SG Morning Highlights | Singapore PMI Inches Up in June but Remains in Contraction for 3rd Straight Month
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Tuesday; STI down 0.1%
●Singapore PMI inches up in June but remains in contraction for 3rd straight month
●Stocks to watch: ComfortDelGro, Alpina
-moomoo News SG
Market Trend
Singapore shares opened down on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG$ lost 0.1 per cent to 3,203.89 as at 9.27 am.
Advancers / Decliners is 88 to 93, with 108.43 million securities worth S$90.78 million changing hands.
Breaking News
Singapore's overall factory activity improved slightly in June, but remained in contraction territory for the third straight month, as weak global demand continues to hit manufacturing sentiment in the region.
The Purchasing Managers' Index (PMI) inched up 0.2 point to 49.7 last month, contracting at a slower rate than in May, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Monday (Jul 3).
A reading below 50 indicates that the manufacturing sector is declining, while a reading above 50 means growth.
Housing and Development Board (HDB) resale flat volumes declined 4.6 per cent year on year to 6,409 flats in the second quarter of 2023.
This was the lowest in the last three years since Q3 2020, according to flash estimates released on Monday (Jul 3).
Resale prices rose 1.4 per cent from the previous quarter. Although this was higher than the 1 per cent growth recorded in Q1, the Q2 price increase was still lower than the 2022 average quarterly growth of 2.5 per cent.
Stocks to Watch
$Alpina Holdings(ZXY.SG$: Integrated solutions provider Alpina Holdings secured S$216.9 million worth of contracts in the six months ended Jun 30, of which the majority are public sector projects, the Catalist-listed company said in a bourse filing on Monday (Jul 3).
Among these are two contracts worth S$117.2 million to undertake the design, installation, construction, testing and commission of solar photovoltaic (PV) systems for engineering design consultancy Novasix. These are expected to be completed by December next year.
There are also seven term contracts worth about S$93.4 million for the provision of mechanical and electrical systems maintenance and other works for a government ministry, a construction company, a town council and two statutory boards.
$ComfortDelGro(C52.SG$: Transport operator ComfortDelGro Corporation on Tuesday (Jul 4) said its indirect subsidiary bagged an outer metropolitan bus contract worth A$200 million (S$180.3 million) in New South Wales (NSW), Australia.
The eight-year contract – which will start in July 2024 – is for Region 7. This covers the NSW Central Coast, including The Entrance, Gosford, Wyong and the surrounding areas, the group said.
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