SGX:Z77

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Singapore Shares Open Flat as Investors Eye Local Earnings

Singapore shares opened flat in positive territory on Thursday as investors take into account the latest US inflation data and look ahead to earnings reports from local market heavyweights.The Straits Times Index opened marginally higher by 0.02%, or 1.09 points, at 5,721.840.The market opened on a positive note as US inflation data came in soft, in line with market forecasts. However, sentiment dampened shortly after the open as investors shifted focus to domestic earnings. Singtel (SGX:Z77) reported a 72% drop in fiscal first-quarter net profit to SG$818 million even as revenue rose 4.9% to SG$3.56 billion.Singtel fell nearly 2% in recent trade.

^STISGX:Z77

Asia3h ago

Singtel Fiscal Q1 Profit Plummets 72%; Revenue Edges Up

Singapore Telecommunications or Singtel (SGX:Z77) posted a 72% year-over-year decrease in net profit for the fiscal first quarter to SG$818 million from SG$2.88 billion.Underlying net profit, from which core dividends are paid, was up 21% on year to SG$831 million.Operating revenue rose 4.9% for the three months ended June 30 to SG$3.56 billion from SG$3.39 billion, according to a Singapore Exchange filing on Thursday.

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