Daily Archives: October 31, 2018


Singapore shares take off on Wednesday; STI crosses 3,000 check

Singapore Stocks Watch : Singapore shares shut higher on Wednesday, with the Straits Times Index up 52.35 or 1.8 percent to close at 3,018.80. The STI had shut beneath its key help level of 3,000 for sequential sessions since exchanging finished on Oct 26 at 2,972.02.About 2.27 billion offers worth S$1.48 billion altogether changed hands, which worked out to a normal unit cost of S$0.65 per share.

Gainers dwarfed failures 259 to 151.

The most effectively exchanged stock was Genting Singapore, which rose S$0.02 to S$0.88 with 52.9 million offers evolving hands.

Different actives included ThaiBev and Rex International.

Among financials, DBS shut S$0.66 or 2.9 percent higher at S$23.46, UOB finished S$0.38 or 1.6 percent up at S$24.38, while OCBC picked up S$0.24 or 2.3 percent to end at S$10.74.

Among telcos, Singtel shut S$0.04 or 1.3 percent higher at S$3.16.

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City Gas levy to increment by 2.29% from Nov 1 to Dec 31

SINGAPORE: Gas levies for family units will increment by 2.29 percent or 0.44 penny for every kilowatt hour (kWh) from Nov 1 to Dec 31, City Gas declared on Wednesday (Oct 31).

This implies families should pay 19.67 pennies for every kWh, barring Goods and Services Tax, when contrasted with 19.23 pennies already.

The expansion is because of higher fuel costs contrasted and the past quarter, City Gas said in a media discharge.

City Gas audits the gas duties dependent on rules set by the Energy Market Authority, which has endorsed the gas levies for the two-month time frame.

gas tariffs table

Source: CNA








  • Gold prices fell on Tuesday as the safe haven demand for the dollar was boosted by concerns over the pending trade dispute between the U.S. and China. At 10:25 AM ET (14:25 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange lost $6.80, or 0.55%, to $1,225.80 a troy ounce. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.22% to 96.79.
  • Oil prices continued to slide on Tuesday, adding to a sharp decline for the month of October as concerns over the outlook for global demand amid simmering trade tensions, coupled with increasing supply and rising inventories, pummeled the outlook for crude. New York-traded West Texas Intermediate crude futures fell 98 cents, or 1.46%, at $66.06 a barrel by 8:56 AM ET (12:56 GMT).
  • The Trump administration has cut down Iran’s crude exports more quickly than many expected, but just days before a White House deadline, it is still a long way from achieving its stated goal of zeroing out Iranian oil sales. Iran’s oil exports have fallen by about a third in the five months through September. They tumbled by about 800,000 barrels per day since President Donald Trump announced in May he was abandoning a nuclear accord with Iran and restoring wideranging sanctions on its economy.



  • Finance minister Philip Hammond’s budget plans show Britain is not serious about its goal of wiping out its budget deficit by the mid-2020s, the Institute for Fiscal Studies (IFS) said on Tuesday. Hammond unveiled the biggest discretionary loosening of the public finances since the economic crash on Monday, as he tried to make good on Prime Minister Theresa May’s promise that years of austerity were ending.
  • The credit quality of U.S. states is improving, with revenue growth and spending moderation helping to halt a downward trend, according to a report to be released later on Tuesday.States’ revenue growth is higher than national economic growth in current dollars, the bi-annual report from global investment management firm Conning Inc found. The boost in credit quality to “stable” is Conning’s first higher outlook, up from “declined,” on states in two and a half years. The firm manages more than $9 billion of municipal bonds in client portfolios.
  • Italy’s economy stagnated in the third quarter, and Prime Minister Giuseppe Conte said the zero growth justified Rome’s expansionary 2019 budget which the European Commission has rejected because it breaks EU rules. Gross domestic product was unchanged between July and September, following a 0.2 percent rise in the second quarter, and was up just 0.8 percent on an annual basis, national statistics bureau ISTAT reported.


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