Singapore shares close mixed
THE Straits Times Index (STI) kicked off the week with a 3.41 point rise to 2,928.76 on Monday, probably influenced by rises in Hong Kong and the Dow futures. Turnover was a respectable 1.4 billion units worth S$1.1 billion, though the broad market, excluding warrants, registered 200 rises versus 222 falls - a more mixed performance than the index's reading might have indicated.
The big news of the day was an announcement by the Singapore Exchange (SGX) that it is to set up a subsidiary to house and perform its frontline regulatory functions. Called RegCo, it will have a separate board of directors who will be independent of any listed company. In response to the news, SGX's shares rose S$0.06 to S$7.80 on volume of 1.4 million.
In the second line, shares of precision machine parts maker Innovalues crashed S$0.145 or 14 per cent to S$0.885 on volume of 15.8 million, drawing a query from SGX. The company had not replied by the time that trading ended.
Also queried was beauty products seller Best World International, whose shares collapsed S$0.155 or 10.6 per cent to S$1.31 on volume of 4.6 million. The company made the news last month after its shares quadrupled this year. It had been queried by SGX three times over three months, with a fourth query in June directed at certain items in its latest results.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
Asia: Stocks rise on earnings optimism as US data approaches
Singapore stocks climb at Wednesday’s open; STI up 0.4%