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Stocks to watch: Tech plays, Singapore Exchange, Singtel, QAF, Aspen, Keppel
THE following companies saw new developments that may affect trading of their securities on Wednesday:
Technology plays: Venture Corporation, AEM Holdings and Hi-P International, along with other tech stocks in Singapore, have seen particular selling pressure. Market watchers say this may be related to a general repositioning among investors globally, as they move out of the early pandemic plays. Venture shares fell S$0.12 or 0.6 per cent to close at S$18.98 on Tuesday, AEM ended at S$3.55, up S$0.05 or 1.4 per cent, while Hi-P finished at S$1.05, down S$0.01 or 0.9 per cent.
Singapore Exchange (SGX): The Singapore bourse and India's National Stock Exchange have inked a formal agreement over their planned new trading model for Nifty futures contracts. SGX shares closed flat at S$8.90 on a cum-dividend basis on Tuesday, before the latest update.
Singapore Telecommunications (Singtel): The telco's share price on Tuesday fell to its lowest in 12 years as heavy volumes changed hands. The counter lost S$0.05 or 2.3 per cent to end at S$2.16 on Tuesday, after 40.5 million shares were traded.
QAF: The mainboard-listed food supplier expects its Australia-based pork production business to fare slightly worse in fiscal 2020 than earlier guided. QAF shares added half a Singapore cent or 0.6 per cent to 92 cents on Tuesday, before the announcement.
Aspen (Group) Holdings: The Malaysia-based real estate developer said it will invest an initial RM105 million (S$34.6 million) into a joint venture involving the manufacturing and distribution of rubber gloves. On Tuesday, the Catalist-listed firm also announced the appointment of Calvin Ng as its glove unit's chief operating officer. Aspen shares closed at 18.5 Singapore cents on Tuesday, up 3.3 cents or 21.7 per cent.
Keppel Corp: The conglomerate's asset-management arm, Keppel Capital, has crossed the halfway mark in target commitments for a US$500 million regional real estate investment fund. Keppel shares closed down S$0.07 or 1.7 per cent to S$4.12 on Tuesday, before the news.
Asian Healthcare Specialists: The medical services group has redeemed the remaining S$4 million of a convertible bonds issuance to a unit of Temasek Holdings' Heliconia. Shares of Catalist-listed Asian Healthcare Specialists closed up half a Singapore cent or 2.7 per cent to 19 cents on Tuesday, before the announcement.
Singapore Airlines (SIA): Weak travel demand aside, the flag carrier has major problems to fix, The Business Times wrote on Wednesday. Among other things, one analyst noted SIA's "poor track record" in foreign investments with other airlines. SIA shares closed at S$3.36 on Tuesday, down S$0.06 or 1.8 per cent.
Trading halt: Agri-commodities company Wilmar International requested a trading halt on Wednesday morning before the market opened, pending the release of an announcement. The counter closed at S$4.38 on Tuesday, up S$0.03 or 0.7 per cent.