UPDATE: SGX posts August commodity derivative volumes jumped 91 percent
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
Former Singapore PM Goh praises civility of opposition politician Chiam
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.
Sponsored: INVEST Fair to bring world-class investment speakers to Singapore
The INVEST Fair conference will bring world-class investment speakers to Singapore for 13th year of the retail investor focused event.
BofA-ML survey: Fund managers grow more jittery in August, turning to protection
Global fund managers are still nervous in August, pulling away from equities and turning to “insurance,” the BofA-ML fund manager survey said Tuesday.
OCBC: Singapore government likely to offer targeted fiscal help amid economic slowdown
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 2Q19 NODX drops 14.6 percent as electronics exports tumble
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 cuts 2019 economic growth forecasts as US trade war escalates
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 turning even more cautious on Singapore’s market
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 acquires Canada’s Halterm Container Terminal
PSA International said Thursday it acquired Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners.
Singapore Airlines reports fiscal 1Q net profit dropped 21 percent
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.
DBS downgraded by Maybank KimEng on macro headwinds
Maybank KimEng downgraded DBS to Hold from Buy, citing increased uncertainty from slower economic growth, potential rate cuts and “souring asset quality.”
DBS: This is how much a Fed rate cut could hit earnings
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: Will 2Q19 be as good as it gets?
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.
Hutchison Port Holdings Trust reports 2Q19 net profit fell 20 percent
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.
BofA-ML survey: Fund managers step back from bearish brink, but jitters persist
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 KE: Rising risk of recession after trade war hits Singapore 2Q GDP
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 economic growth slowed sharply in second quarter, flash estimates show
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.
UPDATE: Singapore stocks to watch Wednesday: Temasek, SGX, SATS, UOL, UIC
These are Singapore companies which may be in focus on Wednesday, 10 July 2019: Temasek, Singapore Exchange, SATS, UOL and UIC.
How Temasek is girding its portfolio against the US-China trade war
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.
UPDATE: Temasek portfolio rises to S$313 billion, beating forecasts
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.