Here are three things about the local stock market that you might be interested in today.
1. The Straits Times Index (SGX: ^STI) ended the day at 3,479.8 points, gaining 0.4% or 13.4 points.
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Of the 30 index components, the biggest winner was CapitaLand Limited (SGX: C31). The property giant’s shares rose 1.7% to S$3.69. After the market closed, the group announced that it has established a wholly-owned subsidiary, CLC Investment Six Pte Ltd, for investment holding.
On the other hand, the biggest loser of the index was Golden Agri-Resources Ltd (SGX: E5H); its shares tumbled 1.4% to S$0.345.
2. Singapore Exchange Limited (SGX: S68) (SGX) updated the market today that it will make available new India equity derivative products in June this year to “provide market participants with continuity and the ability to seamlessly transition their current India risk management exposures”. The new derivatives will also add to the existing single-stock futures offerings linked to Indian counters.
SGX added that evaluation of a joint trading and clearing model in Gujarat International Finance Tech (GIFT) city between the National Stock Exchange of India (NSE) and SGX is ongoing. Although implementation is not feasible before the licence agreement with NSE expires in August 2018, “SGX remains committed to engagements with NSE and other relevant stakeholders in India towards a collaboration in GIFT city”.
The latest announcement comes after SGX announced in February that India’s three major stock exchanges, including NSE, would stop providing market data to overseas exchanges to curb migration of trading volumes from India.
For the day, SGX shares added 1.1% to S$7.44.
3. Aircraft maintenance, repair and overhaul firm, SIA Engineering Company Ltd (SGX: S59) has inked an in-flight entertainment and connectivity maintenance agreement with Thales. Thales is the brainchild of Singapore Airlines (SGX: C6L) latest in-flight entertainment and connectivity solutions for its medium-haul A350 XWBs aircraft.
The new agreement between SIA Engineering and Thales will support the Singapore Airlines fleet for an initial term of 10 years. The scope of services includes line maintenance, software and media content loading, and support.
SIA Engineering Company’s shares went up 0.3% to S$3.21 while shares of Singapore Airlines increased 0.8% to S$11.09.
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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 shares in Singapore Exchange Limited.