- Singapore bank shares surged on Wednesday after two top lenders reported record profit for the first quarter, propping up the main index from 2-week lows. DBS Group Holdings Ltd shares jumped as much as 2.8% to S$17.31, their highest in more than 3 months, while OCBC Ltd shares gained 3.2 per cent to a 3-week high of S$9.77. The gains pushed the Singapore index up 0.77 per cent from the 2-week low it hit on Tuesday.
- BUSINESS sentiment among Singapore’s manufacturers has improved, says the Economic Development Board’s (EDB) quarterly poll of more than 400 manufacturing companies conducted between March and April. This was thanks to a spike in optimism from the precision engineering cluster, as well as a turnaround in the electronics cluster’s sentiment.
- CATHAY Pacific Airways will move to Singapore Changi Airport’s new Terminal 4 (T4) when it is ready in 2017. The Changi Airport Group said on Wednesday that the Hong Kong carrier will be the first airline to confirm its move to the new terminal. Tender for the construction of the S$985 million contract was given to Takenaka Corporation in December last year.
- BUY SINGAPORE TELECOMMUNICATION ABOVE 3.830 TG 3.880, 3.930, 3.990 SL 3.760