Finance

National Wages Council in talks for possible pay rise for low wage workers

Next week, the National Wages Council (NWC) is expected to announce recommended pay hikes for low wage workers. If these recommendations are accepted by the Government, they will come into effect by 1 July this year. The NWC comprises of 18 members, including chairman Peter Seah, six NTUC unionists, six representatives from employer groups, and five public-sector officials. On 25 …

Read More »

Oil price challenging $50 resistance, Yellen’s speech to be watched

By Margaret Yang, CMC Markets Equities – Asian equities markets opened positively today. The Singapore market continued trading sideways this week, with volume reducing. However, Yellen’s public comments tonight could give markets good reason to remain cautious. Recently, a series of positive US economic data has led a number of Fed governors to take a more hawkish stance towards a …

Read More »

Is “sell in May” over?

By Margaret Yang, CMC Markets Equities – Asian equities rebounded strongly on Wednesday, led by Hong Kong and Japan. The Hang Seng Index soared 537 points or 2.71%, driven by the energy and consumer sectors. Tencent Holdings (700 HK) and HSBC Holdings (5 HK) jumped 2.5% and 3.81% respectively. The Singapore market closed 0.8% higher, with 1Q GDP data in …

Read More »

SingPost shares fall as Acra investigates possible breaches of Companies Act

Singapore Post (SingPost) is currently undergoing investigations by accounting watchdog the Accounting and Corporate Regulatory Authority (Acra) for possible breaches of the Companies Act. In response, investors dumped SingPost shares, causing shares to fall as much as 3.5 per cent to S$1.52 in the mid-morning of 19 May. At the end of the day, SingPost shares closed down 1.6 per …

Read More »

Scoot and Tigerair to be managed by new SIA holdings company

Singapore Airlines (SIA) has established a new holding company to own and manage budget airlines Scoot and Tiger Airways. It was announced by SIA on 18 May that the company, Budget Aviation Holdings, will encompass the two budget carriers. Budget Aviation Holdings will be led by the previous CEO of Tigerair Mr Lee Lik Hsin, who had been with Tigerair …

Read More »

New passenger terminal building at Seletar Airport by end-2018

A new Passenger Terminal Building (PTB) for Seletar Airport is slated to be completed by the end of 2018, said the Civil Aviation Authority of Singapore (CAAS) and Changi Airport Group (CAG) in an announcement on 19 May. The new PTB will be built at the eastern end of the airport. According to a joint press release by the CAAS …

Read More »

Equities, commodities and treasuries fall on fear of a rate hike

By Margaret Yang, CMC Markets Equities – Asian equities fell on Thursday, along with treasuries and commodities. In short, everything was falling as the fear of a June rate hike returned to the market. According to Bloomberg world interest rate probability, the implied chance of a June rate hike has climbed to 32% from 4% over the last two days. …

Read More »