Shopping during the Mid-Autumn Festival

Wanted to pen down my thoughts, even as the broader STI makes its rise above the 3200 level. I was relatively active in the last 2 months given that the market took a nose dive due to trade uncertainties, HK protests as well as the shock from inverted yield curve.  

During this period I added the following counters,

Koufu – Averaged down at the resistance line of $0.7. I had initially added at the previous resistance of $0.75. But the bearish sentiments broke the counter further down. I am looking forward to its next quarterly report to see how well its expansion is doing.

CRCT – Subscribed to more than 10x my allocation and was given full allocation. To be honest, if I had known that the upper limit for allocation was higher I would have added more. Not looking to add more at the current valuation. Will wait till next quarter to see the impact of falling RMB on the Reit’s DPU.

OCBC – Added when the price dipped below $10.70. Small position given that I believe that it has the highest potential to run given its small dividend payout ratio and potential acquisitions.

HK land – Added this counter as the final laggard before the STI moved above 3100. I think the risk are overblown considering that it has a diversified portfolio and the fact that the HK protest would not go on indefinitely.

This period was also not without error.

Sembcorp Marine – Added after news broke of its involvement in the ongoing Brazillian corruption probe. Initial gap down was greeted by reversal in the following week, missed a clear sign to exit before the gloom. I guess I got emotional/greedy. While the 10% loss was painful, I still consider myself lucky to cycle out of the stock and rotate to other counters above.

Not looking to add anymore till the next downturn. Just adding to depleted war chest.

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