Posts by Mark Darwin
S-Reits fall despite US Fed’s 25-basis-point rate cut
SINGAPORE-LISTED real estate investment trusts (S-Reits) were a sea of red on Thursday (Dec 19) afternoon, even after the US Federal Reserve lowered interest rates by 25 basis points (bps). As at 3.50 pm, retail plays BHG Retail Reit and Lippo Malls Indonesia Retail Trust were the largest percentage decliners. BHG Retail Reit was down…
Read MoreHow Much Americans Spend on Fireworks
Ever wonder just how much folks in the U.S. splash out on fireworks? With the Fourth of July being a massive deal, it’s no surprise that fireworks sales are booming. From backyard sparklers to huge city displays, Americans love their fireworks. But how much do people really spend on these dazzling lights in the sky?…
Read MoreAnalysts optimistic on Asian equity, bonds despite US Fed signalling fewer rate cuts
Bond investors will benefit from less volatility due to shifting rate expectations, they say ALTHOUGH the “hawkish” projection of interest rate cuts by the US Federal Reserve for next year witnessed Asian markets – including Singapore’s – open in the red on Thursday (Dec 19), analysts remained optimistic on the outlook for both the Asia…
Read MoreLatest Singapore six-month T-bill cut-off yield inches up to 3.02%
THE cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) rose to 3.02 per cent, according to auction results released by the Monetary Authority of Singapore on Thursday (Dec 19). This was a slight increase from the 3 per cent offered in the previous six-month auction that closed on Dec 5. Demand for the latest…
Read MoreHong Kong central bank cuts interest rate, tracking US Fed move
THE Hong Kong Monetary Authority (HKMA) on Thursday (Dec 19) cut its base interest rate charged via the overnight discount window by 25 basis points to 4.75 per cent, tracking a move by the US Federal Reserve. “The pace of (US) interest rate cuts remains uncertain as it is dependent on US inflation and labour…
Read MoreChina banks raise mortgage rates for the first time since 2021
CHINESE banks raised new mortgage costs for the first time in three years, as narrowing margins are dragged down by a persistent property slump and slowdown in the world’s No 2 economy. The average mortgage rate for buyers’ first homes in 42 big cities inched up to 3.08 per cent in November from a record…
Read MoreJapan brokerages boost pay, perks for retirement-age staff
JAPAN’S biggest securities firms are raising pay and benefits for workers who reach retirement age, highlighting the urgency to retain talent in one of the world’s fastest-ageing countries. Workers who reach 60 or above typically face a steep drop in their salary when they are re-employed, and diminished roles such as creating documents. Now, they…
Read MoreChina’s LGFVs raise record dim sum debt as domestic curbs bite
CHINESE local government financing vehicles (LGFVs) are selling an unprecedented amount of offshore yuan bonds, skirting attempts made by Beijing to reduce their debt sales. LGFVs have raised 163.6 billion yuan (S$30.6 billion) via so-called dim sum notes this year, the most since Bloomberg began compiling relevant data in 1993. The average coupon has risen…
Read MoreYeo Hiap Seng lays off 25 employees as Oatly shuts its Singapore plant
YEO Hiap Seng will be laying off 25 employees as a result of Oatly’s decision to cease its manufacturing operations in Singapore. On Thursday (Dec 19), the beverage manufacturer said a total of 41 employees were directly involved in Oatly’s manufacturing operations. It noted that it has placed 16 employees in other roles within…
Read MoreMicroStrategy’s Michael Saylor wants more ‘intelligent leverage’
MICROSTRATEGY co-founder and chairman Michael Saylor says the dot-com-era software maker turned leveraged Bitcoin proxy plans to focus more on fixed-income securities for raising capital to buy the cryptocurrency, once its current fundraising programme is exhausted. Saylor stated the preference in a Bloomberg Television interview when asked about how he expects to fund future cryptocurrency…
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