Daily Debrief: What Happened Today

Stories you might have missed

Singapore’s growth to slow ‘below trend’ in 2023, dragged down by external-facing sectors: MAS

SINGAPORE’S economic growth is expected to slow to a pace that is “below trend” next year, weighed down by key external-facing sectors such as manufacturing and financial services, the Monetary Authority of Singapore (MAS) said in its half-yearly macroeconomic review on Thursday (Oct 27).

Singapore banks to deliver solid Q3 earnings as rate hikes finally take hold: analysts

SINGAPORE’S banking trio are expected to reap substantial gains in the third quarter of 2022, as interest rate hikes finally make themselves felt considerably in the local financing environment.

Singapore’s inflation to slow but stay high in 2023 as firms pass on costs: MAS

SINGAPORE’S core inflation is expected to be driven more by domestic inflation than external pressures in 2023, with inflation slowing but staying high over the course of the year, according to the Monetary Authority of Singapore’s (MAS) latest macroeconomic review on Thursday (Oct 27).

Two-thirds of local firms financially resilient, but not productive or innovative: MAS

AROUND two-thirds of Singapore firms were financially resilient but neither productive nor innovative in 2019, according to a study of the pre-Covid corporate landscape in the latest Monetary Authority of Singapore (MAS) Macroeconomic Review released on Thursday (Oct 27).

Yield on 6-month Treasury bill at decades-high of 4.19% in latest auction

SINGAPORE’S Treasury bill (T-bill) with a six-month tenor auctioned on Thursday (Oct 27) reported a cut-off yield of 4.19 per cent per annum – a record high in decades and 42 basis points higher than the 3.77 per cent on the issuance a fortnight ago.

Prices, rents of Singapore industrial space continue to rise in Q3: JTC

PRICES and rents of Singapore’s industrial spaces continued to rise for the eighth straight quarter in Q3 2022, despite overall occupancy rates slipping, according to JTC’s quarterly market report released on Thursday (Oct 27).

Corporate Earnings

• Far East Hospitality Trust’s distributable income rises 12% in Q3
• Keppel posts 24% rise in revenue to S$6.8 billion

The STI today

STI continues upward trend as investors keep eye on corporate earnings

LOCAL shares advanced further on Thursday (Oct 27) as investors shrugged off fears of inflation and interest rates, but opted to capitalise on market opportunities amid the announcements of Q3 corporate earnings.