Singapore Midday Briefing: Singapore Airlines the biggest loser amidst dismal volume

Bad results disappoint analysts.

Trading volumes in Singapore remained dismal today as Hong Kong remains closed for holiday and the institutional investors remain away.

Nevertheless Singapore Airlines stood as the most heavily traded stock at noon and was the third biggest percentage loser down 3.8 % $0.44 to $11.10.

DBS Vickers transport analyst Paul Yong told the Singapore Business Review that there was profit taking on the bad set of results that came out last night. “The results were below expectations and passenger yields were disappointing. The weak yields took everyone by surprise. The share price had a good run because of lower fuel prices but we don’t expect the stock will do much from here and we have a hold call,” said Yong.

The other big mover was Halcyon, the rubber producer of tyres, which was the fifth most traded stock by value and also up 8 cents to $0.675