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) added 7.7 points or 0.2% to end the day at 3,385 points.
The biggest winner of the lot was DBS Group Holdings Ltd (SGX: D05) after its shares added 2.2% to S$27.31.
Last week, the bank reported its earnings for 2017. Total income for the year grew 4% to a record S$11.92 billion while net profit rose 4% to S$4.39 billion, a new high as well. The increase in the top line was due to broad-based growth in loans and fee income, which was offset by a lower net interest margin and poorer trading performance.
On the other hand, Singapore Exchange Limited (SGX: S68) (SGX) lost the most ground after it announced yesterday that the National Stock Exchange of India (NSE), Bombay Stock Exchange and Metropolitan Stock Exchange of India would stop licensing their data to overseas exchanges. SGX offers trading and clearing of India equity derivatives to clients all over the world.
SGX said that under the licence agreement with NSE, there would be continuity of listing and trading of SGX’s Nifty suite of derivative products at least until August this year. The local stock exchange is looking into developing and launching new India-access risk management solutions for the market.
SGX’s shares ended the day at S$7.31, down 7.4%.
2. The earnings season is here so do check out some of the latest earnings coverage below:
3. HRnetGroup Ltd (SGX: CHZ) announced that its subsidiary, HRnet One Pte Ltd, had entered into an agreement with Glints Intern Pte Ltd and its shareholders to purchase a stake in Glints, which runs Asia’s first career discovery and development platform for graduates and young professionals.
The stake “will provide an avenue for HRnetGroup to stay ahead of the curve in a competitive digital HR space”. The purchase price of S$0.5 million will be paid for with the funds generated from HRnetGroup’s initial public offering last year.
HRnetGroup – one of the 30 best stocks to own in Singapore in 2018 – finished Monday at S$0.79, down 1.3%.
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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 DBS Group Holdings Ltd and Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares in Singapore Exchange Limited, The Hour Glass Ltd and VICOM Limited.