Latest news with #SingaporeExchange
Business Times
a day ago
- Business
- Business Times
Singapore stocks fall as Trump tariffs resume for now; STI retreats 0.6%
[SINGAPORE] Local equities ended Friday (May 30) lower, after an appeals court in the United States paused a ruling that blocked President Donald Trump's sweeping tariffs. The benchmark Straits Times Index declined 0.6 per cent or 22.23 points to 3,894.6. Across the broader market, decliners beat gainers 248 to 209, as 1.3 billion securities worth S$3.3 billion changed hands. Singapore Exchange market strategist Geoff Howie said: 'The session ended with a bout of S$2.23 billion of institutional rebalancing related to the MSCI Quarterly Index Review on the close. 'Supporting the high turnover on the close, Singapore-listed stocks have both increased their weightage and comparative trading turnover within the MSCI Asia Ex-Japan Index since the end of 2024.' The US appeals court on Thursday paused a ruling from the Court of International Trade, which found that Trump did not have the authority to impose the 'Liberation Day' tariffs. 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 Ipek Ozkardeskaya, analyst at Swissquote Bank, said the early trade optimism triggered by the US Court of International Trade's ruling 'turned out too good to be true' as the ruling is now effectively on hold. 'If tariffs are ultimately found to be unlawful, the willingness of partners to make concessions during trade talks may shrink – not exactly ideal, especially given the critical window for negotiations,' she said. Regional indices reacted negatively to the news. Hong Kong's Hang Seng Index lost 1.2 per cent. South Korea's Kospi fell 0.8 per cent, while Japan's Nikkei 225 declined 1.2 per cent. The Bursa Malaysia Kuala Lumpur Composite Index decreased 0.7 per cent. In Singapore, the STI was led by pan-Asian retailer DFI Retail Group , which added 3 per cent or US$0.08 to US$2.76. After the market closed, the group announced it will be divesting a 22.2 per cent stake in department store operator Robinsons Retail. The index was dragged by DFI's parent company Jardine Matheson , which declined 2.4 per cent or US$1.10 to US$44.50. This comes after the group on Thursday announced that its chief executive John Witt is retiring from the company at the end of November, with Lincoln Pan to take on the role of CEO-designate. The trio of local banks were in the red on Friday. DBS fell 0.6 per cent or S$0.27 to S$44.72, UOB declined 1.2 per cent or S$0.43 to S$35.41 and OCBC retreated 1 per cent or S$0.16 to S$16.23.
Business Times
2 days ago
- Business
- Business Times
Singapore stocks fall as Trump tariffs resumes for now; STI retreats 0.6%
[SINGAPORE] Local equities ended Friday (May 30) lower, after an appeals court in the United States paused a ruling that blocked President Donald Trump's sweeping tariffs. The benchmark Straits Times Index declined 0.6 per cent or 22.23 points to 3,894.6. Across the broader market, decliners beat gainers 248 to 209, as 1.3 billion securities worth S$3.3 billion changed hands. Singapore Exchange market strategist Geoff Howie said: 'The session ended with a bout of S$2.23 billion of institutional rebalancing related to the MSCI Quarterly Index Review on the close. 'Supporting the high turnover on the close, Singapore-listed stocks have both increased their weightage and comparative trading turnover within the MSCI Asia Ex-Japan Index since the end of 2024.' The US appeals court on Thursday paused a ruling from the Court of International Trade, which found that Trump did not have the authority to impose the 'Liberation Day' tariffs. 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 Ipek Ozkardeskaya, analyst at Swissquote Bank, said the early trade optimism triggered by the US Court of International Trade's ruling 'turned out too good to be true' as the ruling is now effectively on hold. 'If tariffs are ultimately found to be unlawful, the willingness of partners to make concessions during trade talks may shrink – not exactly ideal, especially given the critical window for negotiations,' she said. Regional indices reacted negatively to the news. Hong Kong's Hang Seng Index lost 1.2 per cent. South Korea's Kospi Composite Index fell 0.8 per cent, while Japan's Nikkei 225 declined 1.2 per cent. The Bursa Malaysia Kuala Lumpur Composite Index decreased 0.7 per cent. In Singapore, the STI was led by pan-Asian retailer DFI Retail Group , which added 3 per cent or US$0.08 to US$2.76. After the market closed, the group announced it will be divesting a 22.2 per cent stake in department store operator Robinsons Retail. The index was dragged by DFI's parent company Jardine Matheson , which declined 2.4 per cent or US$1.10 to US$44.50. This comes after the group on Thursday announced that its chief executive John Witt is retiring from the company at the end of November, with Lincoln Pan to take on the role of CEO-designate. The trio of local banks were in the red on Friday. DBS fell 0.6 per cent or S$0.27 to S$44.72, UOB declined 1.2 per cent or S$0.43 to S$35.41 and OCBC retreated 1 per cent or S$0.16 to S$16.23.
