Latest news with #CityDevelopments
Straits Times
6 days ago
- Business
- Straits Times
Singapore shares fall in tandem with most regional indexes, STI declines 0.3%
Find out what's new on ST website and app. City Developments was the top gainer on the STI, closing up 2.9% at $6.38. SINGAPORE - The Straits Times Index (STI) closed lower on July 25, mirroring most regional indexes. The STI fell 0.3 per cent or 11.99 points to 4,261.06. Across the broader market, advancers outnumbered decliners 335 to 245 after 2.2 billion shares worth $1.8 billion changed hands. The trio of local banks closed lower on July 25, with DBS down 0.3 per cent or 15 cents at $49.06. UOB dropped 0.6 per cent or 21 cents to $37.15 and OCBC ended 0.5 per cent or nine cents lower at $17.18. City Developments was the top gainer on the STI, closing up 2.9 per cent or 18 cents at $6.38. The biggest loser was Sembcorp Industries closing down 1.5 per cent or 12 cents at $7.72. Across the region, major indexes were mostly down, with only the Kospi up 0.2 per cent and the Nikkei 225 down 0.9 cent. Hong Kong's Hang Seng Index closed down 1.1 per cent and the KLCI, 0.4 per cent. Top stories Swipe. Select. Stay informed. Singapore SMRT to pay lower fine of $2.4m for EWL disruption; must invest at least $600k to boost reliability Singapore MRT service changes needed to modify 3 East-West Line stations on Changi Airport stretch: LTA Asia Live: Thailand-Cambodia border clashes continue for second day Singapore Vapes: The silent killer hiding in the pocket Singapore Vape disposal bins at 23 CCs for users to surrender e-vaporisers without facing penalties Singapore Fine for couple whose catering companies owed $432,000 in salaries to 103 employees Singapore Tipsy Collective sues former directors, HR head; alleges $14m lost from misconduct, poor decisions Singapore Kopi, care and conversation: How this 20-year-old helps improve the well-being of the elderly The markets are turning cautious as the US and China enter trade talks next week in Stockholm, Sweden, said Mr Stephen Innes, managing partner at SPI Asset Management. Officials will try to stitch a deal together before the Aug 12 expiry, and there are some tricky issues to navigate, namely Chinese industrial overcapacity and relief on export controls and access to more AI components. The 15 per cent tariff pact between Japan and the US is aiding the White House narrative that tariffs are levers and not a lid, he added.
Straits Times
16-07-2025
- Business
- Straits Times
Singapore shares rise to new high; STI up 0.3%
Find out what's new on ST website and app. The STI's top gainer was City Developments, up 6.3 per cent to $5.92. SINGAPORE – Concerns about US inflation failed to deter local investors from pushing the bourse to a new high and its third straight day of gains this week. The optimism left the benchmark Straits Times Index (STI) up 0.3 per cent or 12.43 points to 4,132.25 on July 16 – just shy of its intra-day peak of 4,132.41, with gainers outpacing losers 384 to 178 on trade of 1.5 billion securities worth $1.3 billion. The STI's top gainer was City Developments, up 6.3 per cent to $5.92. The property developer's shares surged after it announced that director Philip Yeo, who had backed executive chairman Kwek Leng Beng in his boardroom battle against his son, would be retiring. The biggest decliner was CapitaLand Integrated Commercial Trust, which fell 1.4 per cent to $2.19. The trust was also the most actively traded counter by volume, with 27.3 million units traded. Regional bourses mostly ended in the red, amid those signs of rising US inflation. Japan's Nikkei 225 was down 0.04 per cent, South Korea's Kospi fell 0.9 per cent, the ASX 200 in Sydney retreated 0.8 per cent for its worst day since May 5 and Hong Kong's Hang Seng dipped 0.3 per cent. The losses largely mirrored Wall Street overnight after reports showing inflation picked up in June, a potential sign that tariffs are having an impact. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore Strong argument for cockpit video recording, says Iata chief in wake of Air India crash report Singapore Here comes the sun: Less rain, more warm days in second half of July Asia Former deputy minister seen as surprise front runner for Malaysia's next Chief Justice: Sources Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict Business Tycoon Robert Kuok's daughter Kuok Hui Kwong appointed CEO of Shangri-La Asia Singapore Acute psychiatry services to be expanded across all healthcare clusters: MOH Singapore New network links Home Team psychologists, mental health bodies to boost emergency response The S&P 500 edged 0.4 per cent, the Dow fell 1 per cent while the Nasdaq rose 0.18 per cent to a fresh high. Mr Alvin Liew, senior economist at UOB, said that the higher consumer price index figures in the US for June show 'clearer marks of tariff-induced price increases'. However, he expects the Federal Reserve to remain patient in cutting interest rates amid uncertainty over the impact of US tariffs.
