SG Morning Highlights | Mapletree Logistics Trust Set to Divest 119 Neythal Road Property for S$13.8 Million

Advancers / Decliners is 60 to 63, with 107.20 million securities worth S$63.59 million changing hands.

Economists and analysts have maintained their prediction of a 2.4% full-year GDP growth for Singapore in Q2 2024, despite a stronger-than-expected expansion in Q1 2024. The MAS Survey of Professional Forecasters noted that whilst the 2.4% full-year GDP growth prediction remained unchanged, the composition of growth drivers has changed, with experts downgrading their growth forecast for manufacturing and construction. Forecasters also cut their growth forecast for non-oil domestic exports. The mean probability distribution of 2024 GDP growth forecasts suggests that Singapore's economy will likely grow by 2.0% to 2.4% this year, with GDP expected to expand by 2.5% in 2025. The survey also showed a lowered expected CPI-All Items inflation growth for 2024 to 2.8%, with headline and MAS core inflation expected to ease to 2.1% and 2.0%, respectively, in 2025.

Singapore's major banks, DBS, OCBC, and UOB, have set emissions reduction and net-zero targets for their Scope 3 financed and facilitated emissions, covering over S$200 billion in loan portfolios across ten carbon-intensive sectors. The banks aim for 40% intermediate reductions by 2030 and long-term reductions of 96% by 2040 or 2050, with net-zero targets for three sectors and nearly net-zero for most others, supported by science-based decarbonisation pathways specific to each sector. These targets are crucial for managing climate-related risks and opportunities, and setting them provides valuable data for climate risk management and stress testing. Additionally, facilitating clients' transitions helps banks identify new climate-related opportunities.