Market View: Sakae’s executive chairman Douglas Foo to sell 20% stake for S$26.5m; GXS Bank raises deposit cap; ADB downgrading 2023 growth projection for the Southeast Asia to 4.6%; Talent war among banks, insurers in Hong Kong; US earnings season and sectors to watch.

Your Way Home with Hongbin Jeong · Jul 19, 2023 · 10m

Singapore stocks opened stronger today after global markets rallied overnight. In early trade, the Straits Times Index added 0.6 per cent after 46 million securities changed hands in the broader market. In terms of companies to watch, we have Sakae. The mainboard-listed restaurant operator today said its executive chairman Douglas Foo entered into a sale and purchase agreement with Makara Capital to sell a 20 per cent stake in the company for S$26.5 million. Meanwhile, from China possibly becoming the luxury industry’s next sore spot to Hong Kong’s talent war and the latest US earnings from…