Stocks to watch: UOB, SGX, Sembcorp

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 9).

UOB: The bank said on Tuesday that it will inject additional fresh capital of two trillion dong (S$104 million) into its Vietnam subsidiary, bringing its total charter capital of the unit to 10 trillion dong. To “reaffirm its strong commitment” to Vietnam, UOB Group will invest in a new headquarters building in Ho Chi Minh City’s business district. UOB Vietnam is also investing in digital technology and artificial intelligence to develop a new digital banking platform, which is set to launch this year. Shares of UOB were down S$1.10 or 3.3 per cent at S$32.13, before the announcement.

Singapore Exchange (SGX): The total securities market turnover value on the bourse increased 25 per cent year on year to S$29.7 billion in March, it said in its monthly market statistics report on Tuesday. March’s total market turnover volume fell 23 per cent to 26.8 billion shares, from 34.7 billion shares in the same month a year earlier. The securities daily average value reached a three-year high in March, rising 25 per cent on the year to about S$1.5 billion, while derivatives traded volume increased 14 per cent to 27.4 million contracts. The Straits Times Index rose above 4,000 for the first time on Mar 28. SGX also noted that small and mid-cap stocks continued to garner investor interest. The counter ended 2 per cent or S$0.23 higher at S$12.02, before the report’s release.  

Sembcorp Industries: Its wholly owned subsidiary Sembcorp Green Hydrogen India has entered into a joint venture (JV) agreement with Indian state-owned oil and gas company Bharat Petroleum. The JV aims to explore renewable energy and green hydrogen projects across India to support the country’s energy transition and development goals, said the company on Wednesday. It is not expected to have a material impact on Sembcorp Industries’ earnings per share and net tangible assets per share for the financial year ending December 2025. The counter closed on Tuesday 7.6 per cent or S$0.44 higher at S$6.23.