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Singapore Wrap Wednesday
Today's notable stories
- Singapore Budget Debate: COEs, rail disruptions and cleaner vehicles
Transportation issues dominated Parliament on Wednesday, with the Certificate of Entitlement (COE) supply and recent rail disruptions coming up for discussion.
No plans to hold back COEs: Josephine Teo
- GSK to set up new global HQ for Asia in Singapore
British drugmaker GlaxoSmithKline (GSK) on Wednesday said it will set up in Singapore a new global headquarters for Asia, as it ramps up its commitment in the region.
- Local bond market going strong; over S$1b raised from 8 deals in March
The Singapore bond market is perking up, with activity this month more than three times that in the same period last year.
- Interest rate-related volatility may lead to capital flight from S-Reits: Credit Suisse
A return to risk-on mode or interest rate-related volatility may result in capital flight from the Singapore real estate investment trust (S-Reit) sector. If this happens, it would be a better opportunity to buy Reits, compared to the current situation where valuations are expensive, a Tuesday Credit Suisse report said.
- Rents of private non-landed homes, HDB flats fall in February: SRX
Softness persisted in the leasing market for private non-landed homes and public HDB (Housing & Development Board) flats in February with both segments marking a decline in rents.
- Singapore: Wall St's Tues blowout weighs on local stocks
A sudden upward burst in the US dollar was blamed for Wall St's blowout, though underlying the move was probably the spectre of interest rates being raised sooner rather than later. Whatever the case, the outcome was yet more selling here that pulled the Straits Times Index 19.67 points down to 3,378.59 - its third consecutive fall this week.