SG Morning Highlights | Singapore's Core Inflation Rebounds to 3.3% in October; Prices to Remain Volatile in Coming Months
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened lower on Friday; STI down 0.22%
●Singapore's core inflation rebounds to 3.3% in October; prices to remain volatile in coming months
●Latest 6-month Singapore T-bill offers 3.8% cut-off yield
●Stocks to watch: CDL, LHN, Dasin Retail Trust
●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 0.22 per cent to 3,104.75 as at 9.56 am.
Advancers / Decliners is 155 to 172, with 126.37 million securities worth S$87.21 million changing hands.
Breaking News
Singapore's core inflation rebounds to 3.3% in October; prices to remain volatile in coming months
Singapore's headline inflation is likely to remain volatile in the coming months due to fluctuations in Certificate of Entitlement (COE) prices. That's according to private-sector economists, after both headline and core inflation picked up in October. Headline inflation for the month edged up to 4.7 per cent, higher than the 4.1 per cent recorded in September, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Thursday (Nov 23).
Latest 6-month Singapore T-bill offers 3.8% cut-off yield
Cut-off yield on the latest tranche of six-month Singapore Treasury bills (T-bills) has risen to 3.8 per cent, according to auction results released on Thursday (Nov 23). This is up from the cut-off yield of 3.75 per cent in the previous six-month tranche. Demand for the T-bills slid slightly, with applications totalling S$13 billion for the S$6 billion on offer. This represents a bid-to-cover ratio of 2.17. In comparison, the previous tranche received a total of S$13.2 billion in applications for the S$5.7 billion on offer, which represents a bid-to-cover ratio of 2.31.
Stocks to Watch
$CityDev(C09.SG$: City Developments Ltd (CDL) and its joint venture associates increased third-quarter sales to S$325 million, from S$281 million in the year-ago period. Over the same duration, they sold 183 units, up from 95 units a year earlier. In its operational update on Thursday (Nov 23), CDL said that the improvement came on the back of the launch of The Myst, a 408-unit residential development located along Upper Bukit Timah Road.
$LHN(41O.SG$: Real estate services provider LHN Group will transfer from the Catalist to the Singapore Exchange's mainboard on Dec 13. In a bourse filing on Thursday (Nov 23), the company said that trading in its shares will commence at 9 am that same day. It added that the company's appointment of Primepartners Corporate Finance as its continuing sponsor will cease on Dec 13.
$Dasin Retail Tr(CEDU.SG$: A group of 15 Dasin Retail Trust investors, who collectively hold over 10 per cent of the units in the business trust, have served a requisition notice to replace its current external trustee-manager, Dasin Retail Trust Management (DRTM), with a newly incorporated internal trustee-manager. The new entity will be wholly owned by all unitholders of Dasin Retail Trust. On behalf of this group, unitholder Tao Naiqun on Thursday (Nov 23) said that the minority investors were seeking to convene an extraordinary general meeting (EGM) to approve the internalisation “as a matter of urgency”.
Share Buy Back Transactions
Source: Business Times, SG investors
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