SG Morning Highlights | Decline in Singapore Key Exports Continues to Ease in October, with Narrowing 3.4% Fall
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Friday; STI down 0.43%
●Decline in Singapore key exports continues to ease in October, with narrowing 3.4% fall
●Singapore expands e-money trials to pave way for digital Singdollar
●Stocks to watch: Singtel, ValueMax
●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 0.43 per cent to 3,119.46 as at 9.05 am.
Advancers / Decliners is 54 to 77, with 40.47 million securities worth S$53.30 million changing hands.
Breaking News
Decline in Singapore key exports continues to ease in October, with narrowing 3.4% fall
Singapore's non-oil domestic exports (NODX) shrank 3.4 per cent year on year in October, continuing to ease from steeper falls in the preceding months, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Nov 17). The October figure marked an easing from September's 13.2 per cent fall, and was also better than the 6 per cent contraction that private-sector economists polled by Bloomberg were expecting. Both electronics and non-electronics exports continued to fall on a year-on-year basis, but less sharply. On a month-on-month seasonally adjusted basis, NODX grew 3.4 per cent in October, extending the previous month's 11.1 per cent growth, as both electronics and non-electronics exports rose.
Singapore expands e-money trials to pave way for digital Singdollar
The Monetary Authority of Singapore (MAS) is pushing ahead with plans to explore the potential of issuing and using digital money here. The central bank on Thursday (Nov 16) published a blueprint outlining the infrastructure required for a digital Singapore dollar, and announced that it will be expanding trials on digital money. MAS will also issue a “live” central bank digital currency (CBDC) for wholesale settlement, with plans to start developing CBDCs for wholesale interbank settlement next year.
Stocks to Watch
$Singtel(Z74.SG$: Singtel said the upgrading of Singtel Internet Exchange, STiX, was not the root cause of the Optus network outage on Nov 8. STiX is Singtel's Internet peering exchange, acting as an infrastructure “shortcut” that helps move vast amounts of data across the world.
$ValueMax(T6I.SG$: Well Chip, a company set up to own shares in ValueMax Group's Malaysian associated companies, has applied for a listing on the main market of Bursa Malaysia. On Thursday (Nov 16), Well Chip applied to the Securities Commission Malaysia (SC) to register its listing prospectus, ValueMax disclosed in a bourse filing. Well Chip also applied to the Ministry of Investment, Trade and Industry to allocate 75 million of its new ordinary shares to selected approved investors. It made a separate application to the Equity Compliance Unit of the SC for the listing.
Share Buy Back Transactions
Source: Business Times, SG investors
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