SG Morning Highlights: Manufacturing growth to slow down after boosted Q1 results
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Thursday; STI down 0.04%
●Manufacturing growth to slow down after boosted Q1 results
●Stocks to watch: Great Eastern, Far East Hospitality Trust
-moomoo News SG
Market Trend
●Singapore shares opened lower on Thursday; STI down 0.04%
●Manufacturing growth to slow down after boosted Q1 results
●Stocks to watch: Great Eastern, Far East Hospitality Trust
-moomoo News SG
Market Trend
Singapore shares opened lower on Thursday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.04 per cent to 3,319.46 as at 9.01am.
Advancers / Decliners is 52 to 39, with 134.29 million securities worth S$75.36 million changing hands.
Breaking News
Manufacturing growth to slow down after boosted Q1 results
The manufacturing sector will likely see a slower upturn in the remaining quarters of the year after posting an above-estimate growth of 7.1% in Q1, according to analysts.
Manufacturing growth to slow down after boosted Q1 results
The manufacturing sector will likely see a slower upturn in the remaining quarters of the year after posting an above-estimate growth of 7.1% in Q1, according to analysts.
In a report, Maybank said manufacturing growth will ease to a low single-digit pace because chip production is operating near full capacity and on high base effects.
Both Maybank and OCBC Treasury Research also cited China's lockdown as a factor that will likely dampen global manufacturing and trade with the latter saying its effects "may spill over into the regional manufacturing supply chains from April onwards."
Stocks to Watch
$Great Eastern(G07.SG$ : Insurance company Great Eastern Holdings said its profit attributable to shareholders fell to S$220 million for its first quarter ended Mar 31, 2022, 50 per cent lower than the S$437.6 million in the same period a year ago.
$Great Eastern(G07.SG$ : Insurance company Great Eastern Holdings said its profit attributable to shareholders fell to S$220 million for its first quarter ended Mar 31, 2022, 50 per cent lower than the S$437.6 million in the same period a year ago.
This was due to a lower valuation of investments arising from less favourable financial market conditions in the quarter, resulting in lower mark-to-market gains, the insurance arm of OCBC said on Thursday (Apr 28).
$FortressMinerals(OAJ.SG$ : Iron ore miner Fortress Minerals saw its earnings tumble 82.3 per cent to US$1.1 million for the fourth quarter ended February, from US$6.1 million in the corresponding period a year ago.
This brought full year earnings down 21.2 per cent to US$14.1 million, down from US$18.3 million in the year-ago period.
Earnings per share (EPS) was down 82.8 per cent to 0.21 US cents for Q4, bringing EPS for FY2022 to 2.88 cents – some 21.1 per cent lower than a year ago.
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