Market Snapshot
Singapore stocks opened mixed on Tuesday, with the STI down slightly by 0.13%; AEM SGD up over 3%; UMS up about 1.6%, Singtel rose 0.6%; DBS fell 0.8%, OCBC Bank fell 0.5%, UOL fell nearly 1%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Tuesday (Jun 30):
Aspial Corp : The conglomerate on Monday proposed the disposal of its subsidiary’s 100 per cent stake in an Australian freehold property for A$33.6 million (US$23.1 million), with net proceeds of about A$27.1 million. Aspial said it plans to use the proceeds towards repayment of the existing loans on the property and for general working capital purposes. The 30 Albert Street was planned to be a 91-storey residential skyscraper in Brisbane. Shares of Aspial Corporation closed flat at S$0.147 on Monday, before the news.
SG Local News
Singapore private housing is ‘decoupling’ from HDB market as buyer pools diverge: NUS survey
A structural divide may be emerging between Singapore’s public and private housing markets, as widening affordability gaps and policy measures increasingly shape buying dynamics.
In a survey by the National University of Singapore’s (NUS) Institute of Real Estate and Urban Studies (Ireus), 31 per cent of respondents said they expect the private market to eventually become “structurally decoupled” from the Housing & Development Board (HDB) market, driven by “distinct buyer profiles with differing capacities and capital outlays”.
SIA inks joint venture pact with Air China to enhance route coordination, revenue sharing
Singapore Airlines and Air China on Monday (Jun 29) inked a pact to establish a joint venture (JV), to “deepen their collaboration and offer customers more travel options”.
The memorandum of understanding (MOU) between the two airlines was signed in Beijing by SIA CEO Goh Choon Phong and Air China president Qu Guangji.
In a joint statement, the carriers said that they “plan to coordinate flight schedules, explore joint fare products, and pursue joint marketing and revenue-sharing arrangements”, adding that these initiatives are subject to regulatory approvals.
JPMorgan adds Singapore dollar to blockchain network for 24/7 corporate payments
JPMorgan Chase’s blockchain unit is adding the Singapore dollar to its global deposit network as the bank expands its tokenised deposit efforts.
Tokenised deposits are digital coins that represent traditional bank money on a blockchain. They differ from stablecoins in that they are issued by regulated commercial banks, instead of private companies.
JPMorgan’s digital payments unit, Kinexys, will now allow financial institutions and multinational corporations to execute 24/7 on-chain foreign exchange between the Singdollar and six other major currencies, including the US dollar and the euro.
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