Singapore Stocks Slip Amid US Inflation Wait
Singapore stocks saw a decline as investors waited for key US inflation data that could impact interest rate expectations.
The Straits Times Index closed down 0.7% after trading in a range throughout the session.
Some individual names moved on their own news: Zixin Group jumped over 4% after proposing bonus warrants, while UMS Integration fell nearly 3% after announcing a placement that could increase shares available for trade.
Keppel DC REIT saw a slight gain after its Japan-based subsidiary secured a ¥15.5 billion consumption tax loan and issued ¥24 billion of green bonds.
The issuance of green bonds by Keppel DC REIT sent a refinancing message to markets, as REITs live or die by refinancing risk. By raising fresh funding at the asset level, Keppel DC REIT reduces uncertainty around when and how it refines its debt, making future payouts look steadier.