Singapore shares rose this week, with the STI up 1.2%.

In terms of individual stocks, Food Empire up 13%; Genting Sing up 6%; YZJ Fin Hldg down 51%; NIO Inc. USD OV down 12%.

Market News

Food Empire Soars on Strong Q3 Results, Driven by European Market Growth

Food Empire's stock soared this week, following the release of its impressive third-quarter financial results. The Singapore-based food and beverage company's strong performance, particularly in its European markets, has sparked investor enthusiasm.

YZJ Financial shares plunged on ex-entitlement to YZJ Maritime shares

Shares of Yangzijiang (YZJ) Financial fell 51 per cent this week as the counter goes ex-entitlement to an in-specie distribution of shares in YZJ Maritime.

YZJ Maritime is a spin-off of YZJ Financial and is scheduled to be listed on the Singapore Exchange mainboard this month.

NIO Stock Sees Pullback After a Solid Rally

Nio stock has pulled back about 12% this week. Despite the selloff, the stock is still up 40% so far this year.

The Chinese EV maker recently posted upbeat October delivery figures, with volumes jumping 92.6% year-over-year and 16.3% month-over-month, driven by solid demand for its Onvo and Firefly brands. Analysts, however, point out that Nio still faces margin pressure and intense competition in China’s crowded EV space. With those concerns in mind, Wall Street remains cautious, and the average price target suggests only limited upside from current levels.