PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Simple Mart is to acquire OKmart for TWD 125mln
Simple Mart's acquisition of OKmart for TWD 125 million signals strategic expansion within Taiwan’s retail sector, likely aiming to enhance market share amid evolving consumer preferences.
[MARKET UPDATE] Precious metals extend on record levels with spot silver topping USD 107/oz after gaining around 3.8%, while spot gold briefly climbed above USD 5050/oz for the first time
Express reports thousands of travellers have been forced to evacuate Miami Airport following reports of a security incident
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Simple Mart is to acquire OKmart for TWD 125mln
PBoC is expected to set USD/CNY mid-point at 6.9292 (prev. 6.9929)
US President Trump says administration is reviewing everything about the Minneapolis shooting and that immigration enforcement officers will at some point leave the area, according to WSJ
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TAIWAN
Simple Mart Retail Co. (2945 TT) - Simple Mart is to acquire OKmart for TWD 125mln. (Focus Taiwan)
Starlux Airlines (2646 TT) - Taiwan's Civil Aeronautics Administration is investigating a Starlux Airlines flight from Taichung to Kobe, Japan, after it experienced a hard landing on January 20th, and has grounded the crew pending the inquiry. (Focus Taiwan)
Data Recap
- Taiwan Industrial Production YY (Dec) 21.6% vs Exp. 12.0% (Prev. 15.8%, Rev. 16.4%)
- Taiwan Money Supply M2 YY (Dec) 5.0% (Prev. 5.1%)
SINGAPORE
StarHub (STH SP) - Co. CEO warned that ultra-low telco prices may hurt service quality and security. (Straits Times)
Ho Bee Land (H13 SP) - Co. is to acquire a development site in Queensland, Australia for AUD 318.5m, while it is to finance land acquisition via internal funds and bank borrowings. (Newswires)
This deal may reinforce Simple Mart's competitive positioning and could set a precedent for further consolidation within the industry, impacting investor sentiment in related equities.
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