SG Morning Highlights | UOL's Meyer Blue Condominium Sees Strong Sales Over Launch Weekend
Good morning mooers! Here are things you need to know about today's Singapore markets:
● Singapore shares opened lower on Monday; STI up 0.85%
● Tourism Recovery Boosts Singapore Retail Rents in Q3 2024
● Singapore Addresses Healthcare Staff Shortage with Cross-Sector Training
● Stocks to watch: UOL, CLN
● Latest share buy back transactions
- Moomoo News SG
Market Snapshot
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.85 percent to 3619.71 as at 9:22 am.
Advancers / Decliners is 190 to 93, with 293.02M million securities worth S$256.61M million changing hands.
Breaking News
Tourism Recovery Boosts Singapore Retail Rents in Q3 2024
In the third quarter of 2024, a resurgence in tourism significantly impacted retail rents in Singapore, particularly in the Orchard shopping belt and other city areas. According to Cushman & Wakefield, Orchard's retail rents witnessed a 0.5% increase over the previous quarter, while other city locales experienced a 0.7% rise. Notably, suburban prime retail rents outpaced those in urban centers, recording a 0.9% quarter-on-quarter growth, reflecting stronger consumer activity in these areas.
Singapore Addresses Healthcare Staff Shortage with Cross-Sector Training
To tackle its healthcare talent shortage, Singapore is training professionals from finance, technology, and consultancy industries, leveraging their skills in communication, empathy, and problem-solving. According to Singapore Medical Group CEO Beng Teck Liang, these skills are crucial in healthcare and can be transferred from sectors like hospitality. Despite challenges like lower pay and stressful conditions deterring newcomers, technology such as telemedicine and AI is helping ease workloads. The government and private sectors are also facilitating this transition by providing targeted training programs and incentives to attract professionals into healthcare roles.
Stocks to Watch
$UOL (U14.SG)$: UOL, a prominent property developer, experienced a successful sales weekend with its freehold condominium, Meyer Blue. The development sold 114 units at an average price of S$3,260 per square foot. Notably, both penthouses in the development were also purchased. Despite the positive sales news, UOL's shares dipped slightly by 0.4 percent to close at S$5.59 on Friday, prior to the announcement.
$APAC Realty (CLN.SG)$: Apac Realty, which operates the ERA real estate agency franchise, has signed a memorandum of understanding with United States-based NexUS Global Realty. The partnership aims to enhance cross-border real estate transactions, potentially boosting business for both companies, according to a Thursday filing. Prior to this announcement, Apac Realty's shares saw an increase, closing up 1.3 percent at S$0.38 on Friday.
$HPL (H15.SG)$: Hotel Properties Limited (HPL) director, Ong Beng Seng, faced two charges on Friday related to dealings with former transport minister S Iswaran. Ong has been charged with abetting the obstruction of justice and abetting offences under Section 165 of the Penal Code. Ahead of the charges, HPL requested a trading halt on Friday morning. Despite this, HPL's stock closed 0.6 percent higher at S$3.68 on Thursday.
$Lum Chang (L19.SG)$: Lum Chang, a mainboard-listed construction company, announced that no charges will be brought against its managing director, David Lum, who was one of two businessmen involved in the case against former minister S Iswaran. Iswaran has been convicted and sentenced to 12 months in jail under Section 165. Despite the news, Lum Chang's shares closed down by 1.6 percent at S$0.30 on Friday.
Share Buy Back Transactions
Source: Business Times, SGinvestors.io, Business Review
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Clement Lemons : okk
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Clement Lemons : okk