Singapore Stocks Market Update

Singapore Stocks Down Today

Singapore shares fell to a one-week low on Tuesday, largely in line with regional markets, while the world's second-largest rig builder Sembcorp Marine Ltd was among the big-cap stocks that dropped the most.

By 0500 GMT, the Straits Times Index (STI) was down 1.3 percent, or 37.53 points, at 2,954.27. Some 765.6 million shares worth S$986.7 million were traded, compared with 750.1 million shares worth S$391.4 million by the same time on Monday.

SGX Looking for New Place

Currently, SGX occupies about 170,000 sq ft of office space at the SGX Centre.

Although its lease at the SGX Centre in Shenton Way will not expire until 2014, the Singapore Exchange (SGX) is said to be already looking for a new address. According to The Staits Times, the bourse operator has apparently surveyed Asia Square, a Grade A building located in Marina View which also houses Google and Citi. However, they are still in the negotiation stage and nothing has been finalised.

SGX's change of address will likely excite landlords in the financial district, where prime office rents and occupancy are sliding, according to property analysts.

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