Latest news with #HongkongLand
Business Times
3 days ago
- Business
- Business Times
Singapore shares end week on high; STI up 0.7%
[SINGAPORE] The benchmark Straits Times Index (STI) capped a week-long rally to touch a new high on Friday (Jul 18). The STI rose 0.7 per cent or 28.07 points to close at 4,189.50, after hitting an intraday peak of 4,192.19. The gains were buoyed by DBS , which hit a high of S$47.05 on Friday morning. It eventually closed 0.7 per cent or S$0.31 higher at S$46.99. Seatrium was the STI's top gainer of the day, rising 5.8 per cent or S$0.13 to S$2.38. The offshore and marine specialist was also the most actively traded counter by volume, with 36.7 million shares worth S$85.9 million traded. The biggest decliner was property developer Hongkong Land . The counter fell 1.1 per cent or US$0.07 to US$6.25. Across the broader market, advancers outnumbered decliners 430 to 147, after 2.2 billion securities worth S$1.6 billion changed hands. Regional markets ended Friday mixed. Australia's ASX 200 jumped 1.4 per cent to a record close of 8,757.20 points, and Hong Kong's Hang Seng Index was up 1.3 per cent. Meanwhile, Japan's Nikkei 225 slipped 0.2 per cent ahead of its upper house elections this weekend. Stephen Innes, managing partner of SPI Asset Management, said that political uncertainty is casting a long shadow over Japan's markets, given that the ruling Liberal Democratic Party-Komeito coalition might fail to secure a majority win in the upper house. 'That sets the stage for a potential leadership shuffle, snap election, or an unstable coalition – all of which would make investors nervous about Japan's ability to navigate complex trade talks and push through cohesive fiscal policy,' Innes added.
South China Morning Post
14-07-2025
- Business
- South China Morning Post
Shanghai's West Bund defies property slump as new CBD attracts MNCs like BMW, Adidas
Shanghai's West Bund, an 11km-long waterfront area in mainland China's financial capital, has bucked the property downtrend plaguing the sector, as companies and retail brands flock to office buildings and malls in the zone. The vibrant area, located on the west bank of the Huangpu River in the southwestern Xuhui district, is emerging as the latest central business district (CBD), with premium office buildings and retail space like Hongkong Land's Westbund Central. The city kicked off the redevelopment of the West Bund in 2010, which involved building world-class residential, commercial, office and entertainment complexes. The area, home to the artificial intelligence (AI) incubator Shanghai Foundation Model Innovation Centre (SMC) , which was visited by President Xi Jinping in April, has already attracted multinationals like BMW and Adidas. 'West Bund is well planned as each section in the West Bund has its own theme and industrial goal,' said Jimmy Chu, a senior director with CBRE's Eastern China office market division. 'The location makes the area a bright spot in Shanghai's real estate market.' A file photo from November 2024 shows buildings under construction at the West Bund in Shanghai. Photo: Costfoto/NurPhoto via Getty Images The first phase of office blocks at Westbund Central, which will be delivered later this year, has been well received by Chinese and foreign companies, and was likely to see a 100 per cent occupancy rate, he added.
