SG Morning Highlights: Sea e-commerce arm Shopee to shut down India operations

-Moomoo News SG

Market Trend
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ increased 0.68 per cent to 3,455.23 as at 9.12am.

Advancers / Decliners is 124 to 44, with 183.56million securities worth S$156.19 million changing hands.

Breaking News
Sea e-commerce arm Shopee to shut down India operations
SINGAPORE-based e-commerce and gaming firm Sea Ltd said on Monday (Mar 28) it is withdrawing from India's retail market just months after beginning operations there, citing "global market uncertainties".

The business withdrawal comes weeks after Sea's e-commerce arm, Shopee, said it was pulling out of France and after India banned Sea's popular gaming app Free Fire.

Stocks to Watch
$Singtel (Z74.SG)$ : NCS announced its acquisition of digital services firm ARQ Group (ARQ) in Australia for A$290 million ($297 million). This move brings to scale NCS NEXT in Australia, which now offers a compelling end-to-end digital transformation value proposition for clients.

$Sri Trang Gloves (STG.SG)$ : Thai glove producer , which has a secondary listing on the SGX Mainboard, has commissioned its latest facility in Thailand’s Chumphon province, bringing the total number of facilities to 13.

$ComfortDelGro (C52.SG)$ : ComfortDelGro, on March 28, announced that it will increase its fares on all its taxis temporarily. The proposed one-cent increase will affect distance and waiting time fares. The flagdown fare will remain unchanged, says ComfortDelGro.