Singapore shares open lower again on global market turmoil

SINGAPORE'S benchmark Straits Times Index opened on Tuesday morning at 2,754.35 points, down 1.35 per cent or 37.57 points, at 9.03am.

The decline echoed Monday sell-offs in the US and Europe, along with falling commodities prices. Some 65.8 million shares worth S$78.2 million changed hands. Gainers outnumbered losers 20 to 141. Top stocks traded by value were DBS, ST Engineering, Singtel, UOB and OCBC. All opened lower.

Singapore News Highlights for Monday

• Singapore benchmark Straits Times Index (STI) opened lower at 2,828.07 points, down 4.57 points or 0.16 per cent, ahead of data on China industrial profits.
• Asian shares held back by insipid Wall St while dollar consolidates.
• Frasers Hospitality, is in talks with funds to buy assets in Europe.
• Sunright has reported a increase in net profit to S$3.1 million for its full year ended July 31, 2015.
• CMC Infocomm Ltd won S$4 million worth of contracts from Singapore telcos.
• Vard Holdings has secured new contracts worth over US$100 million for the designing and construction of two offshore sub-sea construction vessels for Dubai-based Topaz Energy and Marine.
• Oil prices fell down on slowing global economic growth outlook.
• China's August industrial profits have fallen 8.8% year on year.
• Greek's finance minister is confident of returning to growth.

Singapore shares open 0.7% down

SINGAPORE shares opened 0.7 per cent lower as at 9.03 am on Friday, with the Straits Times Index down 19.5 points to 2,826.24 after US Federal Reserve chairwoman Janet Yellen said in overnight remarks that she was personally supportive of a rate hike this year.

The banks weighed on the index, with DBS Group Holdings down by 1.5 per cent or 25 Singapore cents to change hands at S$16.65 as at 9.03 am. OCBC Bank slipped 0.3 per cent or three Singapore cents to trade at S$8.88, while United Overseas Bank eased by 0.7 per cent or 14 Singapore cents to cross at S$18.83.

About 85.1 million shares worth S$98 million in total changed hands.

Medtecs International was among the most active right out of the gate, jumping 15.1 per cent or 0.8 Singapore cent to trade at 6.1 Singapore cents with 5.9 million shares changing hands.

Losers outnumbered gainers 82 to 70, or about seven down for every six up.

Bounce in Dow futures helps trim ST Index's loss

THE Straits Times Index (STI) on Wednesday was hit by a combination of factors - a 2.2 per cent loss in the Shanghai Composite after news that China's purchasing managers' index (PMI) has slumped to a six-year low, a 2.3 per cent fall in Hong Kong's Hang Seng Index and perhaps most relevantly.

Stocks to watch: Rowsley, YuuZoo, SGX, industrial Reits

Rowsley: Billionaire Peter Lim's real-estate vehicle Rowsley has decided against waiting for the Iskandar residential market to recover.

Citing "prevailing market sentiment" and a "strong pipeline" for the residential segment there, the firm announced on Tuesday that it now intends to turn its long-delayed mega Vantage Bay project in Johor into a cluster of healthcare-related facilities with an expected total development value of RM5 billion (S$1.6 billion).

This figure is slightly less than the previous RM5.5 billion estimate for Rowsley's original plan for the 9.23 ha Vantage Bay, which was to have been an integrated development comprising a 75-storey condominium, a mall, office blocks and a hotel.

YuuZoo Corporation: The e-commerce company is appointing James Sundram as chief executive officer, starting Oct 1.