With the growing likelihood that the Fed could be looking to a rate cut to sustain the rate of US economic expansion, Reits saw a hive of activity in Singapore.
However, traders told The Business Times they felt Reits were overbought on the day and had advised clients to take profit on some counters. Singtel shares continued to trend upwards, gaining four cents or 1.3 per cent to $3.25. The telco has been outperforming the blue-chip index in recent weeks as investors continue to shift to more defensively positioned equity portfolios.
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