Market Snapshot
Singapore stocks opened higher on Thursday. STI rose 0.3%; Bumitama Agri, ThaiBev, Seatrium Ltd, UOB up around 1%; First Resources, Olam Group, StarHub down around 1%.
Stocks in Focus
Ultragreen.ai: The group on Wednesday said it is still focused on maintaining US market share despite a competitive environment. It is “actively engaging” with distribution partners in the US amid its broader growth strategy. This comes after pharmaceutical competitor Zydus Lifesciences secured regulatory approval for its indocyanine green dye in August. Its statement on Wednesday comes ahead of its third-quarter financial results, set to be released before market open on Oct 29. The stock ended flat at US$0.555 on Wednesday, prior to the statement.
SG Local News
Singapore Key Exports Rise 46.2% in August on AI Demand
The Republic’s key exports jumped 46.2 per cent in August, extending July’s revised 24.1 per cent rise and surpassing estimates. This was driven by a continued artificial intelligence-supported electronics surge, Enterprise Singapore data showed on Thursday (Sep 17).
This expansion exceeded the 35.1 per cent median forecast of private-sector economists in a Bloomberg poll.
Electronics exports grew 131.8 per cent in August, up from 112 per cent in the month before. This was supported by robust AI-related demand. Integrated circuits (90.9 per cent), disk media products (290.2 per cent), and PCs (237.9 per cent) contributed the most to the expansion.
Anthropic to Open Singapore Office in October, Hire Locally
Artificial intelligence (AI) company Anthropic will open an office in Singapore in October, its fifth in the Asia-Pacific region.
Its other offices in the region are located in Tokyo, Bengaluru, Seoul and Sydney.
The company, which developed the Claude AI model, said in a press release on Wednesday (Sep 16) that it will also be hiring for a "range of roles" in Singapore.
According to Anthropic's careers site, there are nine Singapore-based openings across five teams, including applied AI, finance and marketing.
