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Market Round-Up: What did you miss?

A quick look at all the market moving events and big financial news of the day. From DBS Group asset quality woes to CapitaLand's S$170.3 million, get your daily dose of all the latest in the world of business right here!

singapore trader
Reuters
  • Singapore stocks fell on Friday, dragged lower by biggest lender DBS Group Holdings after the company flagged worries over asset quality.
  • The Straits Times Index lost 0.42 percent or 14 points to end at 3,329.
  • DBS fell 2.5 percent after the lender said asset quality pressures will continue and the risk of heightened credit costs in the oil and gas support services sector will persist with low oil prices.
  • Singapore Post, which provides domestic and international postal services, dropped 0.8 percent after posting a 13.6 percent drop in first-quarter profit due to lower domestic mail volumes, higher costs and increased competition.
  • Utility services provider Sembcorp Industries lost 1.6 percent after its net profit fell 36.1 percent in the second-quarter, hurt by weak performance of its marine business.
  • Among the gainers, shares in property investment firm Hongkong Land Holdings gained 2.6 percent after it reported a 148 percent surge in first-half net profit to US$3.13 billion.
  • CapitaLand's unit the Ascott will be investing S$170.3 million to develop co-living space at Singapore's prime property Funan. Shares in CapitaLand rose 3.7 percent to S$3.88.
  • Trading in TT International shares were suspended as the consumer electronics retailer figures out its funding options amidst creditors' demands.
  • Phosphate mining company AsiaPhos reported a 116 percent surge in the second-quarter net profit due to increased sales volume and average selling prices of yellow phosphorus or P4.

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