MARKET UPDATES :
- SINGAPORE shares ended 2.4 per cent lower on Tuesday with the Straits Times Index slipping 79.05 points to 3,215.09.Some 1.24 billion shares, valued at S$1.45 billion were traded. Gainers numbered 96 while losers numbered 337.
- Singapore Airlines Ltd’s Indian joint venture won a flying permit, paving way for it to start operations.The joint venture with India’s Tata conglomerate, which will operate under Vistara brand, plans to announce the sales, routes and schedules soon, it said in a statement.Vistara will fly Airbus A320-200 planes
- SINGAPORE Airlines’s (SIA) systemwide passenger carriage dropped 3.8 per cent year on year in November, against a 2.1 per cent reduction in capacity.Passenger load factor (PLF) declined 1.3 percentage points to 75.7 per cent, while the number of passengers carried fell 1.6 per cent to 1.52 million.
- SINOPIPE Holdings’ subsidiary, Aton Plastics (Chongqing), has secured a contract worth 30 million yuan (S$6.35 million) related to Chongqing Jiangbei International Airport’s rain drainage system. ton was alerted on Dec 2 that it was successful in its bid for the pipe and fittings procurement tender for the construction of a rain drainage system at the East Terminal and third runway at Chongqing Airport.
Shares of Google Inc. led tech stocks lower Tuesday, closing at a 14-month low following a price target cut at J.P. Morgan Chase that questioned the viability of its fundamentals.
Google’s GOOGL, -3.43% stock closed down 3.4% to $498.16, its lowest close since October 2013. J.P. Morgan analyst Doug Anmuth cut his estimates on Google and lowered his price target to $600, although a broader market selloff pushed tech stocks lower across the board.
A surprise overnight policy-rate hike by the Central Bank of Russia did little to stanch the ruble’s steep losses against the dollar in Tuesday trading.
The dollar fell against the yen, as unease over Russia and tumbling oil prices steered investors into the Japanese currency. The dollar USDJPY, +0.51% traded at ¥116.58, from ¥117.73 late Monday in New York.
The euro EURJPY, +0.36% rose against the dollar after U.S. housing starts data for November missed the expectations of economists polled by MarketWatch, and a gauge of eurozone business activity improved modestly in December.
The shared currency EURUSD, -0.15% was trading at $1.25, compared to $1.24 Monday.
The dollar gained against the krone USDNOK, +1.86% earlier in the session, only to surrender its gains and trade flat around 7.48 krone per dollar Tuesday afternoon.
The ICE U.S. Dollar Index DXY, +0.17% , a measure of the greenback’s strength against a basket of six trade-weighted currencies, was down 0.64% to 87.8940.
The pound GBPUSD, -0.17% climbed to $1.575, up from $1.56 on Monday, after data showed U.K. inflation fell to a 12-year low in November.
