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Daily Debrief: What Happened Today
Non-oil domestic exports (NODX) growth rose 8.5 per cent year on year in July, extending the 8.8 per cent growth in June, according to trade promotion agency International Enterprise Singapore.
Following an economic expansion of 2.7 per cent year on year in the first half of 2017, Moody's projects real GDP (gross domestic product) growth for the full year at 2.5 per cent, the midpoint of the government's forecast of 2-3 per cent. It believes that external demand will continue to support expansion.
The MSCI Singapore, a popular stock evaluation measure, is up 14.5 per cent year-to-date, but Morgan Stanley warned that the local bourse could have priced in most of the good news expectations around the better earnings outlook.
UE is in the middle of a takeover bid by a consortium led by Perennial Real Estate Holdings and Yanlord Land Group
The sale is in conjunction with Golar LNG's master limited partnership structure for the partnership to acquire an equity interest in the floating liquefied natural gas (FLNG) Hilli Episeyo.
A committee has been formed to carry out the review, they said in a joint statement on Thursday.
The STI Today
A generally lacklustre and mixed session on Thursday ended with the Straits Times Index 10.07 points lower at 3,268.88 and the broad market excluding warrants at an almost even 222 rises versus 234 falls.