Comments:

The past week has been all about the Greeks acting democratic and the flood crisis in Thailand continuing. Only two industry sectors are still positive for the year and now we finally understand why ADVANC has remained so strong as INTUCH (formerly SHIN , owned by Temasek and holds 42.5% of ADVANC) will look to sell 2% of its shares to SINGTEL’s investment arm (which in turn owns 19.1% of ADVANC).

What we still find perplexing is given the strong rebound in oil prices in the past month from $80/bbl to now $94/bbl is how on earth the resources industry sector can still be such a lagger for the year.