SG Morning Highlights | Frasers Property's Share Price Surges on Rumours of a Deal
Good morning mooers! Here are things you need to know about today's Singapore markets:
●Singapore shares opened higher on Monday; STI up 0.31%
●Singapore Exchange reports 6% YoY growth in derivatives traded volume in December
●Stocks to watch: Frasers Property
●Latest share buy back transactions
-moomoo News SG
Market Snapshot
Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.31 percent to 3,201.714 as at 9.03 am.
Advancers / Decliners is 83 to 46, with 90.48 million securities worth S$56.59 million changing hands.
Breaking News
Singapore Exchange reports 6% YoY growth in derivatives traded volume in December
Singapore Exchange (SGX) reported a 6% YoY growth in its derivatives traded volume in December, reaching 21.1 million contracts, with a daily average volume up 13% YoY at over 1 million contracts. The increased commodities and forex derivatives trading drove the volume gains. SGX commodity derivatives traded volume rose 45% YoY in December to 4.2 million contracts, while SGX FX futures traded volume also increased 44% YoY to 4 million contracts. In addition, SGX Fixed Income saw $14.7 billion issued from 86 new bond listings, and the Singapore equities market outperformed Southeast Asian peers in December.
Stocks to Watch
$FRASERS PROPERTY LIMITED(TQ5.SG$: Frasers Property's minority shareholders have suggested various ways to increase the company's dividend rate and boost its share price, including asset monetisation and separating its property management business. With waning profitability and lowered dividends in recent years, the rumoured deal has brought excitement to investors and contributed to the company's surging share price.
$AEM SGD(AWX.SG$: AEM Holdings has discovered an inventory shortfall of between 5% and 7% lower than previously reported in November 2023, which will negatively affect its profitability for the year ended December 2023. The discrepancy was discovered during the company's year-end internal stock-taking exercise, which revealed human errors in transactions with the group's ERP system during the migration of production to the group's Penang facility from Singapore. The company has initiated a review of its inventory and stock monitoring and tracking processes and systems.
Share Buy Back Transactions
Source: Business Times, SG investors
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