SG Morning Highlights: Singapore exports grow by 7.7% in March as gold shipments lift trade

Moomoo News SG wrote a column · Apr 18, 2022 08:57

SG Morning Highlights: Singapore exports grow by 7.7% in March as gold shipments lift trade

Good morning mooers! Here are things you need to know about today's Singapore:

●Singapore shares opened lower on Monday; STI down 0.33%

●Singapore exports grow by 7.7% in March as gold shipments lift trade

●Stocks to watch: HRnetGroup; Tiong Seng

-moomoo News SG

Market Trend
Singapore shares opened lower on Monday. The $富時新加坡海峽指數(.STI.SG)$decreased 0.33 per cent to 3,324.88 as at 9.19am.

Advancers / Decliners is 86 to 105, with 249.63 million securities worth S$145.27 million changing hands.

Breaking News
Singapore exports grow by 7.7% in March as gold shipments lift trade

Key Singapore exports rose for the 16th straight month in March, helped by a surge in gold, according to data from trade agency Enterprise Singapore (ESG) on Monday (Apr 18).

Non-oil domestic exports (NODX) growth eased to 7.7 per cent year on year, from 9.4 per cent in the month before, but was still higher than the forecast of 1.6 per cent in a Bloomberg poll.

Shipments of products from Singapore's linchpin electronics industry were up by 11.5 per cent, nearly flat on February's 11.6 per cent expansion. Meanwhile, non-electronic NODX grew by 6.8 per cent in March, slowing from the 8.8 per cent in the month prior.

Stocks to Watch
$Tiong Seng - watch list (BFI.SG)$ : The recent property cooling measures have affected the sales of construction group Tiong Seng's 2 projects located in Balmoral and Orchard, due to the higher additional buyer's stamp duty rates for foreign buyers.

Even so, the mainboard-listed company is optimistic that the resumption of international travel, and location of the 2 properties - Sloane Residences and Cairnhill 16 - which are close to good schools and amenities may encourage more sales.

$HRnetGroup (CHZ.SG)$ : Recruitment company HRnetGroup said its lead independent non-executive director Sin Boon Ann would be retiring on Apr 28 to allow for a renewal of the board.

Sin, who was chairman of the group’s nominating committee, will also cease to be a member of its audit and remuneration committees after his retirement, the company said on Monday (Apr 18).

In a separate announcement, HRnetGroup also announced new leadership appointments as part of its leadership development and succession planning.Its executive director and chief legal officer Adeline Sim was promoted to be executive director and chief corporate officer, effective Apr 1. In her new role, Sim oversees the management of the technology, communications, and legal functions of the group.

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