Market Snapshot

Singapore stocks opened flat on Friday. Keppel DC Reit rose 1.35%; UOB Bank rose 0.8%; NIO fell 4.78%.

Stocks to Watch

UOB Kay Hian: The Singapore Exchange Regulation has on Thursday lifted the brokerage’s moratorium, which restricted it from managing new initial public offerings (IPO) and reverse takeovers (RTO) submissions. This allows UOB Kay Hian to resume its role as issue manager and full sponsor for IPOs and RTOs on the local bourse. The counter ended at S$1.59, up S$0.01 or 0.6 per cent, before the announcement.

Keppel DC Real Estate Investment Trust (Keppel DC Reit): Its third-quarter distribution per unit rose 0.4 per cent to S$0.02501, from S$0.02492 in the year-ago period. This comes amid increased rent from strong reversions, a partial settlement distribution received in the first-half of the year, as well as contributions from its Tokyo data centre, said its manager in a business update on Friday. The counter closed 0.9 per cent or S$0.02 lower at S$2.22 on Thursday.

Frasers Logistics & Commercial Trust (FLCT): The trust is set to acquire a six-storey ramp-up logistics facility in Tuas for S$140.3 million. The acquisition is slated for completion by the first quarter of FY2025, after which FLCT’s portfolio of logistics and industrial assets will increase from 70.9 per cent to 71.5 per cent of its entire portfolio. Units of FLCT closed flat at S$1.12 on Thursday, before the announcement.

SG Local News

Cut-off Yield on Latest Singapore 1-Year T-Bill Tumbles to 2.71%

Singapore’s latest one-year tranche of Treasury bills (T-bills) is offering a cut-off yield of 2.71 per cent, auction results released by the Monetary Authority of Singapore (MAS) indicated on Thursday (Oct 17).

This is down 0.67 percentage point from the 3.38 per cent offered in the auction for the previous one-year tranche in July.

Car Expo Sales Rev up on Bigger COE Supply, Demand for China EVs

Car dealers ran up better sales at The Car Expo held earlier this month than in the April edition of the twice-yearly event, with business boosted by new China entrants to the market and continued interest in electric vehicles (EVs) and sport utility vehicles (SUVs).

Though Certificate of Entitlement (COE) premiums were higher in October than in April, an expected fall in premiums – when the COE supply goes up from November – may also have spurred buyers, said dealers.