Singapore's non-oil domestic exports (NODX) shrank by a worse-than-expected 7.2 per cent in December from a year ago, the second straight month of contraction, after shipments to China fell more sharply. Economists polled by Reuters were expecting December NODX to fall 5.1 per cent from a year earlier.
Singaporeans' inflation expectations have plummeted to their lowest level since a survey's inception in September 2011 on turmoil in China's equity markets, continued weakness in global demand and slumping oil and commodity prices.
GS Holdings shares rose on their debut on the Catalist board on Monday (Jan 18), bucking the broader market to trade up 4 per cent on its IPO price as at 11.12am this morning. GS Holdings, which provides centralised dish-washing services, was trading at 26 cents, up one cent on its placement price of 25 cents.
Keppel Data Centres Holdings, a subsidiary of Keppel Telecommunications & Transportation (Keppel T&T), has selected Epsilon to deliver local access networks in Singapore, IP Transit services and global connectivity.
Oil prices hit their lowest since 2003 on Monday (Jan 18), as the market braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend. The UN nuclear watchdog on Saturday said Tehran had met its commitments to curtail its nuclear programme, and the United States immediately revoked sanctions that had slashed Iran's oil exports by around 2 million barrels per day (bpd) since its pre-sanctions 2011 peak to little more than 1 million bpd.
China's embattled top securities regulator, Mr Xiao Gang, has offered to resign, sources said, after perceived mismanagement wiped more than US$5 trillion off the capitalisation of the Shanghai and Shenzhen stock markets since they peaked last June.
China's home-price recovery spread to more cities in December, especially smaller ones, after the authorities rolled out easing measures targeting regions with a surplus of unsold homes.
New-home prices climbed in 39 cities, compared with 33 in November, among the 70 cities it tracks, the National Bureau of Statistics said on Monday (Jan 18). They dropped in 26 cities, compared with 27 in November, and were unchanged in five.
CIMB Group Holdings has cut 32 jobs in its Hong Kong investment banking and equities business on worsening capital market conditions, Malaysia's second-biggest bank by assets said on Monday (Jan 18).