Business Times
16-07-2025
- Business
- Business Times
Singapore shares rise to new high; STI up 0.3%
[SINGAPORE] Shares on the Singapore bourse closed higher on Wednesday (Jul 16), marking the third straight day the benchmark Straits Times Index (STI) hit a new high. Other regional markets ended lower, amid signs of rising US inflation that is dampening investor sentiment. The STI rose 0.3 per cent or 12.43 points to close at 4,132.25 – just shy of its intra-day peak of 4,132.41. Across the broader market, advancers outnumbered decliners 384 to 178, with 1.5 billion securities worth S$1.3 billion traded. The top gainer on the benchmark index was City Developments (CDL) , which rose 6.3 per cent or S$0.35 to S$5.92. The property developer's shares surged on Wednesday after it announced that its board director Philip Yeo, who had backed executive chairman Kwek Leng Beng in his boardroom battle against his son, would be retiring. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The biggest decliner was CapitaLand Integrated Commercial Trust . The counter fell 1.4 per cent or S$0.03 to S$2.19. The trust was also the most actively traded counter by volume, with 27.3 million units worth S$59.8 million traded. Regional bourses mostly ended Wednesday lower. Japan's Nikkei 225 was down 0.04 per cent, and South Korea's Kospi was down 0.9 per cent. Australia's ASX 200 fell 0.8 per cent, and Hong Kong's Hang Seng Index fell 0.3 per cent. Their performance follows Tuesday's release of figures showed that the US consumer price index – an indicator for inflation – had risen 2.7 per cent year on year in June, up from 2.4 per cent the month before. Alvin Liew, senior economist at UOB, said that the higher consumer price index figures for June show 'clearer marks of tariff-induced price increases'. However, he expects the US Federal Reserve to remain patient in cutting interest rates amid uncertainty over the impact of US tariffs. UOB continues to hold the view that there would be three rate cuts of 25 basis points each in September, October and December.
Forbes
04-07-2025
- Business
- Forbes
City Developments, UOL Shares Drop After Singapore Tightens Property Curbs
The Marina Bay Sands hotel and casino and the Merlion statue in Singapore, on Tuesday, May 14, 2024. ... More Shares of Singapore's biggest developers fell on Friday after the government introduced new measures to curb housing prices in one of the world's most expensive property markets. The government raised the stamp duty for investors who sell their private homes within four years, according to a joint statement from the Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore late Thursday. Under the new rules that will take effect from today, those selling their property within one year of purchase will have to pay a 16% tax from 12% previously. The holding period for homes that will incur the stamp duty has also been extended to four years from three years previously. Shares of developers fell in Singapore midafternoon trading. City Developments declined 3.3%, while those of UOL Group slipped 2.9% and Frasers Property fell 0.6%. The government is introducing fresh measures to tame the increasing subsales—the practice of selling uncompleted residential developments for a quick profit—Leonard Tay, research head of Knight Frank in Singapore, wrote in an emailed statement. From just 198 transactions in 2020, the number of sub sales jumped to 1,428 in 2024, it noted. 'The government is not taking the risk of subsales pushing up prices, even though this might-or-might not happen and has decided to increase the holding period and seller's stamp duty rates,' Tay wrote. While the number of new private home sales dropped to a five-month low in May, prices remained resilient, rising 0.5% in the second quarter from the previous three months, according to preliminary data released by the government this week. The government has been trying to rein in property prices with a number of cooling measures such as higher levies on foreign buyers that was introduced in 2023. The government's fresh property curbs should have a muted impact on the housing market, Vijay Natarajan, an analyst at RHB Investment Bank in Singapore, said. 'We believe the majority of buyers at new launches are genuine home owners,' he said. 'Furthermore, the ramp-up in new home supply over the last two years and a volatile macroeconomic condition has reduced the allure of speculative purchases at new launches.' Following a lull in new launches in recent months, some developers have unveiled new projects recently. Frasers Property—controlled by by Thai billionaire Charoen Sirivadhanabhakdi and his family—and Japan's Sekisui House have started marketing the 348-unit The Robertson Opus, a residential and retail complex, along the Singapore River near the Raffles Place central business district. City Developments—controlled by billionaire Kwek Leng Beng and his family—is preparing to launch the 706-unit Zyon Grand near the Orchard Road shopping district in the second half. UOL Group—controlled by the family of late banking and real estate tycoon Wee Cho Yaw—is also planning to market the 301-unit Upperhouse residential tower on Orchard Boulevard later this year.
Independent Singapore
04-07-2025
- Business
- Independent Singapore
STI hits 4,019.57 just before Thursday's market close
Photo: Depositphotos/tang90246 SINGAPORE: The Straits Times Index (STI) hit a new high of 4,019.57 points just before the market closed on July 3, the second consecutive day the index ended above the 4,000-point level, The Edge Singapore reported. On July 2, the index closed above 4,000 points for the first time at 4,010.77. It stayed above that level throughout the session on Thursday (July 3) and reached an intraday low of 4,001.84 at 2 p.m. After 5 p.m., the STI surged to an all-time high and ended the day at 4,019.57 — up 0.22% from its opening level of 4,009.33. On Monday (June 30), STI started at 3,970.09 points. The top-performing stocks in the STI's 30-company list on July 3 included DFI Retail Group, which rose 4.98%, followed by City Developments, climbing 2.23%, and Hongkong Land, which edged up 1.74%. Meanwhile, UOL Group, which led the gainers the day before, fell 1.19%. Keppel DC REIT and Singtel also stumbled 0.86% and 0.77%, respectively. The last time the index broke the 4,000 mark was on March 28 , the first time it finally surpassed the level. The Business Times reported that the index hit a record 4,005.18 points just after the market opened that day. The Edge Singapore reported that the banking and telecommunications sector strongly contributed to the STI's breakthrough. /TISG Read also: FLCT posts 13.8% YoY drop in 1HFY2025 DPU to 3 cents Featured image by Depositphotos (for illustration purposes only)
