Daily Debrief: What Happened Today

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Tech sector faces bleak outlook amid weak demand: DBS

THE tide has turned for the global technology sector, from being one of the best-performing sectors in 2021 to the worst currently, said analysts at DBS Group Research in a research note on Wednesday (Jun 29).

Hotel revenues continue to rise in May to S$231.7m

HOTEL room revenue rose for the fourth straight month in May, as international visitor numbers continued to rebound strongly on borders reopening.

Singapore CBD Grade A office rents may cross pre-pandemic peak by Q3: JLL

GRADE A office rents in Singapore’s Central Business District (CBD) continued their steady upward momentum for the fifth straight quarter in Q2 2022 to recover to 0.6 per cent below the pre-pandemic peak of S$10.81 per square foot (psf) per month in Q4 2019, according to JLL Singapore.

DBS raises 2-year fixed home loan rate to 2.75% per annum, highest among local banks

DBS has just raised its rates on all home loan packages to 2.75 per cent per annum, placing it the highest among the trio of local banks.

Nio shares plunge on short-seller allegations; company says report ‘without merit’

SHARES of Nio took a nosedive in the US, Hong Kong and Singapore after a report was published by short-seller Grizzly Research claiming the Chinese electric vehicle (EV) maker has been “playing Valeant-esque accounting games” to inflate its revenue and boost net income margins.

The STI today

Singapore shares buckle under regional selling pressure; STI falls 0.17%

THE Singapore bourse, which for a while had a shot at being an outlier in a sea of red that swept across regional bourses, buckled under selling pressure near the close and snapped 3 straight days of gains.