MARKET UPDATES :
- SINGAPORE shares end 0.45 per cent lower on Tuesday. The Straits Times Index fell 14.46 points to close at 3,211.65. Some 1.19 billion shares valued at S$1.00 billion changed hands. Losers beat gainers 236 to 147.
- THE Singapore economy is “on track for moderate growth” despite some external and domestic headwinds, said the Monetary Authority of Singapore (MAS) on Tuesday in its twice-yearly Macroeconomic Review. Reiterating its 2014 gross domestic product (GDP) growth forecast of 2.5-3.5 per cent this year, and a “broadly similar” pace for 2015, the central bank said: “Sectors that cater to final demand in the US will fare relatively favourably, while those that are tied to the eurozone and China could be weighed down by the sluggish performance in these economies.
- THE Intellectual Property Office of Singapore (IPOS) and the State Intellectual Property Office of China (SIPO) have agreed to enhance cooperation in this area through a Memorandum of Understanding (MOU). The agreement was inked on the sidelines of the 11th Singapore-China Joint Council for Bilateral Cooperation meeting co-chaired by Singapore’s deputy prime minister Teo Chee Hean and China’s vice- premier Zhang Gaoli.
- CREDIT Counselling Singapore (CCS) will offer a centralised repayment system to borrowers with debts owed to several banks from next year. This was announced by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday at the CCS’s 10th anniversary luncheon. Mr Tharman is also chairman of the Monetary Authority of Singapore. With this system, CCS will coordinate with all the banks that are owed money by a borrower, and create a centralised repayment plan for him. This will take into account the borrower’s income, spending needs and loan obligations.
- SINGAPORE is building the region’s first micro-grid to integrate multiple renewable energy sources as it scales up its expertise beyond solar power.The Renewable Energy Integration Demonstrator Singapore, to be built offshore at Semakau Landfill, will test and demonstrate the integration of solar, wind, tidal- current, diesel, storage and power-to-gas technologies. It will produce enough electricity to power about 250 HDB four-room flats.
- THE Singapore economy is “on track for moderate growth” despite some external and domestic headwinds, said the Monetary Authority of Singapore (MAS) on Tuesday in its twice-yearly Macroeconomic Review.
- OCBC Bank has appointed Pich Event Management to organise OCBC Cycle 2015, which will be held over the weekend of Aug 29-30, 2015 at the Singapore Sports Hub.
STOCK RECOMMENDATION :
- BUY SINGAPORE TECHNOLOGIES ENGINEERING ABOVE 3.700 TG 3.750, 3.820, 3.920 SL 3.620