SG Morning Highlights | SGX-ST Grants Seatrium In-Principle Approval for Listing Consolidated Shares on Mainboard

Advancers / Decliners is 62 to 49, with 51.79 million securities worth S$74.19 million changing hands.

Singapore's real estate market is attracting global investors due to the country's meticulous urban planning and transparent policies, offering a stable environment for investment. Singapore has limited land and resources but has excelled in maximizing land use through strategic planning and economic development, spearheaded by government bodies such as the JTC, HDB, and URA. The transparent policies and systematic organization of land use provide a stable environment that investors find appealing, and the Additional Buyer's Stamp Duty (ABSD) contributes to market stability by influencing pricing strategies. Changes in real estate usage due to evolving work patterns and technological advancements are anticipated, such as hybrid work models transforming office space requirements and the rise of online retail affecting industrial and retail spaces. The uncertainty around the final form of office space usage makes investment decisions challenging, and changes in work patterns and lifestyles are impacting the residential sector.

Business sentiment in Singapore has risen to a one-year high for Q2 2024, according to a study by the Singapore Commercial Credit Bureau (SCCB). The Business Optimism Index grew 4.82 percentage points (pp) in Q2 2024 from the 4.48 pp in Q1 2024, representing growth for three consecutive quarters. The index was also higher for the quarter compared to the same quarter last year. Businesses are more optimistic about sales volume and net profit, with the construction and transportation sectors being the most optimistic. However, there is a more subdued outlook regarding selling price, new orders, employment, and inventory level.