SG Morning Highlights: Shares fall 0.7% on Ukraine jitters, stimulus pullback fears
Good morning moomooers! Here are things you need to know about today's Singapore:
Singapore shares fall 0.7% on Ukraine jitters, stimulus pullback fears.
Singapore new home sales sink 27% in February.
Stocks to watch: Keppel Reit, Singtel, SPH, Q&M Dental.
-Moomoo News SG
Singapore shares fall 0.7% on Ukraine jitters, stimulus pullback fears.
Singapore new home sales sink 27% in February.
Stocks to watch: Keppel Reit, Singtel, SPH, Q&M Dental.
-Moomoo News SG
Market Trend
Singapore shares opened 0.68% lower on Tuesday. Advancers / Decliners is 59 to 122, with 168.11 million securities worth S$168.54 million changing hands.
Breaking News
NEW home sales sank in February in the absence of major new launches. Chinese New Year festivities and the declining inventory of unsold new homes also dampened sales during the month, analysts said.
"Some developers were holding back their new project launches until the current wave of Omicron Covid-19 infections has subsided," said Nicholas Mak, head of research and consultancy at ERA Singapore.
PropNex Realty head of research and content Wong Siew Ying added that as at the end of Q4 2021, the unsold inventory in the rest of central region (RCR) and outside of central region (OCR) were both at record lows of 4,306 and 3,972 units respectively.
Stocks to watch
$Keppel Reit(K71U.SG$: Its manager said it has received, from RBC Investor Services Trust Singapore, a letter of intention to retire as trustee of the real estate investment trust on Tuesday. RBC is intending to cease provision of trustee services for all authorised collective investment schemes in Singapore. Units of Keppel Reit closed at S$1.16 on Monday, down S$0.02 or 1.7 per cent.
$Singtel(Z74.SG$: Its technology services arm NCS is acquiring Australian IT services company The Dialog Group for A$325 million (S$328 million). In its bourse filing of the acquisition on Monday, Singtel noted that Dialog's net asset value as at Jun 30, 2021 was A$43 million. Singtel shares closed flat at S$2.51 on Monday, after the announcement was made.
$Suburban Propane(SPH.US$: The company is "unable to comment" on whether it will declare a special dividend in relation to the divestment of sgCarMart to Toyota. This was in response to shareholder queries in a Monday bourse filing ahead of a virtual Investors' Day on Tuesday relating to the proposed acquisition of SPH by consortium Cuscaden Peak. Shares of SPH closed unchanged at S$2.34 on Monday, before the announcement.
$Q&M Dental(QC7.SG$: The dental service provider's chief executive officer Dr Ng Chin Siau entered into a conditional sale and purchase agreement on Monday to take a 29 per cent stake in restaurant operator No Signboard Holdings for a total consideration of S$1. As a condition, Dr Ng will extend an interest-free unsecured loan of S$2.6 million to the company. Q&M closed S$0.025 or 4.6 per cent lower at S$0.52 on Monday, before the announcement, while shares of Catalist-listed No Signboard are suspended.
$Q&M Dental(QC7.SG$: The dental service provider's chief executive officer Dr Ng Chin Siau entered into a conditional sale and purchase agreement on Monday to take a 29 per cent stake in restaurant operator No Signboard Holdings for a total consideration of S$1. As a condition, Dr Ng will extend an interest-free unsecured loan of S$2.6 million to the company. Q&M closed S$0.025 or 4.6 per cent lower at S$0.52 on Monday, before the announcement, while shares of Catalist-listed No Signboard are suspended.
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