Singapore STI down 1.44 points, tracing slips in Europe, US markets

SINGAPORE[SGX] share prices opened lower on Wednesday with the Straits Times Index (STI) down 1.44 points to 3,420.67 at 9.06am, taking cues from slips in European and US equity markets.

Top gainers in early trading include DBS and ComfortDelgro. DBS is set to gain the most among its peers from higher interest rates, given its strong deposit base and that most of its home loans are pegged to a floating rate. ComfortDelgro is also expected to see an earnings boost from bus reforms next year, said a Deutsche Bank report this week.

Some 33.5 million shares worth S$59.4 million changed hands, with losers outnumbering gainers 81 to 72.

Singapore Banks, Jardine push STI up in mixed-to-weak session

[SGX] POSSIBLY in response to Wall Street's Monday jump that took the Dow Jones Industrial Average and S&P 500 to all-time highs, the Straits Times Index rose 18.22 points or 0.5 per cent to 3,422.11 on Tuesday to go with Monday's 1.03 points rise. This brings its two-day gain to 19 points after falling 38 points on Thursday and Friday last week.

However, despite the index's gain, the broad market was weak for most of the day, with falls outnumbering rises. At 5pm, the advance-decline ratio was 195-238 and turnover at 1.3 billion units worth S$1.2 billion was in line with recent averages.

Jardine and bank stock were the primary index drivers, although Noble Group's S$0.065 or 7 per cent rebound to S$1.01 contributed about four points. The stock had been under intense pressure over the past fortnight following a short selling attack by a firm known only as Iceberg Research.

Singapore leads Asia in real estate investment in 2014

Singapore Stock Exchange[SGX]- was the top Asian investor in real estate in 2014 with US$11.9 billion worth of properties acquired across the world, said CBRE Research, adding that this was an increase from 2013.

Asian outbound real estate investment hit a record year of US$40 billion, an increase of 23 per cent year-on-year, it said on Monday.

Ada Choi, senior director for CBRE Research Asia, noted that outbound investment for 2014 surpassed 2013, the second year in a row that the region has reached a record high.

Singapore maintained its position as the number one source of outbound capital, closely followed by China and Hong Kong - with all three markets showing an increase in cross-border investment, she said.

Singapore STI opens higher on Monday

SINGAPORE[SGX] shares opened higher on Monday with the Straits Times Index (STI) up 4.59 points or 0.13 per cent to 3,407.45 at 9.01am.

Some 100 million shares exchanged hands.

Gainers beat losers 97 to 74.

The market was buoyed by a weekend rate cut from China and an infrastructure-centred budget from India.