NVDA
NVIDIA
-- 108.380 TSLA
Tesla
-- 259.160 PLTR
Palantir
-- 84.400 AMZN
Amazon
-- 190.260 AAPL
Apple
-- 222.130 SG Morning Highlights | Condo Resale Prices Continue to Soften in July, Volumes Rise
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Wednesday; STI up 0.40%
●Condo resale prices continue to soften in July, volumes rise: SRX, 99.co
●Singapore, Vietnam boost bilateral cooperation
●Electronic sector to recover in 2024
●Stocks to watch: Sembcorp, IHH Healthcare, GuocoLand
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Wednesday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.40 per cent to 3,235.95 as at 9.04 am.
Advancers / Decliners is 100 to 37, with 69.92 million securities worth S$50.49 million changing hands.
Breaking News
Condo resale prices continue to soften in July, volumes rise: SRX, 99.co
Singapore condominium resale prices continued to soften in July, although volumes rose slightly as buyers brought forward their home purchases ahead of the Hungry Ghost Festival. Overall resale prices dipped 0.2 per cent from the month before but were up 7.4 per cent on the year, flash estimates from SRX and 99.co released on Tuesday (Aug 29) indicated. The number of resale units that changed hands stood at 836 units, up 4 per cent from 804 units in June. Year on year, resale volumes were 17.7 per cent lower on the year and 17.6 per cent lower than the five-year average volumes for the month of July.
Singapore, Vietnam boost bilateral cooperation
Singapore and Vietnam have entered new partnerships to enhance bilateral cooperation in various fields such as green economy, digital economy and innovation. In a statement, the Ministry of Trade and Industry Singapore (MTI) said the partnerships were signed as part of Prime Minister Lee Hsien Loong and Second Minister for Trade and Industry Tan See Leng’s official visit to Vietnam.“The conclusion of these agreements, witnessed by Singapore and Vietnam’s leaders, signal both countries’ commitment to build stronger partnerships in the emerging areas of green economy, digital economy and innovation,” Tan said.
Electronic sector to recover in 2024
The electrical and electronics sector may have improved due to the AI boom but its recovery will likely move to 2024, broker, CGS-CIMB, said. The statement stemmed from the recent inflation figures, with manufacturing figures improved due to electronics. "We cut our 2023 GDP forecast to 0.9% YoY on weak 1H23 growth, sluggish trade outlook, and our cautious stance on the external and electronic sectors," read the brokerage report. The semiconductor industry, specifically, will see a prolonged demand weakness and may record extended period of decline. It sector recovery will reach only in 2023.
Stocks to Watch
$Sembcorp Ind (U96.SG)$: Sembcorp Industries and longstanding partner Becamax have received approvals to develop four new industrial parks in Vietnam, the Singapore-listed energy company announced on Tuesday (Aug 29). It also unveiled plans for 10 more prospective parks. Sembcorp and Becamax have received an investment licence to develop a new 600-hectare industrial park in Lang Son province, and obtained in-principle approvals from Vietnamese Prime Minister Pham Minh Chinh to establish three more in the Thai Binh, Binh Thuan and Ha Tinh provinces. This will bring the total number of Vietnam-Singapore industrial parks (VSIPs) in Sembcorp’s portfolio to 17, making it the largest collaboration between the two countries.
$IHH (Q0F.SG)$: Malaysian hospital operator IHH Healthcare reported a 51 per cent drop in net profit to RM301.8 million (S$87.9 million) in the second quarter ended Jun 30, 2023, from RM612.1 million in the year-ago period. This was due mainly to “a high base last year when we had exceptional gains”, the group said in a bourse filing on Tuesday (Aug 29). Earnings per share for the period stood at 3.43 sen, compared with 6.69 sen per share in the same period a year earlier. Revenue in Q2 grew 7 per cent to RM4.7 billion, from RM4.4 billion previously. The increase came from higher patient volumes and revenue growth across all markets, IHH said.
$GuocoLand (F17.SG)$: Real estate group GuocoLand posted a 54.5 per cent decline in net profit to S$148 million for the half-year ended Jun 30, down from S$325.2 million in the corresponding year-ago period. This comes despite the group posting a 72.2 per cent increase in revenue to S$882.9 million for the half-year, from S$512.8 million a year ago. In its earnings release, the group said on Tuesday (Aug 29) that the absence of fair-value gains on interest rate hedges in FY2023 resulted in other income falling by 50.9 per cent to S$161 million in the same period year on year (yoy).
Latest Share Buy Back Transactions
Source：Business Times, SG investors
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment