TSLA
Tesla
-- 379.280 NVDA
NVIDIA
-- 138.310 RGTI
Rigetti Computing
-- 20.0000 PLTR
Palantir
-- 75.190 AMD
Advanced Micro Devices
-- 120.630 Morning Wrap | OCBC Bank Sells 33.3% Stake in Hong Kong Life Insurance for S$103 Million
Good morning mooers! Here are things you need to know about today's Singapore markets:
- Singapore shares opened higher on Monday;
- Singapore’s 2025 Election Budget to Address Cost of Living with Generous Handouts
- Stocks to watch: OCBC Bank, SingPost, Sembcorp Ind, etc.
- Latest share buy back transactions
Market Snapshot
SG:
Singapore shares opened higher on Monday:
Today's Volume / Value: 15.97M / S$17.61M
Advancers / Decliners: 40 / 37
US:
Market Retreats After Apple's Peak, Dampening Hopes for Santa Claus Rally
The market decisively fell last Friday, with the indexes pulling back. On last Thursday, $Apple (AAPL.US)$ hit an all-time high of $260, just below the $4 T market cap. Last Friday, the market pulled back, with other big tech names joining Apple in pilling down indices. It is looking bleak for a "Santa Clause Rally" that sees the last seven sessions or so of the trading year end in an overall gain.
The $Dow Jones Industrial Average (.DJI.US)$ fell 0.77%, the $Nasdaq Composite Index (.IXIC.US)$ fell 1.49%, and the $S&P 500 Index (.SPX.US)$ is -1.11%.
Breaking News
Singapore’s 2025 Election Budget to Address Cost of Living with Generous Handouts
Ahead of the 2025 general election, Singapore's Budget 2025 is poised to tackle the cost of living through substantial handouts, driven by robust tax collections from FY2024. Set for unveiling on February 18, this budget will mix immediate relief measures like cash transfers with long-term economic strategies amidst Singapore's 60th independence anniversary. It will also focus on enhancing job security and addressing demographic challenges with further investments in skills training. While supporting economic transformation, major infrastructure projects may be postponed to ensure fiscal discipline, strategically balancing short-term public needs with long-term growth in an election year.
Stocks to Watch
$OCBC Bank (O39.SG)$ has disposed of its 33.3% stake in Hong Kong Life Insurance to a Hong Kong investment firm for HK$589.3 million (S$103 million), resulting in Hong Kong Life no longer being associated with OCBC. Following this announcement, OCBC shares rose slightly by 0.2% to S$16.52.
$SingPost (S08.SG)$ addressed questions from the Securities Investors Association (Singapore) and other stakeholders concerning the recent dismissal of three senior executives, emphasizing that due process was followed. SingPost shares dipped by 1%, closing at S$0.52.
$Sembcorp Ind (U96.SG)$ announced that its subsidiary has successfully launched its first renewables project in Oman, four months ahead of schedule, which is expected to positively impact its earnings. Shares in Sembcorp increased by 0.7% to S$5.45.
$Adventus (5EF.SG)$ and $Dasin Retail Tr (CEDU.SG)$ requested trading halts on Monday morning pending upcoming announcements. Previously, Adventus shares had surged by 50% to S$0.003, while shares of Dasin Retail Trust remained unchanged at S$0.029.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
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Warm regards,
Moomoo SG News Team
Moomoo SG News Team
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