Good morning, everyone! Here is the market overview of Singapore this morning:
Singapore's stock market opened higher on Monday; The Straits Times Index rose 0.64%.
The minister said Singapore will increase the import of low-carbon electricity from Indonesia.
Singapore Changi Airport plans to expand, building a new large-scale terminal to surpass regional competitors.
Stocks to watch: SGX, Cordlife, Digital Core Reit
Latest share repurchase transactions.
Market performance.
Singapore's stock market opened higher on Monday. As of 10:15 am,The weather is good today The weather is good today.Rising 0.64% to 3476.510 points, the star stocks rose 80 and fell 73.
Market news.
The Minister said that Singapore will increase imports of low-carbon electricity from Indonesia.
During his visit to Indonesia on Thursday, Senior Minister of State for Singapore, Chee Hong Tat, said that Singapore will conditionally approve the import of 1.4 gigawatts (GW) of electricity from two solar energy projects in Indonesia, aiming to enhance its low-carbon power supply. This initiative is a supplement to the previous agreement to import 2 gigawatts of solar power from Indonesia. Indonesian Senior Minister Luhut Binsar Pandjaitan stated that this agreement will utilize solar photovoltaic and battery energy storage systems to ensure a stable supply of clean power to Singapore and assist Indonesia in achieving energy export transformation.
Changi Airport in Singapore is planning to expand by constructing a new large terminal that will surpass regional competitors.
Singapore will begin construction of a new large terminal at Changi Airport in the first half of next year. Prime Minister Heng Swee Keat announced this development plan with the aim of increasing the airport's annual passenger handling capacity by more than 50%. It is expected that the completion of Terminal 5 by the mid-2030s will increase the current annual passenger capacity from 90 million to 150 million. This expansion will enable the airport hub to connect to over 200 destinations, significantly increasing from the current nearly 150 destinations.
Focus stocks
$SGX (S68.SG)$ According to a report, the securities market in August saw a significant increase in trading volume, with an annual growth rate of 22% to 28.8 billion Singapore dollars. At the same time, the daily value of securities rose by 28% to 1.4 billion Singapore dollars. This growth can be attributed to retail investors, whose net purchases reached a record-breaking 0.685 billion Singapore dollars, mainly focused on index stocks and small-cap stocks. However, SGX's stock price fell slightly by 0.7%, or 0.08 Singapore dollars, on Friday, closing at 10.87 Singapore dollars.
$Cordlife (P8A.SG)$ On Friday, it was announced that Cordlife has received and accepted a notice from the Ministry of Health regarding the adjustment of its cord blood banking service license. This is one of the efforts to resume services. From September 15th, Cordlife will collect, test, process, and store no more than 30 units of cord blood per month from infant donors until January 13, 2025, but prior approval from the Director-General of Health is required. The company's stock price rose by 3.7% or 0.005 Singapore dollars, closing at 0.14 Singapore dollars before the announcement was made.
$DigiCore Reit USD (DCRU.SG)$ On Monday, it was announced that DigiCore Reit plans to acquire an additional 0.2% to 40% stake in the Frankfurt data center from the current German joint venture. After the acquisition, the ownership of Digital Core Reit is expected to be between 50.1% and 89.9%. The unit price of this real estate investment trust fund remained unchanged at 0.59 USD on Friday.
$Don Agro (GRQ.SG)$ On Monday morning, trading was suspended pending an upcoming announcement. The stock of this Russian-based agricultural company rose by 7.7% or 0.015 Singapore dollars on Friday, closing at 0.21 Singapore dollars.
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