Added Favourites & This Week Watchlist

Last week financial headlines were either dominated by the impending local election or the worsening COVID-19 situation in US. The latter is spooking investors so much so that Dow Jones dropped 700 points on Friday alone.

The local STI was trading within a very tight range throughout the week, and clearly losing the steam to surge further upwards given the COVID-19 concerns. It is likely that STI will mirror Dow Jones and fall come Monday 29-Jun-2020.

Reflecting on my trading activities last week, they were mainly to continue to buy/add more of my favourites – Suntec Reit and Mapletree Commercial Trust to my portfolio after they had dropped ~ 10% from recent their highs.

They were small nibbles. I am holding back because I feel that if the COVID-19 situation in US doesn’t improve, their share prices will drop further and provide an opportunity for me to accumulate at even lower price. If the late March COVID-19 impact is a reference, we may see another 20% drop from current level.

But nobody can predict the future.

woman in blue long sleeved dress on rope bridge
Photo by Abby Chung on Pexels.com

These are well run companies and I believe they will survive the current COVID-19 challenges. For my favourite companies, which are all dividend distributing companies and I feel are well run, I tend to accumulate a bit of them from time to time.

Some of you had asked, what are the companies on top of my watchlist this week?

Well, they are: (and they are in no order of preferences)

  1. Olam
  2. OCBC
  3. UOL
  4. Dairy Farm
  5. Capitaland

They had all come off their recent highs lately – actually more than what I expected.

I own the shares of these companies currently but if their share prices fall further this week, I would be tempted to accumulate more shares for long term investment and to build up passive income for the future.

Have a great investment week ahead.

Regards

Warriortan

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