IHH

IHH: +8.7% at $1.21 from its $1.113 IPO price, with more than 17% of shares traded, while peer Raffles Medical is down 4.3% at S$2.47 in strong volume. Analysts note that it's not been such a strong debut. Not as much as some people expected. If IHH had opened around 30% higher, it would have signaled a sector re-rating. Note that Raffles Medical's shares ran up before IHH's debut; the stock is still up around 12% month-to-date. Orderbook quotes suggest IHH shares may find a cap at the S$1.23 intraday high, while Raffles Medical shares aren't likely to retest the S$2.45 intraday low.