Market View: ST Engineering and OCBC; Olam Group’s 88.8% yoy decline in net profit; Singapore’s competition watchdog on Grab’s proposed purchase of Transcab; Country Garden suspending onshore bond trading, China’s shadow banking industry; SK Telekom invests in Anthropic; Rakuten Group shares surge on narrowing losses at mobile unit; Tesla cuts price of two Model Y vehicles in China

Your Way Home with Hongbin Jeong · Aug 14, 2023 · 9m

Singapore stocks opened lower today amid a mixed performance in global markets. In early trade, the Straits Times Index (STI) was down 1.2 per cent to 3,253.47 points after 53.4 million securities changed hands in the broader market. In terms of companies to watch for today, we have Olam Group, after the agri food giant posted on Friday an 88.8 per cent decline in net profit to S$48 million, due to a one-off exceptional loss on lower almond yields in Australia. Elsewhere, from China’s Country Garden suspending onshore bond trading to Rakuten Group’s shares surging on narrowing losses at its…