Daily Debrief: What Happened Today

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Singapore key exports to extend slump on broad-based weakness, slow China reopening: economists

THE weakness in Singapore’s non-oil domestic exports (NODX) is expected to persist as external demand conditions remain lacklustre, weighing on both electronic and non-electronic exports, economists said on Wednesday (May 17), after the release of April’s trade prints. Many noted that NODX to China in particular has continued to underperform.

SIA expects robust demand for near-term, peak periods this year

SINGAPORE Airlines (SIA) is experiencing robust demand, not only for this quarter but also for the peak travel season at this year-end, even as it ramps up capacity amid elevated passenger yields.

Singapore businesses encouraged to adopt intellectual property strategies

SINGAPORE companies can leverage their intellectual property (IP) for better growth, with two recent studies showing a positive link between IP and business performance.

CapitaLand Ascendas Reit’s private placement closes at S$2.727 apiece; upsizes placement to raise S$500 million

CAPITALAND Ascendas Reit (Clar) has closed its private placement at S$2.727 apiece with 183,352,000 new units issued, said the real estate investment trust’s (Reit) manager on Wednesday (May 17).

Charge+ to launch South-east Asia’s longest EV charging highway

ELECTRIC vehicle (EV) charging solutions provider Charge+ is planning to develop a 5,000 km EV charging highway with 45 direct current (DC) fast-charging stations across five countries in South-east Asia. The countries are Singapore, Thailand, Cambodia, Malaysia and Vietnam.

The STI today

STI tumbles 1.3% on weak export data, Wall Street’s overnight losses

SINGAPORE shares had nowhere to go but down on Wednesday (May 17) following Wall Street’s overnight losses and the release of weak export data which raised the risk of a technical recession for Singapore’s economy in the second quarter of 2023.