Good morning, everyone! Here is the market overview of Singapore this morning:
Singapore stocks opened lower on Tuesday; the Straits Times Index fell by 0.05%.
Singapore's M&A transaction volume dropped by nearly a quarter.
Most Singapore companies have not yet reported their scope 3 emissions.
Stocks worth watching: Singtel, Thomson Medical.
Latest share repurchase transactions.
Market performance.
The Singapore stock market opened lower on Tuesday. As of 10:00 am.The weather is good today The weather is good today.Fell by 0.05% to 3394.330 points, with 68 stocks rising and 75 falling.
Market news.
Singapore's M&A transaction volume dropped by nearly a quarter.
Singapore's M&A activity decreased by 23.7%, echoing the broader weakness in the entire Asia Pacific region, which experienced an overall decline of 9.9%. A report by GlobalData pointed out that this is part of a broader trend of decreased transactions. M&A transaction volumes in China, Australia, South Korea, Malaysia, Hong Kong, and Indonesia saw significant declines year-on-year, while India, Japan, and Thailand experienced increases in M&A transaction volumes. In the first seven months of 2024, the single-digit decline in the Asia Pacific region sharply contrasted with the significant declines in North America, Europe, and other regions. Despite the overall slump, Aurojyoti Bose of GlobalData noted that some Asia Pacific markets showed resilience with an increase in transaction volumes.
Most Singaporean companies have not yet reported Scope 3 emissions.
Over half of the companies in Singapore have not reported their Scope 3 greenhouse gas emissions, including indirect emissions from activities such as the supply chain, transportation, and product use. According to a report titled 'Unlocking Scope 3 opportunities' by KPMG, which cited data from the Pacific Basin Economic Council, 57% of Singaporean companies have not included Scope 3 data in their environmental, social, and governance (ESG) disclosures. However, this situation may change with the forthcoming mandatory reporting requirements from stock exchanges in Asia such as Shanghai, Shenzhen, Singapore, and Japan.
Singapore ranks fifth in the Asia Pacific region in terms of corporate emission disclosure, just behind Japan, which leads the region with 88% of companies disclosing emissions. KPMG emphasized the importance of incorporating these regulations into long-term business strategies for preparedness. To support companies in Scope 3 reporting, KPMG recommends collaborating with leadership, measuring emissions, simulating supply chain risks, identifying low-carbon opportunities, working with suppliers, and exploring research and innovation partnerships.
Focus stocks
$Singtel (Z74.SG)$Singtel's Digital InfraCo division Nxera has signed a memorandum of understanding (MOU) with Hitachi to explore the development of datacenters in Japan and across the Asia-Pacific region. The collaboration aims to establish more energy-efficient methods for datacenters, helping businesses achieve their sustainability goals. This partnership builds on an alliance prior to June 2024, with the aim of piloting and integrating Singtel's Paragon platform with Hitachi's AI applications.
Share buyback
Source: The Business Times, SGinvestors.io, Business Review
Editor/Feynman