Straits Times
01-07-2025
- Business
- Straits Times
Singapore shares move in tandem with Wall Street rally
SINGAPORE - Buoyed by the overnight Wall Street rally, Singapore shares rose on July 1 with about the top one-third of counters by weighting among the blue-chip-gauge Straits Times Index (STI) all closing higher. The STI was up 25.47 points or 0.6 per cent to 3,989.76 points, after the United States indexes S&P 500 and Nasdaq ended at record highs on June 30. Elsewhere in Asia, some indexes edged higher after their respective countries reported improvements in their latest purchasing managers' index, noted private banking and asset management group LGT. Over in Singapore, gainers led decliners 247 to 148 across the broad market. Transactions came in at 1.25 billion of securities totalling $1.15 billion in value. The top gainer on the STI tally was Hongkong Land, with its shares spiking US$0.35 or 6.1 per cent to US$6.12, a day after it announced that it had repurchased 664,000 shares – to be scrapped – over two recent trading sessions at a weighted average price of about US$5.80. The counter of QAF reached a 52-week-high at $0.91, up 1.1 per cent or $0.01, a day after the food company, which is also in the distribution and warehousing business, reported an increase in the interest of joint group managing director Lin Kejian. Mr Lin acquired 115,500 shares for nearly $1 million, which raised his direct interest by 0.02 per cent to 0.968 per cent, and his deemed interest to 39.171 per cent. Meanwhile, CapAllianz was the most active counter with 433.1 million shares transacted, but closed unchanged at $0.003. The Catalist-listed investment holding firm owns a subsidiary engaging in software development and IT consulting and holds a 20 per cent stake in oil concessions. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
01-07-2025
- Business
- Business Times
Singapore shares move in tandem with Wall Street rally
[SINGAPORE] Buoyed by the overnight Wall Street rally, Singapore shares rose on Tuesday (Jul 1), with about the top one-third counters by weighting among the blue-chip-gauge Straits Times Index (STI) all closing higher. The STI was up 25.47 points or 0.6 per cent to 3,989.76 points, after the United States indexes S&P 500 and Nasdaq ended at record highs on Monday. Elsewhere in Asia, some indexes edged higher after their respective countries reported improvement in their latest purchasing managers' index, noted private banking and asset management group LGT. Over in Singapore, gainers led decliners 247 to 148 across the broad market. Transactions came in at 1.3 billion of securities totalling S$1.2 billion in value. Top gainer on the STI tally was Hongkong Land , the shares of which spiked US$0.35 or 6.1 per cent to US$6.12, a day after it announced that it had repurchased 664,000 shares – to be scrapped – over two recent trading sessions at a weighted average price of about US$5.80. The counter of QAF reached a 52-week-high at S$0.91, up 1.1 per cent or S$0.01, a day after the food company, which is also in the distribution and warehousing business, reported an increase in the interest of joint group managing director Lin Kejian. Lin acquired 115,500 shares for nearly S$1 million, which raised his direct interest by 0.02 per cent to 0.968 per cent, and his deemed interest to 39.171 per cent. Meanwhile, CapAllianz was the most active counter with 433.1 million shares transacted, but closed unchanged at S$0.003. The Catalist-listed investment holding firm owns a subsidiary engaging in software development and IT consulting and holds a 20 per cent stake in oil concessions.
South China Morning Post
03-06-2025
- Business
- South China Morning Post
Hong Kong's real estate market cooled in May, with deals slumping to 3-month low
Property deals in Hong Kong fell to a three-month low in May as caution prevailed amid heightened US-China tensions and stock market volatility, while distressed commercial real estate owners continued to offload assets at heavily discounted prices. Advertisement Transactions for new and lived-in homes, offices, shops, car parking slots and industrial units dropped 11 per cent month on month to 6,434, the lowest tally since February, according to data from Centaline Property Agency. The value of the deals rose 1.3 per cent from a month earlier to HK$50.7 billion (US$6.4 billion), a six-month high. Last month's biggest deal was Hong Kong Exchanges & Clearing's HK$6.3 billion purchase of office and retail space in One Exchange Square and other related assets in Central from Hongkong Land, according to the property agency. Meanwhile, commercial property owners continued to sell assets at a loss, with the decline in the Hong Kong interbank offered rate (Hibor) attracting investors. Prospective buyers for Sun Hung Kai Properties' Sierra Sea residential project queue up at the sales office on May 18. Photo: Jonathan Wong Edwin Lee, the founder of Bridgeway Prime Shop Fund Management, said on Monday that his fund had sold 10 street-level shops in the last three months at losses ranging from 12.8 per cent to 43.5 per cent. Advertisement The first Securities and Futures Commission-licensed fund manager focused exclusively on shops and retail property incurred a loss of 25 per cent on its investment of HK$207.5 million.
