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-- 47.130 SG Morning Highlights: Stocks decline at open after Wall Street retreat
Good morning moomooers! Here are things you need to know about today's Singapore:
1. Singapore stocks decline at open after Wall Street retreat; STI down 0.8%
2. Singtel to 'exploit tailwinds of digitalisation' with strategic reset
3. Stocks to watch: Sembmarine, Secura
-Moomoo News SG
Market Trend
Singapore shares pulled back on Wednesday morning following overnight losses on Wall Street and weaker openings from index counters.
$FTSE Singapore Straits Time Index (.STI.SG)$slipped 0.8 per cent or 26.29 points to 3,164.30 as at 9.03am. Losers outnumbered gainers 90 to 67, after 91.4 million securities worth S$78.9 million changed hands.
The most active counter by volume was Sembcorp Marine Sembcorp Marine: S51 -1.61% , which dropped 0.8 per cent or 0.1 Singapore cent to 12.3 cents, with 20 million shares changing hands.
Breaking News
The headwinds and challenges brought on by Covid-19 have provided Singtel tailwinds of digitalisation that the telco intends to exploit to propel it forward, wrote chairman Lee Theng Kiat and chief executive officer Yuen Kuan Moon in the company's latest annual report.
Singtel first announced plans for a strategic reset on May 27 this year, the day it reported a 92.7 per cent decline in H2 net profit to S$87.6 million from S$1.2 billion in H2 FY2020.
Singtel first announced plans for a strategic reset on May 27 this year, the day it reported a 92.7 per cent decline in H2 net profit to S$87.6 million from S$1.2 billion in H2 FY2020.
Stocks to watch
$Seatrium (S51.SG)$: The group's head of investor relations and corporate communications Chua Mun Yuen clarified on Wednesdaythat the S$1.5 billion through an earlier proposed fully committed, renounceable rights issue would not be used to fund its potential merger with Keppel Offshore & Marine (Keppel O&M). This comes after The Business Times published an article questioning if the rights issue was made to help position the group for a potentially cash-depleting merger with Keppel O&M. Sembmarine's shares closed at 12.4 Singapore cents, up 0.8 per cent or 0.1 cent on Tuesday.
$Secura (43B.SG)$: The security solutions provider announced on Tuesday that its unit, Soverus, has been awarded a S$6.8 million contract to provide unarmed guards services. The contract is expected to contribute positively but not significantly to this year's financials, and will be effective from August 2021 to August 2026. The company's shares closed at eight Singapore cents, up 3.9 per cent or 0.3 cent before the announcement was made.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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