Jumbo, Tiger and NOL offer highlights in otherwise quiet market
THE debut of Jumbo Group, the general offer by Singapore Airlines (SIA) for Tiger Airways and Neptune Orient Lines' announcement that it is in takeover talks were on Monday the main features of an otherwise bland session in which prices drifted in low volume.
This was perhaps to be expected, given the public holiday on Tuesday and rising expectations of a US interest rate hike next month after Friday's stronger-than-expected US employment figures. As a result, the Straits Times Index drifted within a narrow band for most of the day before finishing a net 12.75 points weaker at 2,997.72.
At 1.2 billion units worth S$1 billion, turnover was slightly above that of previous days but still weak, nonetheless. Of this, 196.3 million worth S$624 million came from trading in the 30 index members.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale