SINGAPORE stocks opened slightly weaker on Friday, with the Straits Times Index inching down 0.07 per cent or 2.27 points to 3,227.99 as at 9.02am.
On the Singapore bourse, gainers outnumbered losers 52 to 38, after about 22.7 million securities worth S$48.7 million changed hands. Over in New York, the gains came after US data showed better-than-expected housing construction, and a dip in US jobless claims, contributing to positive investor sentiment. The Dow added 0.8 per cent, and the tech-rich Nasdaq Composite Index advanced 1.0 per cent.
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Stocks futures subdued as trade deal hopes offset new China tariffsU.S. stock index futures were muted on Friday, as expectations of a deal during the current round of U.S.-China trade talks blunted the impact ...
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Best World has until Monday morning to respond to SGX queriesBEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.The extension from the initial Friday deadline was granted at the company's request. It was given so that the company can 'prepare and approve an announcement that will fully address the issues raised in the queries', Best World said in a statement on Friday night.SGX's regulatory arm had asked Best World on Thursday: 'Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.''Please state the board's basis for the statement that the primary import agent is an independent party of the group,' it added.Also, SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.It also asked when the group commenced dealings with Changsha Best.On Thursday morning, Best World had vouched for Changsha Best's independence while confirming that it was indeed Best World's primary import agent, in response to a professional shortseller Bonitas Research.But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company's China sales.On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Europe: stocks rise at open[LONDON] European stock markets rose in opening trade on Friday despite news that US President Donald Trump has pulled the trigger on a steep increase in tariffs on Chinese goods. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »