STI ended the first half of the year at 3321 points, up from last month. Anticipation of hope of US-China trade deal, lower interest rate environment etc fueled market recovery. Though markets seems to have factored in some good news, I continued to be defensive in my portfolio positioning as interest had been seen in only selected big cap stocks like banks, property stocks and high yield counters like REITs and telcos.

For this month, I have attended the following AGMs/EGMs/briefing - General Magnetics and Challenger.

For my top 30 holdings, Isetan and SGX had been major movers in the list. For Isetan, the company announced that they will not renewing lease of Westgate mall outlet. SGX also announced restructuring to pursue growth. CapitaLand Mall Trust returned to the list as REITs performed well this month due to anticipation of lower interest rate going forward. Property stocks like UOL, Bukit Sembawang Estates

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