Trading volume of commodity derivatives surged 91% on-year in August to 2.74 million contracts as markets remained jittery, Singapore Exchange said Tuesday.
Economy and Trade
ESM and former PM Goh used the auspices of the Chiam See Tong Sports Fund’s fundraiser to praise the organization’s namesake and opposition politician.
The INVEST Fair conference will bring world-class investment speakers to Singapore for 13th year of the retail investor focused event.
Global fund managers are still nervous in August, pulling away from equities and turning to “insurance,” the BofA-ML fund manager survey said Tuesday.
Singapore is likely to meet slowing economic growth with targeted fiscal help, Selina Ling, head of treasury research and strategy at OCBC, said Tuesday.
Singapore’s NODX dropped 14.6% on-year in 2Q19, hurt by lower shipments of both electronics and non-electronic products, Enterprise Singapore said Tuesday.
Singapore’s GDP growth forecast has been cut to 0.0 percent to 1.0 percent for 2019, amid the escalation of the U.S.-China trade war, the MTI said Tuesday.
Credit Suisse said it’s turning more cautious on the Singapore market, forecasting the city-state’s economic growth would slow to just 0.5 percent in 2019.
PSA International said Thursday it acquired Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners.
Singapore Airlines reported Wednesday its fiscal 1Q net profit dropped 20.7% on-year to S$111 million on higher estimated losses from Virgin Australia.
Maybank KimEng downgraded DBS to Hold from Buy, citing increased uncertainty from slower economic growth, potential rate cuts and “souring asset quality.”
The U.S. Federal Reserve may be set to cut rates ahead, but DBS CEO Gupta was sanguine on the earnings impact for the bank.
DBS is expected to report its 2Q19 earnings grew on-year, but analysts expect the quarter may mark the peak for the bank’s net interest margin.
HPHT reported Wednesday its second quarter net profit fell 19.7 percent on-year to HK$136.5 million amid a hit from the ongoing U.S.-China trade war.
Global fund managers were a tad less pessimistic, but they continued to fret over economic risks, the BofA-ML fund manager survey for July found.
Maybank Kim Eng cut its outlook for Singapore economic growth Friday after second-quarter data came in worse than expected, with a rising recession risk.
Singapore’s economy barely grew in the second quarter, with GDP edging up 0.1 percent on-year, according to MTI’s preliminary estimates Friday.
These are Singapore companies which may be in focus on Wednesday, 10 July 2019: Temasek, Singapore Exchange, SATS, UOL and UIC.
Temasek’s portfolio has been buffeted by the U.S. trade war, and Singapore’s state-owned investment company said it’s carefully weighing its next steps.
Singapore state-owned investment company Temasek reported Tuesday its net portfolio value rose S$313B as of end-March, compared with fiscal 2018’s S$308B.