After falling over 4 per cent in the first two trading days of the week, the Singapore market regained some ground as investors picked up some bargains. The market rose 30.29 points or 0.99 per cent to 3,091.78.
Resale prices of non-landed private residential properties edged up 0.3 per cent in July compared to June, according to flash estimates from SRX Property on Thursday. Year on year, prices have dropped 0.9 per cent from July last year.
Singapore Telecommunications Ltd reported a 12.8 per cent rise in its first-quarter net profit, helped by improved performance in Australia and contributions from its regional mobile associates.
Genting Singapore's second quarter earnings swung into the red with a net loss of S$16.9 million to ordinary shareholders, from net profit of S$102.3 million a year ago. Including S$29.4 million apportioned to holders of perpetual securities, net profit for the second quarter plunged 91 per cent to S$12.5 million from S$131.7 million a year ago.
Property heavyweight City Developments Ltd (CDL) reported on Thursday that its net profit for the second quarter to June 30 dipped 3.2 per cent to $133.5 million despite strong prevailing headwinds. Revenue fell by 4.2 per cent to $824.9 million. Earnings per share eased 3.4 per cent to 14 cents from 14.5 cents a year ago.
Singapore Airlines Ltd said on Thursday it had scrapped talks with South Korea's Jeju Air on buying a stake in the budget airline. Singapore Airlines did not give a reason for its decision.
China's central bank has stepped up intervention in yuan trading, ordering state banks to buy yuan at designated rates on behalf of the monetary authorities, among other emergency measures, banking sources with direct knowledge of the matter told Reuters on Thursday.
Greece's economy unexpectedly returned to growth in the second quarter despite political turmoil and the threat of a Greek euro zone exit, data showed on Thursday. In a boost for Prime Minister Alexis Tsipras's leftist government, revised data also showed that Greece posted no growth or decline in economic output in the first quarter instead of a previously reported 0.2 per cent contraction.