The $DJIA(.DJI)$ fell 58.13 points, or 0.18%, to 32,774.41. The $S&P 500(.SPX)$ fell 17.59 points, or 0.42%, to 4,122.27 The $NASDAQ(.IXIC)$ droped 150.53 points, or 1.19%, to 12,493.93.
Weakness in U.S. technology stocks, mainly due to Micron Technology's warning of a slowdown in chip market demand, has investors worried about the economic outlook. Also, the U.S. will release the Consumer Price Index for July on Wednesday, U.S. time, and investors are paying close attention to this key data.
Morning news for the Singapore stock market
1, $PROPNEX LIMITED(OYY.SI)$($1.66, -0.02, -1.19%) today released its first-half results for the period ended March, with net profit down 17.7% year-on-year to $28.28 million and revenue down 1.8% to $472.33 million, mainly due to the government's introduction of property cooling measures last year, prompting a weak first-half performance in terms of trading volume. For the second quarter, net income fell 26.2% year-over-year to $13.41 million, while revenue also fell 11.4% to $230.71 million.
2, $ADDVALUE TECHNOLOGIES LTD(A31.SI)$($0.016, 0.00, 0.00%) disclosed yesterday that Loft Orbital, a U.S. aerospace and satellite communications start-up, is one of the Group's customers, providing it with inter-satellite link data transmission services (IDRS). The Group currently has 10 customers in this area of business. The company proposes an interim dividend of 5.5 cents per share.
3, $INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$($0.027, +0.001, +3.01%) announced its results for the first half of the fiscal year ended June. The Group's net profit fell 15% year-on-year to $11.07 million, mainly due to exchange rate losses; revenue rose 9% year-on-year to $92.32 million.
Morning news for Hong Kong stock market:
Policy support Nuclear power investment expected to exceed 100 billion per year
On August 9, at the 29th International Nuclear Engineering Conference, Wang Shoujun, President of the Chinese Nuclear Society, said that China is expected to further accelerate the expansion of installed capacity between 2022 and 2025, maintaining an approved start-up rhythm of 6-8 nuclear power units per year, with an installed nuclear power operating capacity of about 70 million kilowatts in 2025; by 2035, China's nuclear power share of total power generation will reach 10%.
In April 2022, the State Council executive meeting approved six nuclear power unit projects, the largest number of approvals in recent years. On June 16 this year, Meng Wei, deputy director of the Political Research Office of the National Development and Reform Commission, said at a press conference that in terms of ensuring energy security, a number of nuclear power and hydropower projects should be started and constructed urgently. Related Hong Kong stocks involved include SH ELECTRIC (2727), Harbin Electric (1133), Dongfang Electric (1072), CGN Power (1816), CGN Mining (1164), etc.
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