Daily Debrief: What Happened Today

Stories you might have missed

Singapore factory output falls 4.2% in March in sixth month of contraction; economists expect slump to continue

SINGAPORE’S manufacturing output contracted less than expected in March, but economists expect the industry’s slump to continue for at least the first half of 2023.

Uncertainty, financial stability tail risks have risen globally and for Singapore: MAS

UNCERTAINTY and financial stability tail risks have increased both globally and in Singapore with the rise in global interest rates, the Monetary Authority of Singapore (MAS) said in its half-yearly macroeconomic review on Wednesday (Apr 26).

Yield on latest Singapore 6-month T-bill rises to 3.83%; demand slips for latest SSB issuance

THE cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) has risen to 3.83 per cent, according to auction results released on Wednesday (Apr 26).

Tripartism to lead Singapore in facing post-pandemic challenges: Tan See Leng

AFTER working together to support jobs and improve livelihoods during the pandemic, Singapore’s tripartite partners will now tackle the challenges of the post-pandemic world, Minister for Manpower Tan See Leng said on Wednesday (Apr 26) in his May Day Message.

Electronics ‘insourcing’, fragmented value chain pose challenges, chances for Singapore: MAS

FACING a slowdown in global electronics trade and an increasingly fragmented electronics value chain, Singapore can still strengthen its hub position by leveraging its geographical advantage and efficient trade-logistics ecosystem, said the Monetary Authority of Singapore in its half-yearly macroeconomic review on Wednesday (Apr 26).

HDB rents, volumes rise in March as condo market dips: SRX, 99.co

HOUSING and Development Board (HDB) rents and volumes rose in March, while the condominium rental market fell, as potential condominium tenants shifted to smaller-room HDB flats amid rising costs.

Corporate Earnings

• Frasers Centrepoint Trust manager bullish on leasing demand even as H1 DPU slips 0.1% to S$0.0613
• CapitaLand Ascott Trust posts 59% higher Q1 gross profit
• Suntec Reit’s Q1 DPU falls 27.4% on higher financing costs
• ESR-Logos Reit Q1 net property income up 78.2% to S$70.4 million
• Digital Core Reit Q1 2023 distributable income dips 10 per cent to US$10.9 million

The STI today

Singapore stocks struggle for direction amid uncertain outlook; STI down 0.1%

THE Straits Times Index (STI) fell 0.1 per cent or 2.65 points to 3,293.91 points on Wednesday (Apr 26), as markets were swayed by a weaker overnight US session and positive surprises from tech giants Microsoft and Alphabet.