Market Snapshot
Singapore stocks opened higher on Friday. STI rose 0.3%; Frasers Property up 2%; Top Glove, Olam Group, YZJ Fin Hldg up 1% each; HPH Trust, Riverstone down about 2%; OUEREIT down about 1%.
Stocks in Focus
ST Engineering: Over the next five years, the company will invest S$250 into a programme to drive physical artificial intelligence (AI) applications such as roboticsThe programme aims to improve physical AI, which is capable of interacting with and understanding physical space through sensors to tackle complex operational challenges. Under the programme, ST Engineering will equip its workforce with necessary AI skills, it said at the InnoTech Conference on Thursday. Shares of ST Engineering closed on Thursday at S$7.95, up S$0.07 or 0.9 per cent.
Olam Group, Yangzijiang Financial: Following the Straits Times Index’s (STI) latest quarterly review, food and agricultural giant Olam Group and investment management company Yangzijiang Financial will be added to the STI reserve list. They will replace hospitality player CapitaLand Ascott Trust and transport operator ComfortDelGro. Olam shares fell S$0.01, or 1 per cent, to close at S$1 on Thursday. The shares of Yangzijiang Financial closed at S$1.05, down S$0.02 or 1.9 per cent.
Stoneweg Europe Stapled Trust: The managers announced on Friday that the stapled group’s indirectly owned subsidiary Yova Haagse Poort entered into a new secured green development loan for an aggregate amount of 50 million euros (S$75.1 million). The loan has a term of five years and will fund primarily the major redevelopment and upgrade of Haagse Poort, the group’s largest asset in The Hague, the Netherlands. The group’s stapled securities closed at 1.56 euros on Thursday, up 0.01 euro or 0.7 per cent.
SG Local News
Semicon Industry Among Areas Where Singapore, India Will Deepen Collaboration
The semiconductor industry is one area where India and Singapore will deepen cooperation, as both countries develop an “ambitious and detailed” road map for the next phase of relations, said Singapore’s Prime Minister Lawrence Wong on Thursday (Sep 4).
“Singapore companies are keen to develop sustainable industrial parks in India to support India’s manufacturing ambitions,” he said in a joint press conference with Indian Prime Minister Narendra Modi.