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Market View: Singapore hikes ABSD for residential properties; UOB’s net profit up 67% yoy; CDL, UOL Group, GuocoLand and Oxley Holdings stocks tumble; NASDAQ gained on Meta’s earnings beat
Singapore shares fell this morning, following hikes in Additional Buyer Stamp Duty (ABSD) rates for residential properties. In early trade, the Straits Times Index (STI) fell 0.5 per cent to 3,276.95 points after 101.5 million securities changed hands in the broader market. In terms of companies to watch, we have UOB, after the bank reported net profit of S$1.5 billion for the first quarter ended March, up 67 per cent from Q1 2022. Meanwhile, investors in Singapore are also tracking property counters, which were largely in the red after authorities raised the ABSD rate for foreigners buying…
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