SG Morning Highlights | CapitaLand Ascott Trust Enters into Purchase Agreements to Acquire Properties in London, Dublin and Jakarta
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Monday; STI down 0.43%
●Three S-Reits buck the trend in September
●Singapore dollar's heydays seen numbered as exports lose steam
●Stocks to watch: CapitaLand Ascott Trust, Cromwell E-Reit
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.43 per cent to 3,160.67 as at 9.13 am.
Advancers / Decliners is 74 to 101, with 170.57 million securities worth S$77.58 million changing hands.
Breaking News
Three S-Reits buck the trend in September
In the third quarter of 2023, the $FTSE Singapore Straits Time Index (.STI.SG)$ generated a 2.1 per cent total return, bringing its nine-month total return to 3.3 per cent. In September, the S-Reits benchmark declined 3.4 per cent in total return. However, three S-Reits that bucked the trend were $FRASERS HOSPITALITY TRUST (ACV.SG)$ (6.3 per cent total return in the month), $AIMS APAC Reit (O5RU.SG)$ (3.2 per cent) and $Sabana Reit (M1GU.SG)$ (2.6 per cent).
Singapore dollar's heydays seen numbered as exports lose steam
The Singapore dollar has held up fairly well against the stronger greenback this year but its resilience may soon be tested. Even after a 2 per cent decline since the end of December, the currency has stayed near the top of the pack in Asia. However, it's vulnerable to a drop in the rankings as Singapore’s economy loses traction and investors turn to the safety of the US dollar amid rising Treasury yields. Analysts at Standard Chartered Bank, Oversea-Chinese Banking and Skandinaviska Enskilda Banken expect the Singapore dollar to underperform its Asian counterparts in the coming months.
Stocks to Watch
$CapLand Ascott Trust (HMN.SG)$: CapitaLand Ascott Trust (CLAS) has called for an extraordinary general meeting (EGM) to seek the approval of its shareholders for the proposed acquisitions of The Cavendish London, Temple Bar Hotel in Dublin, and Ascott Kuningan Jakarta. The EGM is scheduled to take place at 3pm on Oct 24. CLAS, on Oct 9, entered into purchase agreements to acquire The Cavendish London, Temple Bar Hotel, and Ascott Kuningan Jakarta. CLAS has agreed to acquire 100.0% of the shares of the companies that own these properties.
$Cromwell Reit EUR (CWBU.SG)$: Cromwell European Real Estate Investment Trust's off-market divestment of Viale Europa 95 in Bari, Italy, was completed at 94 million euros (S$135.4 million). The Reit manager on Monday (Oct 9) estimated the sale consideration to represent a 13.1 per cent premium to Viale Europa’s 2017 purchase price of 83.1 million euros. The sale prices stands at 28.2 per cent above the asset’s valuation of 73.3 million euros as at end-2022. No agent was engaged for the sale given the transaction’s off-market nature, said the manager.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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