SG Morning Highlights | Headwinds Could Continue to Rattle Singapore Market in H2 Despite Attractive Valuations
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Monday; STI down 0.62%
●Headwinds could continue to rattle Singapore market in H2 despite attractive valuations
●Stocks to watch: Samudera, Top Glove, Amara
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened down on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ lost 0.62 per cent to 3,239.89 as at 9.23 am.
Advancers / Decliners is 71 to 123, with 154.47 million securities worth S$151.78 million changing hands.
Breaking News
Valuations in the Singapore market are attractive, analysts say. But macroeconomic concerns remain in focus given high interest rates and an expected slowdown in the external environment.
Market watchers believe the local market could see some turbulence in the coming months, with uneven performance across sectors.
Singapore stocks turned in a mixed performance in the first half of 2023, despite a strong performance in equity markets in the US and parts of the Asia region.
Stocks to Watch
$Amara(A34.SG$: Two major shareholders cum executive directors of property developer and hotel group Amara Holdings are currently engaged in confidential discussions with a third party in relation to a possible transaction involving the company.
Amara Holdings, in its regulatory filing on Sunday (Jun 18), referred to "unusual price movements and the higher than usual volume of trading" in its shares last Thursday and Friday.
Its share price was S$0.355 at Wednesday's market close and had surged by 23.9 per cent to S$0.440 when it requested a trading halt around 12.30 pm on Friday.
$SamuderaShipping(S56.SG$: The vessels are expected to be delivered in the second half of the year.
Samudera Shipping Line has acquired two container vessels for a total sum of US$59.9 million ($80.2 million).
The vessels were acquired after agreements were entered into on June 7. They each have a capacity of 1,500 TEUs (a twenty-foot equivalent unit) and are expected to be delivered in the second half of the year.
The acquisition of the vessels is in the ordinary course of the company's business and is not expected to have any material impact on the net tangible assets (NTA) and earnings per share (EPS) for the FY2023 ended Dec 31.
$Top Glove(BVA.SG$: Top Glove Corp Bhd, the world's largest glove manufacturer, saw its net loss narrow to RM130.59 million for the third financial quarter ended May 31, 2023 (3QFY2023), from RM164.67 million for 2QFY2023, driven by increased average selling prices (ASPs) and ongoing cost optimisation measures.
Latest Share Buy Back Transactions
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
102905329 : Shamudara, go for it!