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Singapore Wrap Monday
The Singapore Exchange (SGX) has named Loh Boon Chye, the former head of Bank of America Merrill Lynch's (BofAML) global markets in the Asia Pacific, as its next chief executive from July 14.
The Singapore dollar fell a sharp one per cent on Monday against the greenback following stronger than expected US monthly jobs number.
Singaporean bank stocks are priced near the cheapest valuations in 16 months as the city's borrowing costs and loan volumes drop, presenting an opportunity to investors betting on a US interest-rate hike this year.
Spackman Entertainment Group's associated company, Spackman Media Group (SMG), has acquired a majority stake in Delmedia - a Korean variety show production company - for 1.6 billion Korean won (S$1.94 million).
The STI Today
A soft session that ended with the Straits Times Index (STI) 13.34 points weaker at 3,320.33, low volume of 1.4 billion units worth S$1.01 billion, not much action in blue chips or penny stocks - some brokers rated Monday's trading in the local stock market about as exciting as watching grass grow.