SG Morning Highlights | SGX Posts 10.5% H2 Profit Increase, Proposing Enhanced Dividend

Advancers / Decliners is 63 to 87, with 59.63 million securities worth S$91.99 million changing hands.

Singapore has emerged as the leader in logistics rent growth across the Asia Pacific region, with a 10.8% year-on-year increase in the first half of 2024. This significant rise, the highest in a decade, is attributed by Knight Frank to the country's robust manufacturing performance, evident from a Purchasing Managers' Index that has seen expansion for ten consecutive months. The upward trend in logistics rents is expected to persist, with prime logistics rents projected to grow by 3% to 5% for the full year of 2024, as Singapore continues to attract international manufacturers looking to expand their operations overseas.

In the first half of 2024, investors have shown a preference for smaller, early-stage fintech deals over larger, mature investments, as indicated by KPMG's report showing Singapore with 52 early-stage deals and 32 seed rounds, compared to only 25 later-stage investments and five mergers and acquisitions. This global trend reflects a growing interest in innovative technologies like AI applications and new business models within the financial services sector. Cryptocurrency and blockchain led the fintech sectors in Singapore, with a 22% increase from the second half of 2023, while the payments sector followed, with B2B platform Nium securing the largest venture capital raise in the ASPAC region. However, the AI sector saw a decline in investments, likely due to increased regulatory scrutiny. Despite a 34% year-on-year drop in fintech deal volume to US$522.89 million in Singapore, the deal count rose by 19%, reaching 117 deals. KPMG remains positive about the future of fintech investments in Singapore, anticipating a revival from a backlog of deals.