Business Recorder
2 days ago
- Business
- Business Recorder
Dalian iron ore rebounds
SINGAPORE: Iron ore futures snapped a four-day losing streak on Thursday, buoyed by upbeat market sentiment after a US federal court blocked President Donald Trump's 'Liberation Day' tariffs from going into effect. The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) traded 1.15% higher at 706 yuan ($98.06) a metric ton, as of 0255 GMT. The benchmark June iron ore on the Singapore Exchange was 0.74% higher at $96.8 a ton. A US trade court on Wednesday blocked Trump's tariffs from going into effect in a sweeping ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. Trump in recent months has imposed 25% tariffs on autos and steel. The court ruling has buoyed investor sentiment and brings a rebound opportunity to ferrous markets, said broker Galaxy Futures. Still, seasonal demand for steel has peaked, and demand for construction materials will continue to decline, added Galaxy.
Yahoo
2 days ago
- Business
- Yahoo
Get Smart: REITs for the Long Term
It's not been an easy ride for REITs over the past five years. First, there was the pandemic in 2020 which forced malls and offices to impose movement control measures. Then, just as things were looking up in 2022, the sector was hit with higher interest rates. Amid all the challenges, it's easy to forget a simple fact: REITs are built to provide income to unitholders like you and me. And when things get messy, it's useful to return to the core principles. REITs are bundles of rental-generation real estate assets that are packaged together and traded on an exchange. Their requirement to pay out a distribution that is at least 90% of their net profit makes them ideal for income-seeking investors. If you wish to rely on a steady stream of dividends that help you to augment your earned income, REITs are the perfect asset class for you. You can treat it as a long-term bond-like instrument that distributes regular income from a recurring rental income stream. It's easy to forget this simple fact amid the noise. But one thing's for sure – all of them are continuing to pay out distributions to their unitholders. At a recent event, my colleague Chin was one of the speakers invited to share his thoughts. He made three very good points about buying REITs that I am happy to share with all of you. Because we cannot control the external environment, we should, instead, stick to what we can control. And we can control which REITs we buy, how much of them we purchase, and when we buy them. The idea is to scan through the list of available REITs on the Singapore Exchange and pick those with strong sponsors and solid DPU track records. Strong sponsors include CapitaLand Investment Limited (SGX: 9CI) and Mapletree Investments Pte Ltd. A great example of a REIT with a solid DPU track record is Parkway Life REIT (SGX: C2PU), which has grown its core DPU every year since its IPO in 2007. Next, you can control your risk by sizing your position accordingly. If you feel comfortable with a REIT such as Mapletree Industrial Trust (SGX: ME8U), it can occupy a 5% position within your portfolio. But if you feel wary of it, but still wish to gain some exposure, you can buy either a 0.5% or 1% position. Finally, you can also choose when to buy your REITs so that you space out your purchases. You can choose to set up a system of regular purchases by allocating several hundred dollars a month to buy a choice REIT. Or to wait for a sharp market pullback to increase your stake in REITs that you favour. It's really up to you. The key is to remember that REITs are meant for income, and if you buy enough of the right REIT, then you can secure a useful stream of passive income for life. REITs are at a crossroads now. Singapore REITs are trading at almost a 20% discount to their long-term average valuation. This fact implies that they are cheap because of the poor sentiment surrounding the asset class. But with patience and the right selection, it may be a great opportunity to scoop up REITs for the long term. By doing so, you can enjoy average distribution yields of around 6% to 7% and increase your passive income stream for life. This could be the fastest way to jump from a 'newbie' investor to a seasoned pro. Our beginner's guide shows everything you need to know to buy your first stock and beyond. Click here to download it for free today. Follow us on Facebook and Telegram for the latest investing news and analyses! Disclosure: Royston Yang owns shares of Mapletree Industrial Trust. The post Get Smart: REITs for the Long Term appeared first on The Smart Investor.
