Daily Debrief: What Happened Today

Stories you might have missed

Singapore semiconductor sector may be hit by US export controls on China: MTI

WHILE recent US export controls are aimed at restricting China’s access to semiconductor technologies, Singapore’s semiconductor sector could still be impacted due to highly complex and globalised supply chains, said Minister of State for Trade and Industry Alvin Tan in Parliament on Thursday (Oct 20).

Singtel to take 7% hit on FY23 earnings from Optus data breach: UOBKH

SINGTEL’S FY2023 earnings is expected to take a smaller-than-expected hit from the Optus data breach since it has been spared the full cost of passport replacements for affected customers, according to a report by UOB Kay Hian (UOBKH) on Thursday (Oct 20).

Chinese markets are sinking fast as Xi fails to boost confidence

THE selloff in Chinese assets is intensifying as this week’s Communist Party Congress disappoints traders wanting relief from a strict Covid-Zero policy and help for an economy mired in a property crisis.

Pasir Panjang redevelopment site sold at S$1,128 psf

THE tender for 303/305 Pasir Panjang Road has been awarded to luxury home developer Silver Edge Investment Holdings at S$475,000 above its S$18 million guide price, announced the property’s sole marketing agent Knight Frank on Thursday (Oct 20).

Malaysia votes on Nov 19; nominations for candidates on Nov 5

MALAYSIANS will head to the ballot boxes on Nov 19, with nominations for candidates taking place a fortnight earlier on Nov 5.

Corporate Earnings

• Marina Bay Sands’ net revenue more than trebles to US$756m in Q3

The STI today

Singapore stocks end flat on Thursday; most Asian markets decline

SINGAPORE shares were flat at the close on Thursday (Oct 20), while most regional markets ended lower as inflation worries continue to weigh on investors.