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Wed, September 23, 2020 – 8:55 am
THE following companies saw new developments that may affect their securities trading on Wednesday:
Technology plays: Venture Corporation, AEM Holdings and Hi-P International, along with other tech stocks in Singapore, have experienced particular selling pressure. Market watchers say this may be related to a general repositioning among investors globally, as they move away from the early stages of the pandemic. Venture stocks fell S $ 0.12 or 0.6% to close at S $ 18.98 on Tuesday, AEM closed at S $ 3.55, up S $ 0.05 or 1.4%, while Hi -P ended at S $ 1.05, down S $ 0.01 or 0.9%.
Singapore Stock Exchange (SGX): The Singapore Stock Exchange and the National Stock Exchange of India have signed a formal agreement on their new planned trading model for Nifty futures contracts. SGX shares closed unchanged at S $ 8.90 on a cumulative dividend basis on Tuesday, prior to the latest update.
Singapore Telecommunications (Singtel): The telecommunications company’s share price fell to its lowest level in 12 years on Tuesday as large volumes changed hands. The accountant lost 0.05 Singapore dollars or 2.3 percent to settle at 2.16 Singapore dollars on Tuesday, after 40.5 million shares were traded.
QAF: The main board-listed food supplier expects its Australia-based pork production business to do slightly worse in fiscal 2020 than previously expected. QAF shares added half a Singapore penny or 0.6 percent to 92 cents on Tuesday, ahead of the announcement.
Aspen (Group) Holdings: The Malaysia-based real estate developer said it will invest an initial RM105 million (S $ 34.6 million) in a joint venture involving the manufacture and distribution of rubber gloves. On Tuesday, the Catalist-listed firm also announced the appointment of Calvin Ng as chief operating officer for its glove unit. Shares of Aspen closed at 18.5 Singapore cents on Tuesday, an increase of 3.3 cents or 21.7 percent.
Keppel Corp: The conglomerate’s asset management arm, Keppel Capital, has been halfway through the target commitments for a $ 500 million regional real estate investment fund. Keppel’s shares closed down 0.07 Singapore dollars or 1.7 percent at 4.12 Singapore dollars on Tuesday, ahead of the news.
Asian Healthcare Specialists: The medical services group has redeemed the remaining S $ 4 million from a convertible bond issue to a Heliconia unit of Temasek Holdings. Shares of Asian Healthcare Specialists traded on Catalist closed up Singapore half a cent or 2.7% at 19 cents on Tuesday, ahead of the announcement.
Singapore Airlines (SIA): The weak demand for travel aside, the flag carrier has major problems to solve, The Business Times wrote on Wednesday. Among other things, one analyst pointed to SIA’s “poor track record” in foreign investment with other airlines. SIA shares closed at S $ 3.36 on Tuesday, down S $ 0.06 or 1.8 percent.
Commercial stop: Agricultural products company Wilmar International requested a halt to operations on Wednesday morning before the market opened, pending the publication of an announcement. The counter closed at S $ 4.38 on Tuesday, an increase of S $ 0.03 or 0.7%.
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