SG Morning Highlights | Nio Reduces Q2 Losses Amid Surging Vehicle Sales, Sets Higher Q3 Delivery Goals

Advancers / Decliners is 89 to 75, with 149.55 million securities worth S$108.38 million changing hands.

Singapore is set to increase its renewable energy import target to 6 GW by 2035, up from the previous 4 GW, in a move to enhance its energy sustainability and reduce carbon emissions. Announced at the Indonesia International Sustainability Forum, this decision aligns with the granting of conditional licenses for two new projects that will supply 1.4 GW from Indonesia. These developments, part of a broader collaboration between the two nations, reflect a significant step in Singapore's commitment to decarbonizing its power sector and strengthening regional energy cooperation. The initiative, backed by an estimated US$20 billion investment, involves innovative projects utilizing solar power and new sub-sea cables for efficient energy transmission.

The Singaporean government's recent decision to reduce the Loan-to-Value (LTV) limit for HDB housing loans from 80% to 75% could potentially slow down the sales of high-end HDB resale flats. Announced by the Ministry of National Development on August 20, this measure requires buyers to contribute more upfront cash, likely causing a cautious reevaluation of purchase decisions, particularly among prospective buyers of pricier flats. While real estate agency OrangeTee suggests that the impact on million-dollar transactions might be limited, as these buyers often do not rely on HDB loans, PropNex anticipates a temporary decline in such high-value sales. The full impact of these changes is expected to unfold in the coming months, though some experts like Huttons predict strong ongoing demand for larger flats in central regions, despite the cooling measures.