12:24 PM
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Morning Updates of July6, 2012:
* Singapore Shares Open Lower with STI down 7.75 points to 2,963.72. Volume was 95.2 million shares worth S$49.1 million!
* Singapore Exchange says ready to trade yuan securities. It is ready to quote, trade, clear and settle securities denominated in the Chinese yuan, seeking to capitalise on the rapid growth of the offshore yuan market.!
* Malaysia share prices opened higher on Friday with the Kuala Lumpur Composite Index up 2.29 points to 1,616.72. Shares have gained 0.14 per cent since its open at 1616.03 this morning!
* HK shares were set for a weaker start on Friday, dragged down by financials after China's second interest rate cut in two months raised worries about economic growth and further erosion of bank net interest margins. It was set to open down 0.28 per cent at 19,752.83!
* Singapore will release advance GDP estimates for the second quarter of 2012 on July 13, the Ministry of Trade and Industry said on Friday!
* Bank of America Merrill Lynch said the second quarter flash estimates for the Southeast Asian city-state's gross domestic product will likely show a mild quarter-on-quarter contraction of 1.1 per cent on a seasonally adjusted and annualised basis!
* Reliance Comm unit files prelim prospectus for Singapore IPO. The undersea cable unit of India's Reliance Communications Ltd on Thursday filed a preliminary prospectus for a planned initial public offering in Singapore, the company said, in a deal that could raise about US$1 billion.
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