Posts by Mark Darwin
Singapore shares and STI close higher on Monday, mirroring regional indices
Across the broader market, advancers outnumber decliners 377 to 181 after 1.1 billion shares worth S$1.4 billion change hands [SINGAPORE] The Straits Times Index (STI) closed higher, mirroring most regional indices on Monday (Apr 14). The STI closed up 1 per cent or 36.38 points to 3,548.91. Across the broader market, advancers outnumbered decliners 377…
Read MoreCiti transformation pays off amid tariff troubles, with room for optimism
[SINGAPORE] In 1902, Citi established an office in Singapore. Fast forward 123 years, Citi has thrived and grown along with Singapore and has a much larger presence here. But with US President Donald Trump imposing hefty tariffs right, left and centre, will banking and trade activities be derailed? When asked for his reaction to…
Read MoreThese China sectors and stocks are bucking the trend amid market volatility
[SINGAPORE] Global markets have been nothing but volatile on the back of tariff-induced swings – but China stocks were an outlier last week. From Apr 7, the Hang Seng Index and the CSI 300 Index were steadily rising even as other markets in the region were still volatile. The indices were up around 2.2 per…
Read MoreOCI is said to put brakes on Malaysia IPO plan on market turmoil
The polysilicon industry has struggled with a huge surplus, with far too much capacity built relative to demand, resulting in prices of the solar grade material tumbling more than 80 per cent over the past two years [KUALA LUMPUR / HONG KONG] OCI Holdings’ financial advisers have paused work on the potential listing of its…
Read MoreIndonesia’s foreign reserves hit record high despite rupiah rout
Domestic concerns, such as the fiscal outlook and slowing economic growth amid President Prabowo Subianto’s shuffling of policy priorities, are also weighing on market sentiment [JAKARTA] Indonesia’s foreign exchange reserves gained US$2.6 billion last month to reach another record high even as the global markets turmoil battered the rupiah. The stockpile climbed to US$157.1 billion…
Read MoreGold dips as Trump eases trade tensions with tariff exemptions
[BENGALURU] Gold prices dropped on Monday (Apr 14) as US President Donald Trump eased trade tensions by granting tariff exemptions on smartphones, computers and other electronics primarily imported from China. Spot gold was down 0.4 per cent at US$3,223.67 an ounce, as at 0036 GMT. Bullion hit a record high of US$3,245.28 in the previous…
Read MoreOng Beng Seng to step down as managing director of Hotel Properties
[SINGAPORE] Hotel Properties Limited (HPL) announced on Monday (Apr 14) that managing director Ong Beng Seng will be stepping down from the position to devote more time to manage his medical condition. The company said in a bourse filing that Ong, 79, will not be putting himself up for re-election as a director as well.…
Read MoreStocks to watch: Olam, EC World Reit, Hotel Properties Limited
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Apr 14). Olam: The agribusiness giant on Monday said it expects to fund the reorganisation of its business using divestment proceeds from the sale of both its remaining 64.6 per cent Olam Agri stake as well as its assets and businesses…
Read MoreAsia, Europe, gold, private markets: Where investors can seek refuge as US exceptionalism is cast into doubt
[SINGAPORE] The turmoil and volatility in global financial markets, where trillions of dollars were wiped off US equities since “Liberation Day”, are leading investors to lean towards the idea that American exceptionalism may be nearing its end. Earlier, the shock that Chinese startup DeepSeek delivered in January led the likes of JPMorgan Chase to issue…
Read MoreApple was on brink of crisis before Trump tariff concession
[LOS ANGELES / WASHINGTON] Apple has managed to dodge its biggest crisis since the pandemic – for the moment, at least. Donald Trump’s 125 per cent tariffs on goods produced in China threatened to upend its supply chain as seriously as the Covid snarls did five years ago. On Friday (Apr 11) night, the US…
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