Market View: Oil surges above US$100 again as Iraq halts ports, IEA release fails to quell rally; Asian markets skid on rising oil prices; SGX’s February performance hits highest securities daily average value in six years; Nissan, Uber, Wayve unveil robotaxi tie-up; China reportedly orders immediate ban on March fuel exports; Del Monte Pacific, UI Boustead Reit to watch

Singapore shares dipped today as investors closely monitor developments out of the Middle East. The Straits Times Index was 0.46% lower at 4,841.35 points at 2.19pm Singapore time, with a value turnover of S$1.15B seen across the broader market. In terms of counters to watch, we have Del Monte Pacific. The food and beverage group posted yesterday a net profit of US$10 million for the three months ended Jan 31, over three times that of the US$2.5 million in the same year-ago period. Elsewhere, from how the Singapore Exchange announced that its February performance had the highest securities daily average value (or SDAV) since 2020, to how Brent crude surged above US$100 a barrel again as Iraq stopped operations at its oil ports after two tankers were targeted, more financial headlines remained in focus. On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital. See omnystudio.com/listener for privacy information.