PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Hongkong Land (HKL SP) acquires a 10.8% stake in Suntec Real Estate Investment Trust (SUN SP) for SGD 541mln
TAIWAN
China Steel Corp (2002 TT) - Co. raised prices for all products for domestic delivery next month and next quarter by TWD 1,000-1,200, marking the largest increase in almost 17 months, citing higher material costs due to the Middle East conflict and improving steel demand. (Taipei Times)
Materials Analysis Technology Inc (6223 TT) - Co. said silicon photonic-related analysis services revenue is expected to rise 50% this year, driven by a shift to optics-based packaging solutions for AI data centres. (Taipei Times)
TSMC (2330 TT) - Co. is said to raise prices for advanced nodes amid tight capacity. (Newswires)
Other News - Taiwan’s Central Bank left rates unchanged at 2.00%, as expected. (Newswires)
SINGAPORE
Suntec Real Estate Investment Trust (SUN SP) - Hongkong Land (HKL SP) acquires a 10.8% stake in Suntec for SGD 541mln as it looks to expand its presence in Singapore’s prime commercial sector. (Business Times)
Hongkong Land's acquisition of a 10.8% stake in Suntec Real Estate Investment Trust for SGD 541 million signals its strategic intent to bolster its position in Singapore's competitive commercial real estate market. This move likely points to a long-term outlook on demand for prime office space, reflecting confidence in the sector despite potential headwinds.