Daily Archives: April 10, 2019


Singapore Stocks Watch: STI resumes Wednesday at 3,328.37, up 0.08% on day

Singapore Stocks Watch:
SINGAPORE stocks switched Wednesday morning’s retreat as afternoon exchanging continued with the Straits Times Index progressing 0.08 percent or 2.77 indicates on the day 3,328.37 as at 1.04pm.

Failures pushed out gainers 154 to 144, after around 613 million securities worth S$444.4 million changed hands.

Among the most intensely exchanged by volume, gold excavator LionGold Corp exchanged level at S$0.001 with 28.2 million offers exchanged. Yangzijiang Shipbuilding Holdings fell 0.61 percent or S$0.01 to S$1.62 with 21.1 million offers exchanged.

Dynamic list stocks included UOB, up 0.53 percent or S$0.14 to S$26.64; and DBS Group, down 0.04 percent or S$0.01 to S$26.99.

Singapore Press Holdings benefits sank 25.7% to $29.69m in Q2


Lower advertisement and flow income pulled down the organization’s execution.

Singapore Press Holdings’ benefits were down 25.7% to $29.69m in the second quarter of 2019 from $39.93m in the earlier year, as per its budget summary. Income plunged 4.4% from $233.70m to $223.33m.

Gathering income plunged 4.4% from $233.7m to $223.3m in the midst of lower print ad income, which fell 16% to $14.1m, and lower flow income, which slipped 8.8% to $3.2m. The income decays were padded by rental income of $6.2m from SPH’s UK understudy settlement portfolio and $3.2m from Figtree Grove Shopping Center in Australia.

Income for SPH’s media business declined 10.1% to $33.4m as print commercial income dropped 12.3%. The paper business represented 10.5% or $18.6m of the decrease, somewhat because of shorter bubbly promoting window among Christmas and Chinese New Year this year.

On the advanced front, paper computerized promotion income became 15.1% to $1.7m. Flow income dove 91.7% as day by day normal paper print deals diminished by 71,129 duplicates (12.4%), while day by day normal paper computerized deals expanded by 23,081 duplicates (11.8%).

Other working salary fell 31.6% from $6.6m in Q2 2018 to $4.5m in Q2 2019, essentially because of intrigue pay on investors’ credits for The Woodleigh Residences and The Woodleigh Mall in 2Q 2018.

In the interim, SPH noticed a 9% cut in materials, creation and circulation costs from $33.2m to $30.2 because of lower income of its media business. Staff costs additionally fell 12.9% to $79.9m because of lower headcount and reward arrangement.

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  • Oil prices crept higher on Wednesday, supported by supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic slowdown could soon dent fuel consumption. International benchmark Brent futures were at $70.66 per barrel at 0158 GMT, up 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $64.10 per barrel, up 12 cents, or 0.2 percent, above their last settlement.
  • President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed by coastal states as he looks to build support ahead of next year’s election. Trump’s orders will direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states, on the basis of environmental reasons, to delay projects such as pipelines to carry natural gas to New England and coal export terminals on the West Coast.
  • U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing’s tariff on U.S. ethanol products were “positive,” but cautioned the discussions were not over. “There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry,” he told reporters. “While things look positive, it’s never over till it’s over with the Chinese.”



  • China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world’s largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area.
  • Bank of Japan Governor Haruhiko Kuroda said on Wednesday the central bank was seeking to create a condition in which any acceleration in inflation is accompanied by rises in corporate profits and wages. “The BOJ isn’t seeking to push up inflation alone. We want to create a situation where wage and employment conditions improve too … and a positive economic cycle is created,” Kuroda told parliament.
  • A political feud over President Donald Trump’s picks for the U.S. Federal Reserve Board broke into an open brawl on Tuesday even before the nominations of Herman Cain, a former restaurant chain executive, and Stephen Moore, a conservative economic commentator, have been formally submitted to the Senate. Cain and Moore, both overt loyalists to the president, in recent days have waged unprecedented public campaigns for the Fed jobs, with both eagerly endorsing Trump’s economic policies and Moore pledging to “accommodate” those policies once he is at the Fed.


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