Market View: SIA’s record net profits in its 76-year history; Shell to use AI in deep sea oil exploration; UN projects global economic growth at 2.3% in 2023; Biden cancels visit to Australia to deal with US debt ceiling stalemate

Your Way Home with Hongbin Jeong · May 17, 2023 · 11m

Singapore stocks were down this morning, tracking overnight losses globally. In early trade, the Straits Times Index (STI) was down 0.3 per cent to 3,205.35 points after 69 million securities changed hands in the broader market. In terms of companies to watch, SIA continues to fly high. The group posted its highest full-year net profit in its 76-year history to S$2.2 billion for FY2022/23. That’s to be compared against a net loss of S$962 million in FY2021/22. Elsewhere, unease over the slow progress of US debt talks further dampened sentiment in Asia markets today. With US President Joe…