Singapore: Singapore stocks finished higher on the last trading day of the week, with the Straits Times Index gains one percent, up 29.07 to 3,083.6 on Friday’s session. The most traded counter was NamCheong, Genting Singapore and SingTel.
Among active index stocks, ComfortDelGro gained 0.94 percent, up two Singapore cents to S$2.16, while DBS Bank finished 0.73 percent, or 17 Singapore cents higher to S$23.32.
The FTSE Bursa Malaysia KLCI surged 3.5 percent last week from its last one-year low on July 6. Last week index surpasses resistance level of 1,700 points, sooner than expected after global investors returned to the equity market.
The index is in an uptrend to test the resistance level of 1,750 points level as valuation is cheap. It is now closing in on its 50-day simple moving average at 1,757.66 points.
Bank Negara Malaysia (BNM) announced that Malaysia’s GDP grew by 4.4 percent for 3Q 2018 compared with 6.2 percent in the same period last year, driven by strong private consumption following the outcome of zero GST rate in the quarter.
Datapulse Technology (SGX: BKW), which changed its mind on a recently acquired hair care business, finished 1.9 percent up at 26.5 cents after it said it wants to sell the business for less than initially agreed price
Keppel Infrastructure Trust (SGX: A7RU) advanced 1.09 percent higher at 46.5 cents after confirming it is buying Australian chemicals group Ixom for A$777 million (S$779 million).
Sanli (SGX:1E3) wins contracts worth $54.3 mil including Pulau Tekong project.
Genting Singapore (SGX:G13) as the stock is now looking cheap, analyst says
Expectations that the world’s main two economies are trying endeavors to determine their taxes standoff offered help to worldwide markets, however clashing reports were holding any positive thinking under control.
On Thursday it was accounted for that China had given the US various exchange concessions as a feature to smooth relations of a G20 summit where Donald Trump is relied upon to meet Chinese President Xi Jinping.
Key Events Which can Affect the Singapore Stock Market (SGX)
|November 21, 2018|
|19:00||SGD||GDP (QoQ) (Q3)||4.70%|
|19:00||SGD||GDP (YoY) (Q3)||2.60%|
|November 22, 2018|
|19:00||SGD||GDP (YoY) (Q3)||4.10%||2.60%|
|19:00||SGD||GDP (QoQ) (Q3)||1.30%||4.70%|
|November 23, 2018|
|0:00||SGD||CPI (YoY) (Oct)||0.70%|