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Straits Times
3 days ago
- Business
- Straits Times
Singapore shares up again, lifted by retail sales growth; STI rises 0.3%
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE - The Straits Times Index (STI) settled higher on Aug 5 for the second consecutive session, supported by stronger-than-expected retail sales figures for June. Retail sales rose 2.3 per cent year-on-year that month, indicated data released by the Department of Statistics. The growth was broad-based across industries and exceeded the median estimate of 2 per cent by private-sector economists polled by Bloomberg. The STI closed up 0.3 per cent or 11.35 points at 4,208.58. Across the broader market, advancers outnumbered decliners 297 to 218, after 1.6 billion shares worth $1.4 billion changed hands. The biggest gainer on the index was Thai Beverage, rising 2.2 per cent or one cent to 47 cents. At the bottom of the index was CapitaLand Ascendas Reit, which fell 1.8 per cent or five cents to $2.75. The decline followed the real estate investment trust's announcement of a 2 per cent year-on-year decrease in H1 revenue, which fell to $754.8 million. This was primarily due to the divestment of five properties across Australia, Singapore and the US, as well as the planned decommissioning of a UK property slated for redevelopment in June 2024. The trio of local banks ended the day mixed, with DBS Bank rising 0.7 per cent or 35 cents to $48.24 and OCBC Bank gaining 0.5 per cent or eight cents to $16.98. However, UOB finished flat at $36.37. Top stories Swipe. Select. Stay informed. Singapore 'She had a whole life ahead of her': Boyfriend mourns Yishun fatal crash victim Singapore Beauty industry consumers hit by 464% rise in prepayment losses in first half of 2025 Singapore Doctor hounds ex-girlfriend, threatens to share her intimate photos, abducts her from public street Singapore 13 taken to hospital after accident involving SBS buses, car in Tampines Singapore New cargo handling centre at Changi Airport reduces processing time; test bed for future T5 ops Singapore 60 lactation pods to be set up in public spaces by Q1 2026 for breastfeeding mothers Life Urinary issues: Enlarged prostate affects half of men in their 50s and up Singapore Elderly man charged after he allegedly molested, performed sex act on 'vulnerable' man OCBC chief economist Selena Ling noted that the recently released retail sales figure fell short of her forecasted 2.7 per cent growth. She attributed the softer momentum to the June school holidays, when many Singaporean families travelled overseas to 'take advantage of improved purchasing power' with the Singapore dollar's strength. Looking ahead, she cautioned that input cost inflation in Singapore has reached a six-month high while selling prices remain largely unchanged. 'The latter suggests that margin erosion could be a theme to watch for the months ahead, particularly when reciprocal tariffs kick in and there could be reverberations through the global supply chains, since competitive pressures may be limiting the corporates' ability to pass on rising costs during a period when demand conditions is softening,' Ms Ling added. Meanwhile, across the region, major indexes closed higher. The Kospi rose 1.6 per cent and the Nikkei 225 added 0.6 per cent.
Business Times
4 days ago
- Business
- Business Times
Singapore shares boosted by retail sales growth; STI up 0.3%
[SINGAPORE] The Straits Times Index (STI) settled higher on Tuesday (Aug 5) for the second consecutive session, supported by stronger-than-expected retail sales figures for June. Retail sales rose 2.3 per cent year on year that month , indicated data released by the Department of Statistics. The growth was broad-based across industries and exceeded the median estimate of 2 per cent by private-sector economists polled by Bloomberg. The STI closed up 0.3 per cent or 11.35 points at 4,208.58. Across the broader market, advancers outnumbered decliners 297 to 218, after 1.6 billion shares worth S$1.4 billion changed hands. The biggest gainer on the index was Thai Beverage , rising 2.2 per cent or S$0.01 to S$0.47. At the bottom of the index was CapitaLand Ascendas Reit , which fell 1.8 per cent or S$0.05 to S$2.75. The decline followed the real estate investment trust's announcement of a 2 per cent year-on-year decrease in H1 revenue , which fell to S$754.8 million. This was primarily due to the divestment of five properties across Australia, Singapore, and the US, as well as the planned decommissioning of a UK property slated for redevelopment in June 2024. 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 trio of local banks ended the day mixed, with DBS rising 0.7 per cent or S$0.35 to S$48.24 and OCBC gaining 0.5 per cent or S$0.08 to S$16.98. However, UOB finished flat at S$36.37. OCBC chief economist Selena Ling noted that the recently released retail sales figure fell short of her forecasted 2.7 per cent growth. She attributed the softer momentum to the June school holidays, when many Singaporean families travelled overseas to 'take advantage of improved purchasing power' with the Singapore dollar's strength. Looking ahead, she cautioned that input cost inflation in Singapore has reached a six-month high while selling prices remain largely unchanged. 'The latter suggests that margin erosion could be a theme to watch for the months ahead, particularly when reciprocal tariffs kick in and there could be reverberations through the global supply chains, since competitive pressures may be limiting the corporates' ability to pass on rising costs during a period when demand conditions is softening,' Ling added. Meanwhile, across the region, major indices closed higher. The Kospi rose 1.6 per cent and the Nikkei 225 added 0.6 per cent. Hong Kong's Hang Seng Index ticked up 0.7 per cent, and the Bursa Malaysia Kuala Lumpur Composite Index edged 0.8 per cent higher.
Straits Times
4 days ago
- Business
- Straits Times
Singapore shares bounce back after 6-day losing streak; STI up 1%
Sign up now: Get ST's newsletters delivered to your inbox Across the broader market, advancers beat decliners 361 to 206, after 1.5 billion securities worth $1.5 billion changed hands. SINGAPORE - Stocks on the Singapore Exchange (SGX) rebounded on Aug 4, snapping a six-day losing streak, even as Asian indexes closed mixed. The local market had fallen for six straight sessions from July 25 to Aug 1, marking its longest losing streak since April 9. The Straits Times Index (STI) rose 1 per cent or 43.4 points to 4197.23. Across the broader market, advancers beat decliners 361 to 206, after 1.5 billion securities worth $1.5 billion changed hands. 'The broad bid tone was linked to a more accommodative Federal Reserve outlook, which had been increasingly discounted over the prior Asia week,' Mr Geoff Howie, market strategist at SGX, told The Business Times. He added that the iEdge S-Reit Index posted its strongest daily gain since April as softer US employment data and downward revisions to prior months flipped rate expectations. This pushed the odds of a Federal Reserve cut on Sept 17 to 80 per cent from under 40 per cent before the release. Market sentiment, however, is turning sour. Swissquote Bank senior analyst Ipek Ozkardeskaya noted that the three-month average for US job gains dropped to 35,000, which is below the 50,000 level often viewed as a recession signal. She added that higher rate cut expectations due to recession fears are good news for US President Donald Trump, but a weak economy was not part of his promise. Top stories Swipe. Select. Stay informed. Singapore Govt forms 5 new committees to look at longer-term economic strategies; report due in mid-2026 Singapore Ong Beng Seng to be sentenced on Aug 15, prosecution does not object to fine due to his poor health Singapore All recruits at BMTC will be trained to fly drones and counter them: Chan Chun Sing Singapore Pritam Singh had hoped WP would 'tip one or two more constituencies' at GE2025 Singapore Eu Yan Sang warns of counterfeits of its health supplements being sold online Singapore Electric car-sharing firm BlueSG to wind down current operations on Aug 8 Singapore Woman, 26, hit by car after dashing across street near Orchard Road Singapore Car passenger dies after accident involving bus in Yishun 'Cutting rates at the wrong moment won't magically rescue markets, and scapegoating the Bureau of Labour Statistics (BLS) for the outcome of his administration's chaotic policies risks damaging the credibility of US economic data.' she said. Mr Trump fired BLS commissioner Erika McEntarfer on Aug 1, accusing her of manipulating the weaker-than-expected employment growth numbers. Regional bourses ended mixed on Aug 4. South Korea's Kospi and Hong Kong's Hang Seng Index each rose 0.9 per cent, while Japan's Nikkei 225 fell 1.3 per cent and Malaysia's KLCI slipped 0.4 per cent. Back home, on the STI, Mapletree Pan Asia Commercial Trust was the top gainer. It rose 3.1 per cent or $0.04 to $1.32. Thai Beverage came in at the bottom of the table, shedding 1.1 per cent or $0.005 to $0.46.
