Skip to main content

Singapore Stock Market Booming by Investment

Singapore shares closed 0.14 percent lower on Monday, as stagnant U.S. budget talks threatened to derail the world's largest economy and kept investors cautious, but price drop was limited as further signs of a stabilizing Chinese economy boosted investors' sentiment.

China's official manufacturing purchasing managers' index rose to a 7-month high of 50.6 in November, following up on a preliminary private sector survey which revealed factory activity reviving to a 13-month high.

A number of central banks, including the Reserve Bank of Australia, the European Central Bank and the Bank of England, will hold their policy meetings this week. The monthly U.S. nonfarm payrolls data is due out on this Friday.

SIAS Research said "we could see the index testing 3,080 points resistance level, with immediate support at 3,060 points and 3,040 points levels."

DBS Group Research said "trading activity should taper down over the next three weeks before picking up again just before Christmas. The Straits Times Index is likely to range within 3,030 points and 3,090 points over the next three weeks with firmer support noted at 2,980 points."

Singapore's benchmark Straits Times Index dropped 4.21 points to 3,065.74 points. Trading volume was 1.86 billion shares worth 1. 09 billion Singapore dollars. Decliners outnumbered advancers 220 to 158, while 582 stocks did not move.

Among top actives, Genting Singapore shed 3.1 percent to 1.24 Singapore dollars. Deutsche Bank Research has a "hold" rating and 1.27 Singapore dollars target price on Genting Singapore. The German research house lowered its growth estimate for Singapore's gaming market in 2013 to 3 percent, from 6 percent previously.

Olam International requested on Monday a trading halt in its shares for one day pending the release of an announcement. The Singapore commodity trader bought 100 percent of Dehydro Foods Limited, which processes dehydrated onions and herbs in Egypt, for 30.8 million Singapore dollars.

Singapore Airlines closed flat at 10.71 Singapore dollars. It said it was in discussions with interested parties for the possible divestment of its 49 percent stake in British carrier Virgin Atlantic. It did not name the interested parties, but Delta Air Lines had reportedly held recent talks to buy Singapore Airlines' 49 percent stake in Virgin Atlantic.

Comments

Post a Comment

Popular posts from this blog

Buried Treasures in Bohol Philippines

Written by Joe Espiritu       Four persons died in a treasure hunting accident last week. They died for nothing. Many had lost their shirts in the venture, the propensity for Filipinos to get rich quick attribute to the treasure hunting mania. The sad part is that only the ignorant venture on the search, those in the know, being sure that nothing will come out of the effort would not think of investing money, time and effort – this time lives – in a fruitless enterprise.        There had been stories of people getting rich uncovering treasure troves in unlikely places. Most stories are false. Ancient graves of archeological and anthropological value had been desecrated by treasure hunters. They had found nothing. Those people may have struck it rich but not from some hidden riches. Contrary to what other people say, there are no buried treasures in Bohol . If there had been, they were unearthed years ago.         If one traces the history of this province from the first time the huma
Post a Comment
Read more

Davao Culinary Night

DAVAO CITY, Feb. 14, 2020 (PIA) -- The Davao Tourism Association (DATA) recently held the first-ever One Davao Culinary Night which featured indigenous inspired dishes concocted by its member chefs . Founded in 1974, the DATA is a group composed of stakeholders coming from tourism-related establishments in Davao Region. The One Davao Culinary Night at the Marco Polo Davao Ballroom on January 31 was held to coincide with the group’s belated 75th anniversary celebration. “What we really wanted to do is to define what is Davao cuisine. When we formed the DATA chef’s club composed of 10 chefs coming from our DATA restaurant members we were able to collaborate and learn from the immersion that we did with the two indigenous tribes we invited- the Kagan and the Tagabawa,” Gatchi Gatchalian, DATA president said. Gatchalian said they wanted the people to discover what Davao cuisine is, as people associate Davao cuisine to ihaw-ihaw (grilled specialties) and kinilaw (cerviche). Gatchalian
Post a Comment
Read more

Sourcing of Agricultural Products

DAVAO CITY, Feb. 19, 2020 -- The Department of Agrarian Reform (DAR) signed partnership agreements on Monday, February 17, 2020, with various government agencies and a private institution for the sourcing of agricultural products from agrarian reform beneficiaries (ARB) in this province. These institutions are the Bureau of Jail Management and Penology Region XI, Department of Health Region XI, Davao Regional Medical Center, Southern Philippines Medical Center, and Medical Mission Group Hospital which all agreed to assist in the government’s fight against hunger and poverty in the countryside under the Enhanced Partnership Against Hunger and Poverty program (EPAHP). Cabinet Secretary and EPAHP Committee Chairman Karlo B. Nograles said these partnerships work in two ways. It provides institutions with a steady supply of food items, such as rice, vegetables, root crops and other farm produce, while the farmers gain regular markets for their farm yields. “EPAHP is our government’s
Post a Comment
Read more