SG Morning Highlights: Shares fall, led by transport-related stocks
![SG Morning Highlights: Shares fall, led by transport-related stocks](https://ussnsimg.moomoo.com/20220307000100302f9a8897fc7.png)
Good morning moomooers! Here are things you need to know about today's Singapore:
1. Singapore shares fall 0.4%, led by transport-related stocks
2. SGX suspends trading of PJSC Gazprom GDR on Russia sanctions
3. Stocks to watch: Aspen, Shinvest, Don Agro
-Moomoo News SG
Market Trend
Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ falls 0.4% to 3217.36, led by transport-related stocks. Advancers / Decliners is 98 to 166, with 424.85 million securities worth S$302.72 million changing hands.
Breaking News
THE Singapore Exchange Regulation (SGX RegCo) on Monday (Mar 7) suspended the admission to trading of PJSC Gazprom global depositary receipts (GDR) due to sanctions by the Singapore government amid Russia's invasion of Ukraine.
PJSC Gazprom is a Russian energy company that deals with oil and gas.
On Saturday, the Ministry of Foreign Affairs said it was banning banks and other financial institutions from doing business with 4 Russian banks, as well as banning the export of certain goods as part of the sanctions.
Stocks to watch
$Aspen (1F3.SG)$: The mainboard-listed group in an update after trading hours on Friday (Mar 4) clarified the basis for Tialoc Malaysia’s claim of RM93.2 million (S$30.1 million). It assured shareholders that it would be able to mitigate any immediate going-concern risk with the current capital on its balance sheet, credit facilities and planned additional capital injections from shareholders. Shares of Aspen ended Friday S$0.002 or 2.7 per cent lower at S$0.072, before the latest announcement was made.
$Shinvest (BJW.SG)$: The voluntary cash offer to acquire all shares by its substantial shareholders has turned unconditional in all respects, announced the industrial group late on Friday. The closing date for the offer has also been extended by 2 weeks, to 5.30 pm on Apr 13. Shinvest shares closed unchanged at S$3.42 on Friday, before the announcement.
$Don Agro (GRQ.SG)$: The Russia-based agriculture company on Friday said it was working closely with its external sanctions counsel to procure a legal opinion on the implications of the latest imposition of sanctions and current geopolitical situation. In response to queries from the SGX, Don Agro said it considers its dealings with two sanctioned entities “significant”. The group’s shares closed at S$0.335 on Friday, up 4.7 per cent, before the announcement.
Trading halts: $Pavillon (596.SG)$ and $AlphaDX (VVL.SG)$ on Monday requested trading halts with immediate effect, pending an announcement. Both counters closed Friday flat at S$0.022 and S$0.112, respectively. Alpha DX announced on Mar 4 after trading hours that it received a letter of statutory demand from Kydon Holdings in relation to payment of a sum of S$1.9 million.
Source: The Business Times
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ProfitTogether : Thanks for the news, keep it coming especially for those moving the market up.