SG Morning Highlights: Singapore inflation busts analyst forecasts in June; more MAS policy tightening expected
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Tuesday; STI up 0.14%
●Singapore inflation busts analyst forecasts in June; more MAS policy tightening expected
●Stocks & REITs to watch: Singtel, CLCT, Aztech, AA Reit, Keppel DC Reit
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Tuesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.14 per cent to 3,185.08 as at 9.13 am.
Advancers / Decliners is 53 to 64, with 91.85 million securities worth S$63.95 million changing hands.
Breaking News
Singapore inflation blew past analysts' expectations and surged in June to levels last seen during the tail end of the global financial crisis (GFC), when energy prices were high.
All the same, analysts do not expect the central bank to ease policy settings – as the Monetary Authority of Singapore (MAS) did then, when gross domestic product (GDP) was in decline.
Barclays economist Brian Tan noted that tight labour market conditions will generate "steady demand-pull inflation pressures", among other factors that could prompt MAS hawkishness.
$Singtel (Z74.SG)$ is divesting its Amobee to the UK's Tremor International for an enterprise valuation of US$239 million, above the US media and advertising subsidiary's carrying value of US$160 million.
The transaction, which excludes Amobee's e-mail solutions business, will realise some US$197 million in net proceeds and is expected to complete by September this year.
In a bourse filing on Tuesday, Singtel said the transaction is in line with the group's strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns.
Stocks & REITs to Watch
$CapLand China T (AU8U.SG)$ : CAPITALAND China Trust on Tuesday (Jul 26) posted a 3.1 per cent year-on-year drop in H1 DPU to S$0.041 after opting to retain S$3.6 million of the amount available for distribution for financial flexibility.
Excluding the amount retained, DPU would have been 2.1 per cent higher on the year at S$0.0432, the manager said in a press statement.
The China-focused real estate investment trust reported a net property income of S$139.5 million for the 6 months ended Jun 30, 15.9 per cent higher than the year-ago period.
$Aztech Gbl (8AZ.SG)$ : Tech solutions provider Aztech Global reported a 79 per cent surge in net profit to S$29 million in the second quarter of financial year 2022, thanks to "strong production volume and shipment" of Internet of Things (IoT) and data communication devices, according to the company's interim financial statement on Monday (Jul 25).
This has brought the net profit to S$42.8 million for the 6 months ended Jun 30, a 45.7 per cent jump compared to the same period last year, despite ongoing challenges posed by the Covid-19 pandemic and supply chain disruptions.
Likewise, revenue in Q2 leapt 77 per cent year on year to S$236.6 million, but saw an 84.8 per cent surge sequentially.
$AIMS APAC Reit (O5RU.SG)$ : Aims Apac Real Estate Investment Trust's (AA Reit) distribution per unit (DPU) rose by 1.3 per cent to S$0.0228 in the first quarter of FY2023, from S$0.0225 in the year-ago period.
Gross revenue was up 29.8 per cent to S$41.3 million in Q1, from S$31.8 million a year ago, while net property income (NPI) grew 34.3 per cent to S$31 million, from S$23.1 million last year.
This was due to contributions from Australian supermarket and grocery chain, Woolworths Headquarters, which was completed on Nov 15, 2021, as well as higher rental income from existing properties, the industrial Reit’s manager said in a regulatory filing on Tuesday (Jul 26).
$Keppel DC Reit (AJBU.SG)$ : DATA centre-focused Keppel Data Centre (DC) real estate investment trust reported 2.5 per cent growth in its H1 2022 distribution per unit (DPU) to S$0.05049 from S$0.04924 a year prior.
Latest Share Buy Back Transactions
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phongy45 : thank you