Singapore shares rose this week, with the STI up 1.44%.
In terms of individual stocks, Sheng Siong rose 10%, Singtel rose 9%, Singtel 10 rose 8%; while SiamCement TH SDR10to1, POP MART HK SDR 20to1 fell 8%.
Market News
Sheng Siong Rises 6.5% Monday on Improved Q3 Earnings
Shares of supermarket operator Sheng Siong rose on Monday (Nov 3) morning after the mainboard-listed group posted a nearly 12 per cent boost to third-quarter earnings compared with the year-ago period.
On Oct 30, Sheng Siong reported that its net profit had risen 11.9 per cent to S$43.7 million for its third quarter ended Sep 30, from S$39.1 million in Q3 2024.
This translated to an 11.9 per cent increase in earnings per share to S$0.0291 for the quarter, from S$0.026 in the year-ago period.
For the three months, its revenue grew 14.4 per cent to S$415.5 million, from S$363.2 million previously.
Singtel Offers US$1.2 Billion Stake in Bharti Airtel, Terms Show
A Singapore Telecommunications unit offered to sell shares in Indian mobile carrier Bharti Airtel in a deal that may fetch US$1.2 billion, terms of the offering show.
The unit, Pastel, offered to sell 51 million shares, or a stake of 0.8 per cent in Bharti, at a floor price of 2,030 rupees (S$29.88) each, according to terms of the deal seen by Bloomberg. The price represents a 3.1 per cent discount to the stock’s closing price in Mumbai on Thursday (Nov 6).
Pop Mart Shares Fall After Live-Streaming Incident About Pricing
Shares of Pop Mart International Group Ltd., the maker of the popular Labubu toy line, fell more than 5.5% Friday to their lowest level since May, after a livestream incident reignited scrutiny over its product pricing.
The Hong Kong-listed stock’s drop followed a viral clip in which a Pop Mart employee appeared to question the value of a blindbox item during a Thursday livestream, according to The Cover, a Chinese local media outlet. The product in question — a phone chain blindbox priced at 79 yuan ($11) — sparked backlash across social media.
The Week Ahead
SingPost, Singtel, SIA, Seatrium Ltd and SATS are set to release their earnings reports next week.