Posts by Mark Darwin
Nippon Steel could face growth challenges after US Steel purchase blocked: analysts
JAPAN’S Nippon Steel may need to look at a revamp of its growth strategy after US President Joe Biden blocked its proposed US$14.9 billion acquisition of US Steel, but its share price could bounce back in the near-term, analysts said. Shares in Nippon Steel fell only slightly on Monday (Jan 6) in their first trading…
Read MoreChina’s Geely Holding targets over five million units of annual sales by 2027
CHINA’S Geely Holding Group on Sunday (Jan 5) said it aims to sell more than five million vehicles annually by 2027, a big jump from 2023, which it hopes to achieve by accelerating consolidation of its sprawling brands and improving efficiency. The goal represents about 79 per cent growth from 2023, when Geely Holding sold…
Read MoreGold steady as investors await US economic data
GOLD prices held steady on Monday (Jan 6) as investors awaited a slew of US economic data due out this week for guidance on the US Federal Reserve’s interest rate stance. Spot gold was steady at US$2,639.56 per ounce, as at 0034 GMT. US gold futures fell 0.1 per cent to US$2,652.00. Market focus is…
Read MoreSingapore shares close higher on Monday; STI up 0.5%
Across the broader market, gainers barely beat losers 263 to 258 after 945.4 million securities worth S$854.5 million change hands SINGAPORE stocks ended higher on Monday (Jan 6) despite declines across the region amid the Federal Reserve’s hawkish stance. The Straits Times Index rose 0.5 per cent or 20.01 points to 3,821.84. Across the broader…
Read MoreWhat if TikTok loses its fight and gets banned in the US?
TIKTOK is barreling towards a nationwide ban in the US. President Joe Biden signed bipartisan legislation in April 2024 designed to shut down the social media app in the US unless its Chinese owner gives up control. TikTok’s parent, ByteDance, was given until Jan 19, 2025, to find an American buyer and agree to a…
Read MorePBOC maintains support for yuan with fix stronger than key level
CHINA reaffirmed its support for the yuan after allowing the currency to slip below a key support level in the last session. The People’s Bank of China (PBOC) set its daily reference rate stronger than the closely watched line of 7.2 per US dollar. That helped ease concern that Beijing will allow a sharper depreciation,…
Read MoreSingapore hospital operator targets wealthy boomers in China
THE task of providing elderly care for the growing number of Chinese baby boomers may be a headache for Beijing, but a Singaporean hospital operator sees it as an evergreen opportunity. With more than 400 million Chinese set to enter their 60s over the coming decade, Singapore-based Perennial Holdings is betting on sound returns for…
Read MoreMiles reward cards are a lot of trouble, but they may be worth it if you don’t mind the math
If you are willing to dive into the different terms and conditions of these cards to earn higher rewards, richer benefits await I HAVE always relied on credit cards that provide cashback on my purchases. But lately, I noticed that cashback cards I’ve relied on have lost their lustre due to the addition of minimum-spend…
Read MoreSingapore bank earnings to continue riding higher-for-longer rates, wealth sector growth in 2025
SINGAPORE banks will likely post earnings growth in 2025, led by higher-for-longer rates and a strong wealth management business, analysts said. While the growth may be slower than previous years’, analysts expect that the banks’ clear dividend policies should keep them attractive to investors. The banks had a strong showing in 2024, as higher-for-longer rates…
Read MoreOil extends rally as bullish momentum overpowers China woes
Oil extended a rally that has brought it to the highest in more than two months as shrinking US crude stockpiles and a risk-on tone in broader markets overshadowed signs of a misfiring Chinese economy. West Texas Intermediate (WTI) climbed for the fifth straight session, approaching US$74 a barrel and settling at the highest closing…
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