hero-banner-1- Crop & Resize

press, news and industry

UOB’s Q3 net profits; Singapore retrenchments hit 4,100 in Q3; CapitaLand Integrated Commercial Trust, Mapletree Logistics Trust, Mapletree Industrial Trust (Money FM)

Oct 26, 2023

Singapore stocks opened softer today following overnight losses on Wall Street as traders reacted to mixed earnings.
In early trade, the Straits Times Index (STI) headed down 0.3 per cent to 3,070.14 points after 55 million securities changed hands in the broader market.
In terms of companies to watch, we have UOB. The bank reported net profit of S$1.38 billion for the third quarter ended September.
That’s down 1 per cent from S$1.4 billion in Q3 FY2022, after accounting for one-off expenses related to the acquisition of Citigroup’s Malaysia, Thailand and Vietnam consumer banking business.
Elsewhere, from quarterly Singapore retrenchments at its highest since Q4 2020, China’s new bonds to help economic recovery, and Facebook parent Meta warning about the outlook for next year, more macroeconomic and corporate headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Terence Wong, CEO, Azure Capital.