MARKET UPDATES :
- SINGAPORE shares end higher on Wednesday.The Straits Times Index gained 6.95 points to 3,419.15.Some 1.38 billion shares, valued at S$1.23 bllion were traded. Gainers numbered 233 while losers numbered 177.
- Singapore Exchange Ltd is seeing early signs of an improvement in trading volume following a number of measures taken to boost liquidity, the company’s chief executive officer told Reuters.”The first three weeks of this year are coming up much stronger than the same three weeks a year ago,” Magnus Bocker said in an interview. SGX has launched a series of initiatives over the past year to improve liquidity such as providing incentives for brokers to act as market makers and cutting the minimum number of shares that need to be purchased in a single trade from 1000 units to 100.
- OLAM International will redeem US$750 million bonds due 2018 on Feb 27, it said on Wednesday.This will be done at 103.375 per cent of the principal amounts of the bonds, together with unpaid accrued interest.The agri-commodities firm, which is in the midst of revamping its capital structure, earlier in January issued US$50 million in senior notes due 2020 to an institutional investor at a fixed coupon rate of 4 per cent. This was part of the US$5 billion Euro medium term note programme it established on July 6, 2012, and updated on July 14, 2014.
- The Monetary Authority of Singapore (MAS) on Wednesday made a surprise cut to the slope of its Singapore dollar nominal effective exchange rate (S$NEER) as inflation pressure eases.The central bank will continue with the policy of a modest and gradual appreciation of the S$NEER policy band but the slope of the policy band will be cut.
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