The Business Times
business-time-50

SGX listcos’ Q3 profits fall 6.8%; tech, Reits expected to lead recovery in 2024

google-preferred-sourceAdd BT as a preferred source
Navene Elangovan

Navene Elangovan

Published Mon, Dec 11, 2023 · 05:00 AM
    • Analysts expect the tech sector to recover in 2024, benefiting local companies.
    • Analysts expect the tech sector to recover in 2024, benefiting local companies. PHOTO: BLOOMBERG

    THE earnings of companies listed on the Singapore Exchange (SGX) fell for the third quarter of 2023 ended September amid high interest rates, persistent inflation and an economic slowdown in China.

    A compilation of results by The Business Times as at Nov 30 showed that the aggregate profits of the 111 companies that had released their quarterly financial results or updates for the quarter stood at S$8.7 billion, down 6.8 per cent from the corresponding period last year.

    While analysts expected earnings for Q4 to remain weak for most sectors, they were optimistic that some sectors such as technology and real estate investment trusts (Reits) would see some recovery in 2024.

    Financial resultsSingapore StocksSpotlight

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore is ranked as the world’s most expensive city for cars and placed third globally for residential property, according to Julius Baer.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More