Posts by Mark Darwin
US: Wall St jumps at open after selloff on Fed rate cut caution
WALL Street’s main indexes broadly rose at the open on Thursday (Dec 19), a day after the Federal Reserve’s projections of fewer-than-expected interest rate cuts and higher inflation next year wrong footed some investors and pummeled US stocks. The Dow Jones Industrial Average rose 137.3 points, or 0.32 per cent, at the open to 42,464.13. …
Read MoreIReit Global inks lease agreement with second hospitality company in less than a month
EUROPE-focused real estate investment trust IReit Global has signed a 20-year agreement with hospitality operator Stayery, which will be leasing about 10,600 square metres (sq m) of gross floor area at its office property in Berlin. Taking up about 12 per cent of the net lettable space, Stayery will be operating about 255 guest rooms…
Read MoreSaudi Global Ports, co-owned by PSA, taps banks for up to US$1 billion IPO: sources
STATE-backed Saudi Global Ports has picked banks including Goldman Sachs Group and HSBC Holdings to help arrange a planned Riyadh initial public offering (IPO), according to people familiar with the matter. The port operator owned by the kingdom’s Public Investment Fund (PIF) and Singapore’s PSA International could be listed as early as next year, according…
Read MoreDisappointment over Spotify’s flat year-end wrap is a warning that AI is not everything
Several listeners have taken to social media to complain about how unrelatable and underwhelming this year’s edition was THERE was much excitement over the annual release of users’ listening summaries by music streaming service Spotify at the end of the year. But this quickly fell flat, when it became apparent to users that the information…
Read MoreS-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…
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