SG Morning Highlights | Thai Beverage Full-year Net Profit Falls 9% to 27.4 Billion Baht

Advancers / Decliners is 76 to 75, with 67.30 million securities worth S$74.29 million changing hands.

S-REITs performed in line with forecasts, with strong growth in the hospitality sector and positive rental reversions in retail, office, and industrial properties. The hospitality sub-sector registered strong net property income (NPI) growth, averaging a 26% rise in Q3 compared to the same period in 2022. This comes as the average length of stay increased to 3.55 days, 9% above pre-pandemic levels. In the retail space, the recovery of downtown malls and resiliency of suburban malls helped drive positive rental reversion. Retail rents are rising, supported by retailers' optimism on consumer sentiment, UOB Kay Hian analyst Jonathan Koh noted in a report on S-REITs.

Singapore saw a 9.8% year-on-year (YoY) decline in private residential leasing volume in the third quarter despite a season rebound of 17% compared to the previous quarter, according to Savills. Citing data from the Urban Redevelopment Authority, Savills said there were 23,145 private homes leased during the period compared to the 25,657 in the same period last year as “heightened economic uncertainties, a weaker labour market and deteriorating business sentiment continue to exert pressure on the leasing market.”