SG Morning Call | STI Edges Down 0.2%; JMH USD Climbs Over 1%; UMS Falls Nearly 2%.
Market Snapshot
Singapore Stocks Open Mixed on Friday; STI Edges Down 0.2%; JMH USD Climbs Over 1%; DBS Slips 0.4%; AEM SGD Drops 1.6%; UMS Falls Nearly 2%.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Friday (Jul 3):
$Frasers Property(TQ5.SI)$: Soon Su Lin will step down as the CEO of Frasers Property Singapore on Oct 1, transitioning to a group advisory role, the property group announced on Friday. She will be succeeded by Tan Wee Hsien, 55, who is scheduled to join the company as CEO-designate on Sep 8. Shares of Frasers Property ended at S$1.07 on Thursday, up 0.9 per cent or S$0.01.
$EliteUKREIT GBP(MXNU.SI)$: The manager of the real estate investment trust (Reit) on Friday announced the divestment of four properties located in Wales for a total sale consideration of £6 million (US$8 million). The properties were sold to an unrelated third-party purchaser through the Reit’s wholly owned subsidiaries, Elite Gemstones Properties and Elite Amphora. The net proceeds generated from this divestment will be recycled into high-growth opportunities. Units of Elite UK Reit fell 1.6 per cent or £0.005 to end at £0.31 on Thursday.
SG Local News
Singapore’s PMI edges up to 51.3 in June on AI-related tailwinds
The Republic’s factory activity expanded at a faster pace in June, remaining supported by artificial intelligence-related tailwinds amid continued – but potentially easing – challenges posed by the ongoing Middle East conflict.
The purchasing managers’ index (PMI) edged up 0.3 point to 51.3, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Thursday (Jul 2). This marked 11 consecutive months of growth and the highest reading since November 2018.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
