Singapore stocks are trading higher at noon after the US Fed held interest rates again as expected and showed it was not in a rush to hike in June.
At 12.01pm, the benchmark Straits Times Index was up 5.48 points or 0.19% to 2,880.20, with 557 million shares worth $509.2 million changing hands. Gainers outnumbered losers 180 to 109.
Offshore & marine and oil & gas stocks such as Ezra, Rex International, Vard, Ezion and Yangzijiang Shipbuilding were among the most actives.
Among the STI component stocks, SATS led gainers by rising 2.25% to $4.09 cents. Sembcorp Industries also rose 1.7% to $2.98. At the other end, City Developments retreated 1.63% to $8.45 while Jardine C&C fell 1.46% to $40.40.
K1 Ventures rose 8.3% to 84.5 cents after reporting a six-fold increase in earnings to $35.8 million in 3Q. Revenue rose 16 times to $51.7 million, due to the investment income from Knowledge Universe Holdings LLC of $48.5 million. The group also recognised other operating expenses of $15.8 million.
UOB rose 10.9% to $19.06 after announcing a 4.4% fall in 1Q earnings to $766 million, in line with expectations. The average forecast from five analysts polled by Reuters was $764 million. The bank blamed softer investor appetite due to volatile market conditions as the reason for the decline in wealth management and trading income.
Sembcorp Marine rose 1.8% to $1.70. The rig and ship builder posted a 48.2% decline in earnings to $54.8 million for 1Q. Revenue fell 29.6% to $918.4 million on the back of lower revenue recognition for rig building projects from customer deferment requests and customer restructuring. SembMarine’s shares closed 0.3% lower at $1.67.
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At 12.01pm, the benchmark Straits Times Index was up 5.48 points or 0.19% to 2,880.20, with 557 million shares worth $509.2 million changing hands. Gainers outnumbered losers 180 to 109.
Offshore & marine and oil & gas stocks such as Ezra, Rex International, Vard, Ezion and Yangzijiang Shipbuilding were among the most actives.
Among the STI component stocks, SATS led gainers by rising 2.25% to $4.09 cents. Sembcorp Industries also rose 1.7% to $2.98. At the other end, City Developments retreated 1.63% to $8.45 while Jardine C&C fell 1.46% to $40.40.
K1 Ventures rose 8.3% to 84.5 cents after reporting a six-fold increase in earnings to $35.8 million in 3Q. Revenue rose 16 times to $51.7 million, due to the investment income from Knowledge Universe Holdings LLC of $48.5 million. The group also recognised other operating expenses of $15.8 million.
UOB rose 10.9% to $19.06 after announcing a 4.4% fall in 1Q earnings to $766 million, in line with expectations. The average forecast from five analysts polled by Reuters was $764 million. The bank blamed softer investor appetite due to volatile market conditions as the reason for the decline in wealth management and trading income.
Sembcorp Marine rose 1.8% to $1.70. The rig and ship builder posted a 48.2% decline in earnings to $54.8 million for 1Q. Revenue fell 29.6% to $918.4 million on the back of lower revenue recognition for rig building projects from customer deferment requests and customer restructuring. SembMarine’s shares closed 0.3% lower at $1.67.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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