Market Review
SINGAPORE shares were relatively unchanged on Tuesday (Sep 26), amid declines in the region.
The Straits Times Index (STI) inched down 0.01 per cent, or 0.33 point, to close at 3,215.07. Losers outnumbered gainers 287 to 247, with 1.1 billion securities worth S$815.8 million changing hands.
Local News to Watch
Singapore Aug manufacturing output dives 12% y/y, more than expected
Singapore's industrial output in August fell 12.1% year-on-year, contracting for an 11th consecutive month and more steeply than expected, mainly due to a slump in electronics, official data showed on Tuesday.
Economists had expected a 3.1% year-on-year contraction in August, according to a Reuters poll. On a month-on-month and seasonally adjusted basis, industrial production fell 10.5% in August, missing economists' expectation of a 1.7% contraction.
Electronics, a key contributor to Singapore's industrial output, plunged 20% year-on-year in August, data from the Singapore Economic Development Board showed, reflecting faltering global demand.
Condo resale prices reverse slide in August, led by suburban gains: SRX, 99.co
RESALE prices of condominiums rose 1 per cent in August, led by higher prices in suburban locations and reversing two straight months of decline, flash estimates from 99.co and SRX showed on Tuesday (Sep 26).
Year on year, condo resale prices were 7.6 per cent higher.
An estimated 880 units were resold in August, an increase of 3 per cent from July. Year on year, the volume was down 16.6 per cent compared with August 2022, and 8.3 per cent lower than the five-year average for the month.
UOB, DBS roll out new anti-malware app features in fight against scams
UOB and DBS are introducing new security features to their banking apps in a move to prevent their users from falling prey to malware-enabled scams.
On Tuesday (Sep 26), the two banking giants said that the new measures will be rolled out progressively from September, with UOB’s to start from Sep 27.
Both stressed that the new anti-malware features do not monitor customers’ phone activities, nor collect or store any personal data.
OCBC to discontinue Pay Anyone app in October
OCBC will discontinue the OCBC Pay Anyone app in October to provide an improved app experience, it said.
The Pay Anyone app was an avenue for OCBC customers to send funds to or receive funds from anyone with a PayNow account. Customers could also withdraw cash at OCBC ATMs without needing a card via the app.
All popular functions on the app have been consolidated on the OCBC Digital app, which is the bank’s mobile app for digital banking services, OCBC said on its website. These include local and overseas payments, transfers to contacts and cardless cash withdrawal from OCBC ATMs.