Market View: Singtel’s Q1 net profit down 23.1% yoy; China’s smaller-than-expected rate cut, Impact on Chinese blue chips; Citigroup reportedly mulling plan to disband its Institutional Clients Group; Jackson Hole Symposium, Fed Chair Jerome Powell to speak

Your Way Home with Hongbin Jeong · Aug 21, 2023 · 8m

Singapore stocks opened weaker today after global markets ended the week mixed. In early trade, the Straits Times Index (STI) headed down 0.6 per cent to 3,155.93 points after 181.9 million securities changed hands across the broader market. In terms of companies to watch for today, we have Singtel, after the telecommunications operator posted a net profit of S$483 million for the first quarter ended June. Elsewhere, from China’s smaller than expected cut to lending rates to a media report of Citi considering a plan to disband its Institutional Clients Group and what to expect at the Jackson…