PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: CapitaLand (CAPL SP) is to acquire Access Self-Storage for GBP 1bln
CapitaLand's acquisition of Access Self-Storage for GBP 1 billion signals a strategic expansion into the self-storage market, which may enhance its portfolio and revenue streams.
PBoC is expected to set USD/CNY mid-point at 6.8928 (prev. 6.8898)
France's far-right RN sees mixed results in local elections winning in smaller cities, but losing in big targets such as Marseille and Toulon, while RN ally Ciotti was elected Mayor of Nice, according to FT
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: CapitaLand (CAPL SP) is to acquire Access Self-Storage for GBP 1bln
Japan's top FX diplomat Mimura says will do utmost to respond to FX as needed, and that the government will take steps against FX moves at any time
South Korean March 1st-20th Exports rose 50.4% Y/Y, Imports rose 19.7% Y/Y and Trade Balance at provisional USD 12.13bln surplus
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TAIWAN
Formosa Petrochemical (6505 TT) - Co. and CPC Corp announced to raise gasoline and diesel prices by TWD 1.8 and TWD 1.4 per litre, respectively. (Taipei Times)
Other News - Taiwan has budgeted TWD 44.2bln (USD 1.38bln) over the next five years to cultivate its uncrewed aerial vehicle industry as it aims to become a major UAV player. (Taipei Times)
Data Recap
Taiwan Export Orders YY (Feb) 23.8% (Prev. 60.1%)
SINGAPORE
CapitaLand (CAPL SP) - Co. is to acquire Access Self-Storage for GBP 1bln. (The Times)
OCBC (O39 SP) - Co.'s SGD 71.6mln claim over a capsized oil rig failed at Singapore's highest court after a five-year legal battle. (Straits Times)
This move reflects the company's confidence in the sector's growth potential, especially amid increasing demand for flexible storage solutions. Investors should watch for any implications this deal may have on CapitaLand's future earnings and stock performance as it diversifies its assets.
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