Morning Highlights

There Are No Quick Picks For Today

Singapore Market started weak in the first few minutes of trading, with STI down 15.28 points to open at 2737.32…

  • Singapore will be releasing its May PMI tomorrow.

Lookout for Economic News Release For Today:

  1. China May PMI Manufacturing numbers
  2. Euro-zone April’s Unemployment Rate
  3. U.S. May’s ISM Manufacturing and Dallas Fed Manufacturing Activity

Corporate Announcements

  1. Keppel has despatched the Introductory Document for the listing of K-Green Trust on the Main Board of SGX, in respect of the proposed distribution in specie of units in K-Green Trust.
  2. Midas’s joint venture company was awarded a RMB 1.14bn contract by the Shanghai Rail Transport Line 13 Development Co.

News Updates:

  1. South Korea's Consumer Price Index rose a slower than expected 2.7% in May from a year earlier, but picked up from a 2.6% rise in April; May exports beat forecast, up 41.9% yoy
  2. South Korea's manufacturing sector maintained expansion in May but the pace hit a five-month low, while prices of manufactured goods rose by the fastest pace in 18 months, a private survey showed on Tuesday.
  3. GM to invest US$384.6 million more in Brazil factories.
  4. ECB warns of more bank loan losses, ups bond purchases.

Afternoon Highlights

Index slid lower in the afternoon session.

  • Swiber broke down 0.93
  • SGX broke down 7.18

News Updates:

  1. Australia keep cash rate unchanged at 4.5%
  2. BP's London-listed shares drop 12% after 'top-kill' procedure fails.
  3. Singapore Commodity Exchange (SICOM) and the Tokyo Commodity Exchange (TOCOM) said they have signed a Heads of Terms agreement on Tuesday to develop cross-listing collaboration and enhance liquidity of the Singapore and Japan commodity markets.
  4. China's official purchasing managers' index (PMI) fell to 53.9 in May from 55.7 in April; marked the 15th straight month that the official PMI has stood above the threshold of 50 that demarcates expansion from contraction
  5. Thai consumer prices up 3.5% in May

In Summary,

Index shed 37.16 points to close at 2715.44, with 1.0758 billion traded. Most of the stock markets across the region extend losses after two gauges of China's factory activity suggest a slowdown.