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Daily Debrief: What Happened Today

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Moody's said the higher ABSD rates and tighter loan limits reduce the risk of a property price bubble, future price shocks and losses from mortgage loans, which is credit positive for Singapore’s banks.

Singapore banks to gain from property cooling measures: Moody's
SINGAPORE banks are expected to benefit from property cooling measures which kicked in on July 6, which will reduce speculative demand for residential properties and increase banks' buffers "if and when property prices fall significantly", ratings agency Moody's said on Monday.


Parliament

StanChart Singapore names Patrick Lee as its new CEO
THE 46-year-old will be based in Singapore and will report to Judy Hsu, regional CEO, Asean and South Asia.


The STI today

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Market voices on:

Singapore shares up 1.2% on Monday
SINGAPORE shares closed higher on Monday, with the Straits Times Index (STI) up 1.2 per cent or 37 points to 3,228.82, and above the psychological 3,200 support level.