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Daily Debrief: What Happened Today
World stock markets jumped on Thursday as investors chose to take the first hike US interest rates since 2006 as a mark of confidence in the world's largest economy, also lifting the dollar but piling on the pain for oil prices.
Non-oil domestic exports fell 3.3 per cent year on year in November after a flat growth in October, trade promotion agency International Enterprise Singapore reported on Thursday.
IPC Corp plans to pay out S$1.60 per share as part of a capital reduction excercise after the company completed the 14.9 billion yen (S$172.2 million) sale of seven hotels in Japan.
In all, these sites can yield up to 7,420 private residential units, including 1,460 executive condominium (EC) units, and 272,600 square metres gross floor area (GFA) of commercial space, the Ministry of National Development said on Thursday.
The key three-month Sibor or Singapore interbank offered rate rose a tiny 0.001 to 1.13375 per cent, at the 11.30am Thursday fixing from Wednesday's 1.13275 per cent, following the overnight rate hike in the US.
Standard Chartered is working with DBS on developing distributed ledger technology for trade finance in Singapore.
The STI Today
The US Federal Reserve did what was expected of it when it raised its short-term interest rates by 25 basis points on Wednesday, prompting what some believe is a "relief rally" in stocks. The logic was that markets have agonised over when the first rate hike would occur and that when it finally did arrive, there was a sense of relief that lifted prices. Here, the Straits Times Index gained 20.26 points at 2,861.18 in response to the news in tandem with rises elsewhere in the region.