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ECONOMY | Staff Reporter, Singapore
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Daily Briefing: Sanctions bind growth of Singapore-North Korea trade; Stores eye profits during Trump-Kim summit

And here are the stocks to watch during the summit between the US and North Korea.

From Reuters:

Singapore prime minister Lee Hsien Loong said that the trade between Singapore and North Korea could grow if UN's sanctions against the latter are lifted.

"North Korean leader Kim Jong Un landed in Singapore on Sunday for a summit with U.S. President Donald Trump, which could end a nuclear stand-off between the old foes and transform secretive, impoverished North Korea.

Trump is due to arrive later on Sunday.

Singapore, which was North Korea’s seventh largest trading partner, suspended trade relations with it last year amidst surging tension over its nuclear and missile programmes."

Read more here.

From Bloomberg Finance:

Analysts are bullish that Singapore's tourism and consumer sector will get at least a medium-term lift thanks to publicity from the international media covering the Trump-Kim summit. Some stocks are also poised to benefit

"Shares of Shangri-La Asia Ltd., which trades in Singapore and Hong Kong, advanced last week as more summit details emerged, including Singapore’s public order establishing a special zone around its flagship hotel for the summit. The event is scheduled to take place at the Capella hotel in Sentosa, which also houses Genting Singapore Ltd.’s Resort World Sentosa integrated resort."

Read more here.

From CNBC:

Business in Singapore is heating up as the historic meeting between US president Donald Trump and North Korean leader Kim Jong Un approaches.

"Cash registers are ringing for some of them, too, as they take advantage of the hype around the summit, set to be held in the city-state on June 12.

Tech start-up Vybes hired Trump and Kim impersonators — American Dennis Alan and Australian-Chinese Howard X, respectively — for the weekend to promote its mobile app. At the event held in a downtown mall on Saturday, people were asked to download the app to pay for a selfie with one or both of them.

Hannes Santana, director of marketing at Vybes, said the company decided to bring the impersonators to Singapore because 'Trump and Kim are the biggest influencers on the planet.'"

Read more here.

Photo by Chensiyuan - Own work, CC BY-SA 4.0

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