SG Morning Highlights | Singtel and Viettel Solutions Sign MOU to Develop Vietnam-Singapore Cable System

Advancers / Decliners is 22 to 151, with 112.77 million securities worth S$115.53 million changing hands.

Experts predict that Singapore's gross domestic product (GDP) will continue to accelerate in the first half of 2024, with the services sector driving growth. All services-producing industries recorded year-on-year expansions in the first quarter of 2024. The country is expected to benefit from a range of factors, including Taylor Swift and Bruno Mars concerts, seasonal celebrations, and increased consumer spending. However, inflationary pressures could pose a downside risk to GDP growth, with global food and energy prices expected to rise. Despite this, a resilient economic backdrop is expected to persuade the Monetary Authority of Singapore to keep its policy parameters unchanged in 2024.

The majority of Singaporean businesses consider conversational search systems to be an effective tool in boosting productivity in the workplace, according to a survey by search analytics firm Elastic. The survey found that nearly half of businesses believe the AI-powered tool could help employees save an average of two days per week. The research also revealed that 86% of decision-makers in Singapore plan to raise their investments in generative AI this year and beyond, with more than half saying generative AI could help companies make better use of their resources. However, Singaporean firms are reportedly struggling with AI-powered data searches, with concerns raised about the difficulty in utilizing search results effectively, the inability to cover multiple sources of information, and slow response times.