Business Times
2 days ago
- Business
- Business Times
Proportion of female directors at top 100 SGX companies surpasses 25% target in 2024
[SINGAPORE] The proportion of female directors in the largest 100 Singapore-listed companies hit 25.1 per cent last year, up from 23.7 per cent in 2023, the latest edition of the Singapore Board Diversity Review reported. The study, released on Friday (May 30), analysed the top 100 companies by market capitalisation with a primary listing on the Singapore Exchange (SGX), as well as the overall market. Not only did the result surpass the 25 per cent target set by the Council for Board Diversity (CBD), the target was achieved a year ahead of its end-2025 deadline. The CBD, which authored the study, noted in the report on the findings: 'The growing participation of women directors across corporate boards has been encouraging and reflective of the evolving business landscape, efforts by the director ecosystem, and the introduction of regulatory enhancements.' Among all 615 Singapore-listed companies, the proportion of female directors improved to 18.1 per cent last year – up from 16.1 per cent in 2023 and 8.1 per cent in 2013. That said, 188 Singapore-listed companies, or 31 per cent, still had all-male boards. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up More female leaders Women held 13 per cent of all board leadership roles in Singapore-listed companies last year, up from 11 per cent in 2023. These roles included chairmanship of the board or on nominating committees (NCs) and audit and remuneration committees. However, the proportion of female board chairs stood at just 8 per cent last year. This mirrors the 8.4 per cent global average, highlighting that 'disproportionately few' women advance to this position, the CBD said. Separately, the study observed that the gender mix of the board tends to improve when women serve as NC chair or member. Among Singapore-listed companies in which NCs had at least one woman, 33 per cent of board appointees between 2020 and 2024 were female. The rate stood at just 11 per cent for companies with all-male NCs. 'The findings support observations that women leaders are more likely to tap expanded networks for a more inclusive nomination process, and to ensure qualified women are included in candidate shortlists,' the CBD said. 'Women in key board roles is itself a strong indicator of board culture and can serve to attract additional female board talent', as well as candidates who value board diversity, it added. In the report, Teo Siong Seng, chairman of the Singapore Business Federation (SBF), noted that the improvement in diversity happened without gender quotas being imposed on boards. This made the change 'more sustainable', he said. First-time directors The study found that Singapore-listed companies appointed 310 first-time directors last year – the largest cohort since at least 2015. This points to 'greater value being placed on the skills, expertise and potential of a new board talent, over prior directorship experience', the CBD noted. The most sought-after skill set for new directors was finance and investment expertise, followed by strategy and management. There was a better balance between new and long-serving directors. Among the top 100 companies, the average tenure of a director fell to 6.4 years, from 6.8 years in 2020. Four in 10 independent directors started their appointment under three years ago. Among all Singapore-listed companies, 55 per cent of directors were independent last year, up from 49 per cent in 2016. The improvement comes after the regulatory arm of the SGX capped independent directors' tenure at nine years in 2023. As Teo of the SBF noted: 'We're seeing organisations recognise that board diversity is part of corporate governance, and that it makes their boards and businesses more resilient.'
