The Week In Numbers: Singapore Shares In Demand

The International Monetary Fund is bullish on America. It said it was optimistic for US economic growth under President Donald Trump. However, it warned that it could herald trouble for the rest of the world. It said tax reforms and infrastructure spending are likely under Trump. In January, the IMF reckoned that the US economy could grow 2.3% this year.

According to a survey by the Public Transport Council, Singapore commuters are satisfied with both private-hire services and traditional taxis. It said 95.8% of respondents were happy with the former, while 94.4% were satisfied with the latter that include ComfortDelGro (SGX: C52).

You could almost feel the love for the Straits Times Index (SGX: ^STI) ahead of Valentine’s Day. The benchmark index climbed to a 52-week high. It was apparently driven by news of a good meeting between President Trump and Japanese Prime Minister Shinzo Abe.

Preliminary numbers from the Singapore Tourism Board show that visitor numbers grew by 7.7% last year to 16.4 million. Visitors spent 48% more on shopping between January and September. Indonesia was the top source of visitors followed by tourists from China. Could be good news for Singapore’s shopping mall owners that include SPH REIT (SGX: SK6U), CapitaLand Mall Trust (SGX: C38U) and Frasers Centrepoint Trust (SGX: J69U).

Oversea-Chinese Banking Corporation (SGX: O39) reported an 11% drop in full-year profits to S$3.47 billion. The fall was driven by higher provisions for bad debts. DBS Group (SGX: D05) posted a 2% fall in profits to S$4.2 billion for the full year. The non-performing loan rate rose from 0.9% to 1.4%. United Overseas Bank (SGX: U11) said full-year profits fell 3.5% to S$3.10 billion.

And finally, a café in Vienna is charging customers for charging their mobile phones. It has introduced a fee of 1 euro for customers who plug in their phones for too long. The café owner said: “I run a café, not an internet café”. But customers can still make use of the wireless internet for free. That is, assuming, the phone has power.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in CMT. Motley Fool Singapore has recommended UOB.