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3 Things You Need to Know About the Singapore Stock Market Today

Hello, everyone. Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), finished the day at 3,423.17 points, inching down 6.85 points or 0.2%.

The biggest loser in the index was CapitaLand Commercial Trust (SGX: C61U), slumping 1.6% to S$1.83.

On the other hand, Jardine Strategic Holdings Limited (SGX: J37) rose the most today. The holding company, which has interests in other Singapore-listed entities, added 1.5% to USS$43.60.

2. Last night, Singapore Exchange Limited (SGX: S68) was named the “Exchange of the Year” by Energy Risk at its annual Asia awards. The awards acknowledge the excellence across Asian commodities markets, and this is the second year that the local stock exchange has been conferred the title.

3. Keppel Land Limited, a subsidiary of Keppel Corporation Limited (SGX: BN4), has inked a conditional joint venture agreement with Thailand’s property developer, KPN LAND, to acquire two prime sites in Bangkok’s central business district for around THB 2.2 billion (approximately S$90 million).

Keppel Land and KPN LAND plan to develop two premium freehold condominiums projects on these sites and will jointly manage these developments.

Keppel Land will hold a 49% stake in the joint venture, with KPN LAND holding the remaining stake. The former’s share for the total development cost for both the projects will be about THB 2.8 billion (around S$114 million).

The construction of the luxury apartments is expected to commence around the third quarter of 2018.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns units of CapitaLand Commercial Trust and shares of Singapore Exchange Limited.