SG Morning Call | Singapore Stocks Open Flat; ST Engineering up 0.8%; DBS, UOB up Slightly; Singtel, iFast, Seatrium Down Within 1%

TigerNews_SG
09:05

Market Snapshot

Singapore stocks opened flat on Friday. ST Engineering up 0.8%; DBS, UOB up slightly; Singtel, iFast, Seatrium down within 1%.

Stocks in Focus

$ST Engineering(S63.SI)$: The company’s urban solutions business will be deploying a suite of intelligent transport systems solutions for Singapore’s Land Transport Authority, to create a more responsive and future-ready road transport network in the country. The solutions consist of a new iTransport platform, a traffic monitoring camera system and an integrated traffic and plant management system, said the company in a Friday bourse filing. Shares of ST Engineering closed 0.5 per cent or S$0.06 higher at S$11.15 on Thursday.

UI Boustead Reit: The real estate investment trust (Reit) made its trading debut on Thursday, marking Singapore’s first mainboard and Reit listing of the year. It started trading at S$0.805, 8.5 per cent below the initial public offering price of S$0.88. It ended the day at its opening price with close to 103 million shares transacted. Units of the Reit closed on Thursday at S$0.805.

$MoneyMax Financial Services(5WJ.SI)$: The group on Friday announced that the offering of the Series 003 notes and the Series 004 notes have closed at 12 pm on Thursday. The company raised S$63.3 million in gross proceeds from the issuance of the Series 003 notes and S$25.3 million from the Series 004 notes. The counter closed flat on Thursday at S$0.82.

SG Local News

Iran War Raises Inflation Risks, Tips Scales for MAS to Go for Stronger Singdollar in April: Economists

The escalating conflict in the Middle East and sharp rise in crude oil prices have tilted the odds in favour of the Monetary Authority of Singapore (MAS) tightening monetary policy at its review in April, analysts said.

Several economists now expect MAS to steepen the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band at the meeting, in what would be its first tightening move since October 2022.

The next monetary policy statement will be released on or before Apr 14.

$(STI.SI)$
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