SG Morning Highlights | CGS-CIMB Expects Yangzijiang Margins to Improve as Ship Prices Rise, Steel Falls
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Friday; STI down 0.58%
●CGS-CIMB expects Yangzijiang margins to improve as ship prices rise, steel falls
●Stocks to watch: Creative Technology
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened lower on Friday. The $FTSE Singapore Straits Time Index(.STI.SG$ lost 0.58 per cent to 3,184.08 as at 9.04 am.
Advancers / Decliners is 22 to 84, with 76.01 million securities worth S$61.77 million changing hands.
Breaking News
CGS-CIMB expects Yangzijiang margins to improve as ship prices rise, steel falls
Rising ship prices and a downtrend in steel prices could help Yangzijiang Shipbuilding's margins improve in FY2024-25, CGS-CIMB said on Wednesday (Sep 20). The research team, citing Bloomberg, said global newbuild containership prices have increased by around 30 per cent since May 2021, while steel prices have retreated by about 40 per cent. It raised its target price on Yangzijiang to S$1.96 from S$1.87 and maintained its “add” call on the counter.
Stocks to Watch
$Creative(C76.SG$ : The mainboard-listed technology group on Thursday announced a tie-up with Chinese electronics company Skyworth. “Creative is delighted to partner with Skyworth to introduce Super X-Fi Spatial Holographic Audio to both the Chinese and global markets through their latest TVs. With the seamless integration of Super X-Fi Audio's generational improvements, customers get to enjoy Super X-Fi easily on all content,” said Lee Teck Chee, VP of Technology at Creative.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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