Singapore shares opened lower today following losses in the global markets.

In early trade, the Straits Times Index (STI) was down 0.4 per cent to 3,206.93 points after 32.9 million securities changed hands in the broader market.

In terms of companies to watch for today, we have Keppel, after the conglomerate obtained a contract to design, build, own and operate a new large-scale district cooling system plant in the Jurong Lake District for 30 years, during which it expects to generate about S$950 million. 

Meanwhile, we now know that Grab is cutting 1,000 employees or 11 per cent of its workforce to enhance efficiency. 

Elsewhere, from NIO entering into a share subscription agreement with CYVN to China unveiling a 520 billion yuan tax break to boost the sales of EVs and YouTube reportedly launching its first official channel, international news continue to make the headlines. 

Not to mention – Elon Musk back in the headlines today – this time with India’s Prime Minister Narendra Modi. 

On Market View, the Drive Time team dived into the details with David Poh, Head of Investment and ESG Strategies, South Asia, Amundi.