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Daily Debrief: What Happened Today
Risks for Singapore's real estate investment trusts (S-Reits) will rise in 2016, said Fitch Ratings in a report on Monday, in view of weak economic fundamentals and new supply that will be added into most sectors.
Singapore inflation eased in October, with headline inflation at -0.8 per cent compared with -0.6 per cent in September. This was mainly due to the lower costs of oil-related and retail items.
Part of the garden land at Eden Hall, the official residence of the British high commissioner in Singapore, has been put up for sale as two individual plots in a tender.
Rajah & Tann Singapore has launched a new practice group, Business Fundamentals, to serve startups and small and medium-sized enterprises (SMEs).
Chinese retailer Beijing Hualian Group (BHG) is looking to list its malls in a Singapore real estate investment trust (Reit) worth S$597 million.
The yuan fell to a three-month low as the central bank weakened the currency's reference rate amid a dollar advance and on concern China will allow a decline to help its economy.
The yuan is massively overvalued and needs to drop, David Tepper, the billionaire owner of Appaloosa Management, said at the Robin Hood Investor's Conference last week.
The STI Today
Other than a spike upwards in the shares of Neptune Orient Lines over hopes of a takeover and Linc Energy because of a possible sale of assets, there was not much else for traders to focus their energies on.
Turnover was a weak one billion units worth S$685 million, the bulk of which was concentrated in the 30 Straits Times Index (STI) components and excluding warrants there were 163 rises versus 238 falls. The STI in the meantime, dropped 14.42 to 2,903.49.