Investors Aggressively Buy And Sell Chinese Stocks Upon Media Updates
As Beijing intensifies its regulatory stance on privacy laws, mo...
Market Briefs
6th August 2021
TikTok Owner ByteDance Lays Off Hundreds Amid China’s Tutoring Crackdown
ByteDance has laid off hundreds of employees as it complies with...
Nintendo Switch Sells Almost 90 million Consoles, Overtakes Sony’s PS3
Nintendo has sold over 89 million Switch consoles, surpassing So...
Courtroom Drama As Huawei CFO’s US Extradition Reaches Final Stages
Kuaishou Shuts Down Video-Sharing App Zynn, Ending TikTok Rivalry
Alibaba Misses Revenue Estimates, Launches Record USD 15 Billion Share Buyback
Indonesian BNPL Play Kredivo To List Via US SPAC
Chinese Gaming Stocks Tank On State Media Report Likening Gaming To Drugs
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Chart of the Day
Straits Times Index
STI:IND
Last Update: 6th August 2021
Previous Close
3,175.10
7.80
0.25%
The Chart Shows
The price has been consolidating in an ascending triangle formation since mid-May 2021. Longer term a big cycle is still rising and provides the tailwind upward force. There is a local resistance band between 3,200 and 3,235, which should be broken to the upside in the coming month or so.
Company Notes
The Straits Times Index (STI) tracks the performance of the top 30 largest and most liquid companies listed on the Singapore Stock Exchange.
Watch List
6th August 2021
Name
Ticker
Commentary
CapitaLand
CAPL:SP
CapitaLand its second Indian logistics private fund CapitaLand India Logistics II Pte. Ltd of SGD 400 million (USD 296 mill). The Singaporean company plans to delist its property development arm and become a pure real estate investment manager to unlock shareholder value.
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Sembcorp Marine
SMM:SP
Sembcorp Marine is in merger talks with Keppel O&M. It continued to be in the red for 1H2021 but losses should narrow in 2H2021.
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Singapore Press Holdings
SPH:SP
Singapore Press Holdings has been made an acquisition offer by Keppel Corporation of SGD 2.2 billion (USD 1.62 billion). The deal comprises of SGD 1.08 billion in cash and SGD 1.17 billion worth of Keppel REIT units.
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Keppel Corporation
BN4:SP
Keppel Corporation recently made an offer to acquire Singapore Press Holdings for SGD 2.2 billion (USD 1.62 billion). The deal comprises of SGD 1.08 billion in cash and SGD 1.17 billion worth of Keppel REIT units.
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Tencent Holdings
700:HK
Tencent has been under intense regulatory scrutiny for anti-competitive behaviour. A merger of 2 Tencent-backed video game streaming companies was blocked by regulators, it was ordered to give up exclusive music rights, and is now mulling a gaming ban for kids after a damning state media report.
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