Good morning, everyone! Here is the market overview of Singapore this morning:

Market performance.

Singapore's stock market opened higher on Friday. As of 10:00 AM, The weather is good today The weather is good today. it rose 1.17% to 3354.36 points, with 112 shares rising and 46 falling.

Market news.

Singapore developers' sales surged by 236% in July, with strong performance in the mass market.

According to data from the Urban Redevelopment Authority (URA) of Singapore, private residential sales in Singapore rose by 236.4% month-on-month in July, with a total of 571 units sold. PropNex emphasized that this is the second highest monthly sales volume since 2024, which is attributed to the launch of new projects in the mass market sector. Outside the Central Region (OCR) led the way with 444 new homes sold, a significant increase from 132 in June. Sales in other central regions (RCR) also increased, reaching 106 units, a 49% increase from the previous month. However, sales in the Core Central Region (CCR) declined, with only 21 units sold, the lowest level since December 2018. Sales of Executive Condominiums (EC) fell by 26%, with 37 new homes sold, as inventory of unsold ECs remained scarce.

Focus stocks

$CapitaLandInvest (9CI.SG)$$Cordlife Group (P8A.SG)$: Cordlife Group reported a loss of SGD 12.4 million in the first half of the year, in sharp contrast to a profit of SGD 2.2 million in the same period last year, with revenue plummeting 67.5% to SGD 9.2 million. The decline is mainly due to the suspension of its Singapore business due to storage errors, with the Ministry of Health issuing a six-month suspension order in November 2023, followed by a three-month suspension. To make matters worse, the Cord Blood and Tissue Banking Accreditation (AABB) has revoked Cordlife's cord blood activity certification. The company is taking corrective measures, including setting up a supervisory committee and a technical advisory committee, and reallocating funds for strategic investments to address current challenges. Cordlife's stock price fell before the announcement, indicating investor concern about the company's recent operational issues and loss of certification.

$Cordlife (P8A.SG)$

$UOB Kay Hian (U10.SG)$UOB Kay Hian's report stated that due to the strong US stock market and increased trading volume, profit increased 64.3% to SGD 0.1139 billion and revenue increased 10.2% to SGD 0.3171 billion in the first half of the year. Despite a decrease in interest income, commission and trading income grew 18.8% to SGD 0.166 billion, and operational costs also decreased.

Share buyback

Source: The Business Times, SGinvestors.io, Business Review

Editor/Feynman