MARKET UPDATES :
- SINGAPORE shares ended higher on Thursday with the Straits Times Index gaining 21.22 points to 3,304.93. Some 1.5 billion shares, valued at S$1.22 billion were traded. Gainers numbered 220 while losers numbered 195.
- Indonesia’s central bank kept its key interest rate steady on Thursday despite slowing growth, ahead of an expected fuel price hike by the new government that will likely push up inflation. Bank Indonesia kept the rate at 7.50 per cent for the 12th consecutive month, in line with economists’ forecasts.Growth in Southeast Asia’s top economy has been slowing from recent highs of more than six per cent, dropping to 5.01 per cent on-year in the third quarter, the weakest pace of expansion for five years.
- Indonesia’s current account deficit in the third quarter narrowed to 3.07 per cent of gross domestic product compared with 4.27 per cent in the second quarter and 3.9 per cent in July-September 2013, Bank Indonesia’s governor said on Thursday.Between June and November last year, Bank Indonesia raised its benchmark interest rate 175 basis points to shrink the then- ballooning current account deficit. The tightening has contributed to a slowdown in this year’s economic growth rate.
- SATS Ltd posted a 3.3 per cent decrease in net profit to S$47.1 million for the second quarter ended Sept 30, 2014, after the market closed on Thursday.Revenue for the same period stood at S$442.2 million, inching down 2.2 per cent from the same period a year ago.
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