Hot stock: United Engineers up 3.2% to S$2.61
PROPERTY play United Engineers, said to be pursued by Riady-backed OUE Ltd, rose 3.2 per cent or eight cents to S$2.61 on Wednesday morning. The Singapore Exchange has also queried the firm on its trading activity
By 10.17am, over two million shares worth S$5.5 million have been traded.
The counter had opened 11 cents higher at S$2.64. On Tuesday, reports said OUE was interested in the firm. OCBC bank and its insurance arm Great Eastern Holdings have said they were reviewing their stakes in United Engineers.
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
US dollar soft on renewed Fed rate cut bets; yen on back foot
South Korea’s probe alleges 211.2 billion won of illegal short trades
Asia: Markets build on rally as US jobs data boost rate cut hopes
Zero-day options boom will only grow even as some investors fear disaster
Singapore stocks open in the black on Monday; STI up 0.3%
Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN