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Share Price Of Seatrium On The Verge Of Rebound Or More Consolidation To Come? (Money FM)

Mar 28, 2024

On Market View today: US PCE index expectations; Protracted property downturn in China eats into balance sheet of state banks; Impact of Baltimore’s Francis Scott Key Bridge collapse on insurance premiums and shares of shipping counters; Amazon investing an additional US$2.75b in Anthropic; ESR Logos Reit, Banyan Tree and sustainability-linked loans; Seatrium’s trading halt, former executive charged with paying bribes to further business interests in Brazil

Singapore shares entered the morning session barely moved, as gains from travel and hospitality-related index counters clashed with a weaker showing from banks.

In early trade, the Straits Times Index (STI) edged up 0.03 per cent to 3,252.69 points after 35 million securities changed hands in the broader market.

In terms of companies to watch, we have ESR-Logos Reit, after its manager said today that it obtained a S$200 million sustainability-linked unsecured revolving credit facility agreement.

Elsewhere from China’s protracted property downturn eroding the balance sheets of state banks to the monetary cost of the Baltimore bridge collapse to insurers and the impact on shipping lines – more international headlines are in focus.

Also on deck, Amazon is investing an additional US$2.75 billion in AI startup Anthropic.