Singapore shares opened higher today after European markets ended mixed amid concerns over the US debt deal and rate hike possibility.

In early trade, the Straits Times Index (STI) was up 0.1 per cent to 3,197.69 points after 41.6 million securities changed hands in the broader market. 

In terms of companies to watch for today, we have Sats. The in-flight caterer and ground handler reported earnings of S$6 million for the second half-year ended March 2023. 

That’s a 16.7 per cent decrease year on year, and comes despite a 57.1 per cent increase in revenue. 

Elsewhere, all eyes are on Washington with the House set to vote on the US debt ceiling deal to prevent a painful default by the world’s largest economy. 

Aside from that, we have yet more corporate news for you ranging from BYD’s bid to supply EVs to Indonesia’s largest taxi operator to the trading of three new Thailand blue-chip names on the Singapore stock exchange. 

On Market View, the Drive Time team unpacked these developments with Shekhar Jaiswal, Head of Equity Research, RHB Bank Singapore.