SG Morning Highlights | Singapore Private Home Prices Down 0.4 % QoQ in Q2: URA Flash Estimate

Advancers / Decliners is 116 to 76, with 145.95 million securities worth S$141.72 million changing hands.

Derivative contracts with a notional value of about US$7.5 billion traded in Singapore will shift to India as a cross-border trading link between the two Asian countries' top bourses gets fully operational on Monday (Jul 3).

SGX Nifty, the Singapore Exchange-traded futures on India's key equity NSE Nifty 50 Index, will be known as Gift Nifty from Jul 3, and all outstanding orders will be transferred to the Gift City, the new financial hub in the western Indian state of Gujarat.

Under the Singapore Exchange's (SGX) Listing Rules, an independent financial adviser (IFA) must be appointed for exit offers, interested person transactions (IPTs) and, in some cases, under a Notice of Compliance (NOC), to direct the issuer to undertake certain actions or review transactions as required by the SGX.

The purpose of requiring an IFA is to ensure that the directors receive an independent and professional opinion on a proposed transaction, including the impact on the issuer.

In a bourse filing on Friday (Jun 30), APS said that both parties mutually agreed not to extend the long stop date for the sale and purchase agreement, citing "adverse current market conditions". The deal then lapsed on Jun 30.