Market Snapshot
Singapore stocks opened higher on Friday. STI rose 0.2%; OCBC rose 0.6%; DBS rose 0.3%; SGX fell 1.9%; Sembcorp fell 0.5%.
Stocks in Focus
Singapore Exchange (SGX): The group and the Vietnam Exchange (VNX) signed a memorandum of understanding (MOU) to “strengthen their collaboration and jointly explore the establishment of a depository receipt linkage”, they said on Thursday. The MOU aims to enhance cross-border investment opportunities and promote greater connectivity between the two markets. It builds on a 2024 agreement and establishes a framework for SGX and VNX to jointly examine and develop depository receipt products between the two markets. Shares of SGX ended flat at S$22.61 on Thursday, before the news.
SG Local News
Singapore Home Prices Accelerate Despite Slowdown in Sales
Singapore private home prices rose at the fastest pace since 2024 even as sales slowed, in a sign that the property boom in the city-state has yet to abate.
An index of private residential property increased by 1.4% in the third quarter, accelerating from 0.5% in the second, according to preliminary estimates released by the Urban Redevelopment Authority Thursday.
Home sales have dropped significantly amid a dearth of new major project releases, which have long been a major driver of property price surges in the city-state. Overall transactions in the quarter through mid-September were down about 30% from the second, figures released by the authority show.
Retailers Race to Label or Remove Unmarked Stock as Beverage Container Return Scheme’S Transition Period Ends
As the Beverage Container Return Scheme (BCRS) enters full implementation on Thursday (Oct 1), retailers across Singapore raced against the clock to pull unmarked drinks from shelves and restock their inventory with compliant products.
While major supermarket chains made it in time to replace the non-compliant stock on their shelves, some smaller heartland operators and provision stores have found themselves needing more time to refresh their inventories with drinks that bear the BCRS mark.
This comes despite a six-month transition period and steep fire sales to clear older stock before Oct 1.
To get more breathing room, more than 2,700 merchants - mostly provision shops, neighbourhood convenience stores and standalone food stores - applied for a one-month grace period, which the National Environment Agency (NEA) announced less than two weeks before the deadline.
No Decision Made on Expanding Dating Platform for Singapore Public Officers Beyond Pilot: GovTech
The team behind FirstDate, a dating platform being piloted for government workers, said on Thursday (Oct 1) that no decision has been made on whether to expand the service.
The pilot is currently limited to public officers aged 21 to 35 who are not married, Government Technology Agency of Singapore (GovTech) confirmed in response to CNA queries about whether the agency has plans to expand the pilot to the public.
“No decision has been made on whether to launch or expand FirstDate beyond the pilot stage,” it said.