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Daily Debrief: What Happened Today
Nirgunan Tiruchelvam, an equities analyst at Religare Capital Markets in Singapore, says he's been reducing his exposure to the local dollar by boosting investments in the US currency since the middle of last year. The timing couldn't have been much better.
The brittle economic sentiment seemed to weigh down on the unionised sector with more workers laid off last year as compared with 2014.
Prices of private homes fell 0.5 per cent in the fourth quarter of 2015 over the preceding quarter, according to Urban Redevelopment Authority data released on Friday. This follows a 1.3 per cent quarter-on-quarter fall in Q3 2015.
- HDB resale prices rise 0.1% in Q4, down 1.6% for full-year 2015
- URA office rental index falls 6.5% in 2015
- Vacancy rate for private homes rises to 8.1% at end-Q4 2015
- Retail property prices and rentals fall further in Q4: URA
Keppel Corp's uncertainties about the oil-rig market are set to continue after a key customer in Brazil that has fallen more than a year behind on its bills postponed a meeting on restructuring.
Some 47 per cent of employers in Singapore plan salary increases of 3 to 6 per cent in the next review period and 28 per cent plan increases of only up to 3 per cent.
Noble Group, Asia's biggest commodities trader, expects to ride out the market downturn and recover from recent accounting-related allegations by turning into a nimble and asset-light company, its founder and chairman Richard Elman told Reuters in an interview on Friday.
The STI Today
A disastrous start, an even worse mid-week session, and an encouraging finish - this sums up the week just passed, during which equity markets everywhere continued to display massive volatility, reportedly because of oil price weakness and large swings in China where prices are more likely to rise than fall.