Hot stock: Genting Singapore shares down 6.9% in morning trade
SHARES of Genting Singapore traded down 6.9 per cent or seven Singapore cents to S$0.945 as at 10.55am on Friday, topping the list of actively traded counters for the morning.
On Thursday, the company reported first-quarter net profit that was 73 per cent lower at S$62.7 million, on the back of lower revenue.
Including S$29 million apportioned to holders of perpetual securities, net profit was 64 per cent lower at S$91.7 million.
"The Asian gaming industry is adjusting to a new norm. The premium gaming market continued to be weak," Genting Singapore had said in a statement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%