Market Snapshot

Singapore stocks flatten this week, with the STI down 0.01%. In terms of star stocks, Delta TH SDR 1to1 rose 9.4%, Frasers HTrust rose 6.4%, Thomson Medical rose 4.3%, ocbc bank rose 3.2%, Kasikorn BK TH SDR1to1 rose 2.3%. While Yanlord Land fell 11.3%, and Tencent HK SDR 10to1 fell 10.8%.

Market News

OCBC Buys Back 273,000 Shares for SG$4.6 Million

Oversea-Chinese Banking Corporation (OCBC) repurchased 273,000 shares in the open market on Monday at an average price of SG$16.76 per share, totaling SG$4.6 million. Under its current mandate, the bank is authorized to buy back up to 225.0 million shares and has so far repurchased 11.3 million shares.

SingPost issued government advisory to uphold governance after whistle-blowing report

The government has issued Singapore Post an advisory to uphold proper corporate governance and processes after the whistle-blowing incident alleging falsification of international e-commerce shipment data.

Senior Minister of State for Digital Development and Information Tan Kiat How said in a parliamentary sitting on Tuesday (Jan 7) that the government was concerned about the recent developments related to corporate governance and firings of senior executives in the public postal licensee SingPost.

US Adds Tencent, CATL to List of Chinese Firms Allegedly Aiding Beijing's Military

The U.S. Defense Department said on Monday it has added Chinese tech giants including gaming and social media leader Tencent Holdings and battery maker CATL to a list of firms it says work with China's military.

The list also included chip maker Changxin Memory Technologies, Quectel Wireless and drone maker Autel Robotics, according to a document published on Monday.

The annually updated list of Chinese military companies, formally mandated under U.S. law as the "Section 1260H list," designated 134 companies, according to a notice posted to the Federal Register.