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Daily Debrief: What Happened Today
Singapore Exchange Ltd said it has raised the amount of cash firms must pledge to cover trading positions due to an expected rise in market volatility linked to Britain's vote on whether to exit the European Union.
- Brexit may prompt MAS easing as Singapore dollar near top of policy band
- 'Modest' direct impact of Brexit on Singapore economy in medium to long-term: MTI
- Currency traders face 3 am Singapore start for Brexit results
Singapore's consumer price index fell 1.6 per cent in May, compared to the 0.5 per cent dip in April, mostly due to accommodation costs and the timing of the disbursement of service & conservancy charges rebates, said the Monetary Authority of Singapore on Thursday.
"This is a more upbeat view than last year when weaker visitor arrivals prompted (Fitch) to forecast Hospitality SREIT earnings would fall in 2016," the report said.
While a majority of professionals in Singapore continue to work longer than their contracted hours, the situation has eased compared to 2014's survey results, according to the Working Hours Survey from services recruiter Morgan McKinley.
The STI Today
The local stock market on Thursday underwent one of its most featureless and lacklustre sessions this year, which was not surprising given that investors the world over were waiting for the result of the UK's referendum on whether to stay or exit the European Union known as "Brexit".