COVID-19 has wreaked havoc on stock markets globally. Locally, the Straits Times Index (STI), comprising the 30 largest and most liquid Singapore-listed companies, has tanked nearly 25.2% since the start of 2020. The STI is currently trading at 2410.74, compared to 3222.83 at the start of the year.
You can see in the chart below, this decline has been quite steep, and only really started in mid-February.
Source: Yahoo Finance
Looking further back, the last time that the STI hit this level was during the recovery of the Global Financial Crisis (GFC), in July 2009.
Source: Yahoo Finance
We look at 4 stocks, that are part of the top 30 companies listed on the STI, that have fallen the most.
Read Also: Complete Guide To Investing In The STI ETF
SAT (SGX: S58)
SATS is Asia’s largest provider of gateway services and food solutions primarily in the aviation sector.
With the COVID-19 epidemic leading to a significant drop in the travel and hospitality sector, amongst many others, it is no surprise that SATS is the biggest loser on the STI. With no end in sight, it is also why its share price was most severely affected. Since the start of the year, SATS’ share price has plunged 42%, to $2.96 from $5.06.
On 9 March 2020, SATS announced that it expects COVID-19 to “substantially and adversely for the quarter and the full year”. It also announced a slew of cost-cutting measures, including reductions in pay for its Board of Directors, senior management team and middle management team.
Despite the gloom, it also stated that it is “in a strong position to weather disruptions” and is “looking out for opportunities in this crisis”.
ThaiBev (SGX: Y92)
Thai Beverage, or ThaiBev, is one of the largest beverage companies in Southeast Asia, and the largest in Thailand. It mainly sells spirits, beer, non-alcoholic beverages, and food.
Since the start of the year, ThaiBev’s share price has nosedived 40%, to $0.535 from $0.89. As a significant part of ThaiBev’s business relies on the consumption of alcohol, which is at stake following strict measures in the region to lockdown cities and entire countries, as well as restrict tourism-related activities.
Notwithstanding the epidemic, ThaiBev reported positive numbers in its latest announcement for October to December 2019, with healthy increases in its revenue, net profit and earnings per share.
ComfortDelGro (SGX: C52)
ComfortDelGro is one of the largest land transport companies in the world, with market leadership position in Singapore, as well as significant overseas presence in Malaysia, China, Australia, the UK and Ireland.
With COVID-19 promoting greater work-from-home initiatives, and limiting any unnecessary outdoor activities, ComfortDelGro’s business will naturally be affected as well. Even while contending with COVID-19, it has also been fighting Grab in its taxi business.
Unsurprisingly, ComfortDelGro’s share price has dropped 39%, to $1.48 from $2.38 at the start of 2002.
Jardine C&C (SGX: C07)
Jardine Cycle & Carriage, or Jardine C&C, owns a majority stake in Astra International, the largest independent automotive group in Southeast Asia. Jardine C&C also has a strong regional automotive presence in Singapore, Malaysia, Indonesia and Myanmar. The Group also has diversified interests in other businesses in the car manufacturing, construction and engineering, and beverage industry.
Since the start of 2020, Jardine C&C has witnessed its share price decline by 38%, to $18.6 from $30.1.
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4 Stocks This Week is not a recommendation from us to buy or sell any of these stocks. For investors who are keen to find out more, you should continue researching about them before making your investment decisions.