Posts by Mark Darwin
Thai government suffers setback in bid to influence central bank
THE Thai government’s campaign to pressure the Bank of Thailand (BOT) to cut interest rates suffered a significant setback, with the Office of the Council of State effectively ruling that the official nominee to be chairman, former finance minister Kittiratt Na-Ranong, is not suitable. Without directly naming Kittiratt, Secretary-General Pakorn Nilprapunt said that “Mr K’s”…
Read MoreAsia: Japanese shares gain on weaker yen after Christmas break
JAPANESE stocks rose on Friday (Dec 27) on a weaker yen after a muted day on Wall Street following the Christmas holiday. Japan’s key Nikkei index was up more than 1 per cent in morning trade, after the yen hit 158.08 per US dollar on Thursday evening – its lowest level in almost six months. …
Read MoreBitcoin rally fizzles as token’s record-breaking year winds down
A BITCOIN rally is fizzling in the final days of a record-breaking year for the digital asset, as investors assess the remaining impetus from president-elect Donald Trump’s embrace of the cryptocurrency sector. The largest token changed hands at US$95,600 as at 8.45 am on Friday in Singapore, holding a retreat of almost 3 per cent…
Read MoreBank of Japan debated rate-hike timing, some called for near-term move, December summary shows
SOME Bank of Japan (BOJ) policymakers saw conditions falling into place for an imminent rate hike with one predicting a move “in the near future”, a summary of opinions at the bank’s December meeting showed, keeping alive the chance of a January hike. The BOJ kept interest rates steady at 0.25 per cent at this…
Read MoreRepo rates rise even after Federal Reserve tweak meant to dampen volatility
KEY rates tied to the US overnight funding market are rising, even after the Federal Reserve adjusted some of its tools in an effort to rein in volatility. The Secured Overnight Financing Rate – an important one-day lending benchmark linked to activity in the repurchase agreement market – jumped to 4.4 per cent as at…
Read MoreUS: Wall Street dips at open in holiday-thinned trading
Wall Street’s main indexes opened lower on Thursday (Dec 26) in light trading volumes after the Christmas holiday, as investors took stock of their portfolios and looked for a year-end boost from the so-called Santa Claus rally. The Dow Jones Industrial Average fell 95.2 points, or 0.22 per cent, at the open to 43,201.85. The…
Read MoreBitcoin gains on MicroStrategy’s plans to issue more shares
BITCOIN rose on Thursday (Dec 26) after the digital asset’s stockpiler MicroStrategy announced a plan to issue more shares, a move that would allow it to buy even more tokens. The digital asset was up 0.32 per cent at US$98,747 as at 11.30 am in Singapore, off its intraday high of US$99,876.70. A broader gauge…
Read MoreHonda, Nissan deal may be key in fight against China’s BYD
HONDA Motor absorbing Nissan Motor could give the two struggling Japanese brands the scale they need to take on China’s BYD, sales figures released on Wednesday (Dec 25) show. Honda, which earlier this week sketched out plans for a deal that amounts to an acquisition of Nissan, sold 3.43 million cars globally in the first…
Read MoreGodiva’s Turkish owner to sell marinas to focus on core business
YILDIZ Holding, the Turkish conglomerate behind Godiva chocolates and McVitie’s biscuits, will sell its marinas to focus on its core food and retail businesses. “At Yildiz Holding, we are prioritising food and retail as part of our ongoing strategy to grow organically and strengthen our global partnerships. As part of this focus, we have decided…
Read MoreGold edges higher in holiday trade; eyes on US Federal Reserve’s 2025 plan
GOLD inched higher on Thursday (Dec 26) in holiday-thinned trade, as investors focused on the US Federal Reserve’s interest rate strategy and anticipated tariff policies under president-elect Donald Trump, both of which could influence the metal’s direction in the coming year. Spot gold rose 0.2 per cent to US$2,619.59 per ounce, as at 0023 GMT. …
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