SG Morning Highlights: Singapore's economy grows 4.8% year on year in Q2 but flat sequentially
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Thursday; STI down 0.57%
●Singapore's economy grows 4.8% year on year in Q2 but flat sequentially
●Stocks & REITs to watch: ST Engineering, ComfortDelGro, mm2 Asia
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Thursday. The $FTSE Singapore Straits Time Index (.STI.SG)$ decreased 0.57 per cent to 3,110.74 as at 9.09 am.
Advancers / Decliners is 43 to 79, with 41.16 million securities worth S$60.21 million changing hands.
Breaking News
The Singapore economy grew by 4.8 per cent year on year in the second quarter of 2022, picking up from 4.0 per cent in the 3 months prior, according to flash data out on Thursday (Jul 14).
But on a seasonally adjusted, quarterly basis, gross domestic product (GDP) was flat on the quarter before, compared with the growth of 0.9 per cent seen in the first quarter, said the Ministry of Trade and Industry (MTI).
The latest advance GDP estimates are based mainly on data from April and May. More comprehensive figures for the second quarter will be available in August.
There were 16,870 new Covid-19 cases recorded in Singapore on Wednesday (July 13), almost triple the 5,979 cases on Tuesday.
The Ministry of Health (MOH) said on its website that this increase was due to the spike normally seen after a long weekend.
The increase in the number of cases today is due to the spike we typically see following a long weekend. The 7-day moving average number of local cases has remained stable over the past week, at about 8,400.”
—— said MOH.
Singapore has set up its first battery energy storage system (BESS) to manage peak consumption at the world's largest container transhipment hub.
The project at the Pasir Panjang Terminal is part of an US$8 million partnership between regulator, the Energy Market Authority (EMA) and PSA Corp, the government agencies said in a joint statement on Wednesday (Jul 13).
Stocks & REITs to Watch
$ST Engineering (S63.SG)$ : Defence and engineering group ST Engineering is venturing into the data centre cooling market with the launch of a cooling technology that supposedly helps operators in tropical climates achieve 20 per cent in energy savings, which translates to about S$104 per kilowatt-hour of heat load every year.
$ComfortDelGro (C52.SG)$ : The company is acquiring Irish coach operator GoBus for 12 million euros (S$17 million), a move that will catapult it to be the third-largest inter-city coach operator in the country.
$MM2 Asia (1B0.SG)$ : Singapore's mm2 Asia is ramping up production across Asia and in the US, with five films scheduled for release in 2023 as audiences return to theatres after the pandemic. Angelin Ong, general manager for North Asia at mm2 Asia, said the raft of upcoming features marked a rising demand for content in the region following the events of the past couple of years.
Latest Share Buy Back Transactions
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Heartstrings : thanks for the share