SG Morning Highlights | Keppel Corp to Issue €70M in Floating-Rate Notes for Corporate Needs

Advancers / Decliners is 123 to 77, with 317.09 million securities worth S$176.02 million changing hands.

In Q1 2024, Singapore's private residential property prices grew by a modest 1.4%, a slowdown from the 2.8% increase in Q4 2023, with landed properties increasing by 2.6% and non-landed by 1.0%, as reported by the Urban and Redevelopment Authority. Rental decline improved slightly with a 1.6% decrease compared to the previous quarter's 1.8% drop. Developers launched 1,304 new private homes, excluding executive condominiums, an increase from the previous quarter's 1,060 units, resulting in higher sales of 1,164 units compared to 1,092 units sold in Q4 2023.

During the first quarter of 2024, Changi Airport experienced a 0.5% increase in passenger movements compared to the same period in 2019, handling 16.5 million passengers and achieving 94% of its aircraft movements from 1Q19. North America showed significant growth, surpassing 2019 levels by over 25%. China became the top market for the quarter, boosted by a new visa-exemption policy, with Indonesia, Malaysia, Australia, and Thailand rounding out the top five. Cities like Denpasar, Manila, Taipei, Seoul, and Shanghai also saw more than 10% growth from 1Q19 levels. Additionally, air freight throughput rose by 14% year-on-year to 475,000 tonnes, marking a positive shift after seven quarters of decline, with strong transshipment activities, particularly with China, and the top five cargo markets being Australia, China, Hong Kong, India, and the USA.