The SGX suddenly soared yesterday mirroring the best month ever for Hong Kong Stock Exchange. I can only attribute this to the formal withdrawal of the extradition bill announced by Carrie Lam, the Chief Executive of Hong Kong. But the key question is whether this move is sufficient to quell the current unrest and whether it really mean the end of the Hong Kong protests? With this major concession, it seems to have given even more strength to the young extremist group that their grand objective of having universal suffrage (one of the key 5 demands) is coming close and that their violent actions have successfully brought about change. I have sold off around half (10,000 units) of my Frasers Centrepoint Trust ("FCT") holdings, as the price raged to an all time high of S$2.87 per unit yesterday, at an average price of S$2.85. I was very reluctant to...
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