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Daily Debrief: What Happened Today
Singapore bank stocks are starting to look more attractive at current levels while its Reits are beginning to look overpriced, said UBS Global Wealth Management in its July CIO Investing in Asia Pacific monthly report.
Gas and engineering giant Linde has signed a long-term agreement with ExxonMobil Asia Pacific which will see it investing US$1.4 billion to expand its existing gasification complex at Jurong Island and integrating it with ExxonMobil's project to produce and supply additional hydrogen and synthesis gas.
Corporate and institutional customers in Asia are highly satisfied with the banking products and services provided by Singapore’s DBS Bank, United Overseas Bank (UOB) and OCBC Bank, according to a twice-yearly survey by specialist research and consulting firm East & Partners Asia.
Ahead of its June 28 opening, the new shopping mall at Funan has achieved 95 per cent committed occupancy for its retail space, including Singapore's first standalone physical Taobao store.
Online hiring in Singapore saw 16 per cent year-on-year growth for the month of May, according to a report by online recruitment services firm Monster.com on Tuesday.
High-net-worth (HNW) investors in Asia have increased their allocation in sustainable investments to almost a fifth (19 per cent) of their portfolios, with China leading the way, according to a review by Standard Chartered Private Bank.
The STI Today
Last week's equity market rally has fizzled out as investors took to booking profits, with sentiment dampened by a new round of US sanctions on Iran. That said, the focus will be on this weekend's meeting between the US and China at the G-20 summit. These factors set the scene for the Straits Times Index (STI) ending 7.26 points or 0.2 per cent lower at 3,304.27.