SG Morning Highlights | SG Firms Lead Investment in AI and Machine Learning Technologies

Moomoo News SG wrote a column · Oct 16, 2023 09:08

SG Morning Highlights | SG Firms Lead Investment in AI and Machine Learning Technologies

Good morning mooers! Here are things you need to know about today's Singapore:

●Singapore shares opened lower on Monday; STI down 0.23%

●Singapore and Thailand to pursue promising areas of economic cooperation

●SG ranks 17th in world's top sustainable destinations list

●SG firms lead investment in AI and machine learning technologies

●Stocks to watch: DBS, Tuan Sing

●Latest share buy back transactions

-moomoo News SG

Market Trend

Singapore shares opened lower on Monday. The $FTSE Singapore Straits Time Index (.STI.SG)$ lost 0.23 per cent to 3,178.44 as at 9.06 am.

Advancers / Decliners is 63 to 71, with 57.27 million securities worth S$56.43 million changing hands.

Breaking News

Singapore and Thailand to pursue promising areas of economic cooperation

There are plenty more promising areas of economic cooperation to pursue between Singapore and Thailand according to Singapore Prime Minister Lee Hsien Loong. In his toast during the official lunch in honour of the visit of Prime Minister Srettha Thavisin in Singapore, lauded the two countries close ties calling it substantial.

SG ranks 17th in world's top sustainable destinations list

Singapore rose 18 places to 17th rank in the 2023 Global Destination Sustainability Index, demonstrating its commitment to achieving real change. In Asia-Pacific, Singapore ranked second, behind Goyang, South Korea. The Global Destination Sustainability (GDS) Index ranks cities based on four areas: destination management, supplier, social, and environmental performance.

SG firms lead investment in AI and machine learning technologies

Singapore is ahead of the United States and the rest of the world in terms of artificial intelligence (AI) and machine learning (ML) investments. Data from Workday showed that Singapore businesses on average invest 24% of their annual budget in AI and ML, ahead of the United States (22%) and Canada (21%), and higher than the global average of 18%.

Stocks to Watch

$DBS (D05.SG)$ : Customers of Singapore's DBS Group Holdings Ltd. and Citigroup Inc. were unable to access banking facilities for several hours after an issue at a data centre used by the lenders. Payment services were disrupted for several hours on Saturday, and the Monetary Authority of Singapore said it was informed of the matter by the banks in the afternoon. Singapore Telecommunications Ltd. said its engineers verified its networks were working as normal after customers had problems accessing social media platforms and banking services.

$Tuan Sing (T24.SG)$ : Property developer Tuan Sing Holdings plans to turn its headquarters at The Oxley into a hotel or serviced residence, in a bold move into the hospitality sector in Singapore. It is also considering turning its key asset Link@896 and the freehold site next to it into a hotel or serviced residence.

Latest Share Buy Back Transactions