SG Morning Highlights | Nio Falls Behind on Sales with Revenue Outlook Missing Estimates

Advancers / Decliners is 71 to 52, with 34.85 million securities worth S$52.45 million changing hands.

The Monetary Authority of Singapore (MAS) is partnering two bodies – the Asian Development Bank (ADB) and the Global Energy Alliance for People and Planet (GEAPP) – to set up a blended-finance fund, which will aim to raise up to US$2 billion in concessional and commercial capital to finance energy transition in Asia. This is the second fund to come under the Financing Asia’s Transition Partnership (Fast-P), a blended-finance initiative recently launched by Singapore’s central bank which targets to raise at least US$5 billion. Blended-finance programmes feature a mix of grants, concessional loans and commercial capital designed to lower the cost of capital.

A total of 6,057 flats were launched for sale on Tuesday (Dec 5) by the Housing and Development Board (HDB) under its December 2023 Build-To-Order (BTO) exercise, across eight new projects in both mature and non-mature estates. Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, cautioned that demand for BTO flats is expected to dip slightly from the previous month’s levels, with the overall application rate in December potentially at below two applicants per unit on average.

Singapore retail sales dipped 0.1 per cent year on year in October, snapping an eight-month streak of expansion and reversing from the previous month’s upwardly revised 0.8 per cent growth. This comes amid a deeper contraction in the sales of recreational goods and furniture, data from the Singapore Department of Statistics (SingStat) showed on Tuesday (Dec 5). October’s result was also a disappointment for private-sector economists, who had expected a 0.2 per cent year-on-year growth, according to a Bloomberg poll. Excluding motor vehicles, retail sales fell 1 per cent year on year, compared with September’s 0.7 per cent growth.