Business Times
01-08-2025
- Business
- Business Times
Singapore, Malaysia markets rise; Taiwan drops 1.6% as Trump sets new tariff rates
[SINGAPORE] Singapore stocks opened slightly up on Friday (Aug 1), while Malaysia markets jumped and Taiwan slumped, following the announcement of US President Donald Trump's global tariff rates. Malaysia, Thailand and Cambodia were hit by 19 per cent levies , while Taiwan will face a 20 per cent rate on its US exports. The global baseline rate will be kept to 10 per cent. This comes ahead of the Aug 1 deadline. Singapore is likely to remain at the 10 per cent baseline rate, which Prime Minister Lawrence Wong said earlier was 'not ideal' but something the country can 'live with'. The Straits Times Index had a modest gain of 0.2 per cent shortly after the market opened, up 8.52 points to reach 4,182.29. This comes after a 2.3 per cent drop across six days from its record high of 4,273.05 on Jul 24. The trio of local banks were all marginally up at the open. DBS rose 0.1 per cent or S$0.06 to S$47.97. UOB was up 0.4 per cent or S$0.16 at S$36.35, and OCBC was up 0.5 per cent or S$0.08 at S$16.95. Pre-market open, OCBC announced that second-quarter profit fell 7 per cent to S$1.82 billion and declared a quarterly dividend of S$0.41 a share. Among Asia markets, South Korea's Kospi slumped about 3.9 per cent to 3,127.79 points, but was down 3.1 per cent at 3,144.56 as at 11.30 am in Singapore. The losses were driven largely by government proposals on Thursday to hike corporate taxes. 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 Trump said on Wednesday that the US would charge a 15 per cent tariff on imports from South Korea, down from 25 per cent if it had not struck a deal, marking a slight win for the East Asian economy. Taiwan's Taiex dived 1.6 per cent before paring losses to 0.3 per cent down at 23,467 points, as at 10.54 am Singapore time. On the other hand, Malaysia's Kuala Lumpur Composite Index was up 1.1 per cent at 1,529.97 points as at 11.17 am, and Thailand's SET inched up 0.02 per cent at 1,242.63 points. The Singapore dollar continued its week-long drop at 1.2978 per US dollar as at 11.30 am, up from 1.2768 on Jul 23. Spot gold traded 0.1 per cent higher around US$3,294. Lorraine Tan, Morningstar director of equity research in Asia, said that overall, the tariffs are relatively expected for Asia. She added that the levies for South Korea, Japan and South-east Asian countries were not outlandish. 'We think the markets should shrug this news off.' However, Morningstar's Asia equity market strategist Kai Wang cautioned that a 90-day extension to the tariff truce with China could be viewed negatively by investors. Hong Kong's Hang Seng Index was down about 2.7 per cent for the week, its first drop since Jul 4, even as it rose 0.1 per cent as at 11.30 am on Friday. 'The extension is signalling that there may be some snags in talks which have the potential to fall apart entirely,' he said.
Business Times
01-08-2025
- Business
- Business Times
Singapore, Malaysia markets rise; South Korea stocks slump 3% as Trump sets new tariff rates
[SINGAPORE] Singapore stocks opened slightly up on Friday (Aug 1), while Malaysia markets jumped and Taiwan slumped, following the announcement of US President Donald Trump's global tariff rates. Malaysia, Thailand and Cambodia were hit by 19 per cent levies , while Taiwan will face a 20 per cent rate on its US exports. The global baseline rate will be kept to 10 per cent. This comes ahead of the Aug 1 deadline. Singapore is likely to remain at the 10 per cent baseline rate, which Prime Minister Lawrence Wong said earlier was 'not ideal' but something the country can 'live with'. The Straits Times Index (STI) had a modest gain of 0.2 per cent shortly after the market opened, up 8.52 points to reach 4182.29. This comes after a 2.3 per cent drop across six days from its record high of 4273.05 last Thursday (Jul 24). The trio of local banks were all marginally up at the open. DBS was up 0.13 per cent or S$0.06 to S$47.97. UOB was up 0.44 per cent or S$0.16 at S$36.35, and OCBC was up 0.47 per cent or S$0.08 at S$16.95. Pre-market open, OCBC announced second-quarter profit fell 7 per cent to S$1.82 billion and declared a quarterly dividend of S$0.41 a share. Among Asia markets, Korea's KOSPI Index slumped as much as 3.89 per cent to 3127.79 points but was last down 2.93 per cent at 3,150.32. Trump had said on Wednesday that the US would charge a 15 per cent tariff on imports from South Korea. Taiwan's Taiex index also dived 1.6 per cent initially but last dropped 0.88 per cent at 23,335.55 points, while Malaysia's Kuala Lumpur Composite Index was up 0.66 per cent at 1,523.27 points. The Singapore dollar continued its week-long rise at 1.2975 per US dollar, up from 1.2768 on Wednesday (Jul 23). Spot gold traded 0.05 per cent higher around US$3,292 as at 9.16 am.
