Posts by Mark Darwin
Singapore stocks with regional exposure set to suffer spillover effects from Trump tariffs
[SINGAPORE] Singapore stocks with regional exposure could suffer “negative spillover” effects from slowing South-east Asia economies hurt by high Trump tariffs, CGS International analysts said. Among Asean countries, Cambodia, Vietnam and Thailand were slapped with the highest reciprocal tariffs by the US – at 49, 46 and 36 per cent respectively. The tariffs will hobble…
Read MoreCar dealer Vin’s Holdings gears up to raise net proceeds of S$4 million in Catalist IPO
[SINGAPORE] Car dealer Vin’s Holdings is looking to raise net proceeds of S$4 million in an initial public offering (IPO) to drive its expansion plans, as it issues 20 million placement shares at S$0.30 apiece. This will mark the first IPO in Singapore since last November. Based on the issue price, the company is expected…
Read MoreMorgan Stanley raising about US$680 million for Japan real estate fund: sources
[TOKYO] Morgan Stanley is raising about 100 billion yen (S$910.8 million) for a Japan-focused real estate fund, two people familiar with the matter said, highlighting investor interest in property as the world’s fourth-largest economy emerges from years of deflation and standstill prices. The Morgan Stanley-managed fund is due to close in June and expected to…
Read MoreSemiconductor, shipbuilding shares in Singapore slump on heat from Trump tariffs; glovemakers mixed
[SINGAPORE] Stocks in certain industries listed in Singapore suffered hits of varying severity on Friday (April 4) following US President Donald Trump’s “Liberation Day” tariffs. As at 10.52am, the Straits Times Index tumbled by 105.44 points or 2.7 per cent to 3,836.79 – the largest single-day drop since March 2020. On the Singapore Exchange,…
Read MoreGold falls as risk appetite dwindles on Trump’s tariff clarity
GOLD prices fell on Friday as investors reassessed their risk outlook in the wake of US President Donald Trump’s tariff measures, which have provided more clarity on market trends but raised concerns over economic slowdown. Spot gold was down 0.5 per cent at US$3,097.99 an ounce, as of 0305 GMT. Still, bullion was on track…
Read MoreAppLovin bids for TikTok in all markets outside of China
Marketing platform AppLovin said on Thursday it has submitted a bid for TikTok assets outside of China, ahead of the April 5 deadline set by the US President Donald Trump to find a non-Chinese buyer for the short video app used by 170 million Americans. AppLovin’s indication of interest is preliminary and there can be…
Read MoreFar East Orchard acquires Manchester purpose-built student accommodation site for £10.9 million
[SINGAPORE] Far East Orchard announced on Thursday (Apr 3) that it will be acquiring a purpose-built student accommodation (PBSA) site in Manchester, for £10.9 million (S$19.1 million). Located at 3 – 5 Plymouth Grove, the 275-year leasehold site, which was granted planning permission in April 2024, will be developed into a 239-bed PBSA property. It…
Read MoreTrump says ‘very close to a deal’ on TikTok
[MIAMI] President Donald Trump said his administration was “very close” to a deal to find a buyer for TikTok, which faces a US ban if not sold by its Chinese owner by the weekend. “We’re very close to a deal with a very good group of people,” Trump told reporters aboard Air Force One, adding…
Read MoreExxonMobil signals higher oil, gas prices will help boost Q1 profit
EXXONMOBIL signalled on Thursday that higher crude oil and natural gas prices as well as stronger oil refining margins will help lift its first-quarter earnings by about US$900 million compared to the previous quarter. The largest US oil major gets the bulk of its operating profit from producing oil and gas, and its earnings snapshot…
Read MoreUS: Wall Street opens sharply lower as Trump tariffs trigger recession fears
[NEW YORK] Wall Street’s major indexes plunged on Thursday (Apr 3), as President Donald Trump’s sweeping tariffs on major trade partners ignited fears of an all-out trade war and heightened the risk of a global economic recession. At 09.30 am the Dow Jones Industrial Average fell 1,111.20 points, or 2.66 per cent, to 41,103.63, the…
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