Posts by Mark Darwin
Europe: Shares log third week of declines on China, tariff jitters
EUROPE’S benchmark Stoxx 600 logged its third consecutive week of declines on Friday (Nov 8), hurt by underwhelming stimulus measures from China as well as concerns about tariffs under a Trump presidency hurting economic growth. The pan-European Stoxx 600 closed down 0.6 per cent, with China-exposed sectors such as miners and luxury losing more than…
Read MoreTesla hits US$1 trillion market value as Musk-backed Trump win fans optimism
TESLA’S market value breached the US$1 trillion-mark in a sharp rally on Friday (Nov 8), on growing bets of a favourable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6 per cent to a more than two-year…
Read MoreTikTok hopes for lifeline from President-elect Trump, who once favoured ban
SOME TikTok staff and creators, bracing for a potential ban of the popular video-sharing platform as soon as January, have come to see President-elect Donald Trump as a possible saviour. Trump, who has suggested publicly that he thinks a TikTok ban is a bad idea, could try to thwart a law signed by President Joe…
Read MoreUS: Wall St opens flat as rally from Trump win, rate cut cools
WALL Street opened on a muted note on Friday (Nov 8), as a rally powered by a sweeping Trump win and an expected interest-rate cut paused, with the main stocks indexes set for strong weekly gains. The Dow Jones Industrial Average rose 39.2 points, or 0.09 per cent, at the open to 43768.53. The…
Read MoreMake new friends and boost hiring: How China’s chip industry plans to deal with Trump
CHINA’S semiconductor industry is readying itself for four more combative years under Donald Trump as US president by ramping up purchases of foreign chipmaking equipment and looking out for opportunities to hire overseas talent and forge new alliances. Among the strategies being considered are the pursuit of closer ties with countries and firms that may…
Read MoreTSMC to suspend production of advanced AI chips for China from Nov 11, FT reports
TAIWAN Semiconductor Manufacturing Company (TSMC) has notified Chinese chip design companies that it is suspending production of their advanced AI chips from Nov 11, Financial Times reported on Friday (Nov 8), citing three people familiar with the matter. TSMC has told Chinese customers that it will no longer manufacture AI chips at advanced process nodes…
Read MoreStamford Land returns to black with H1 profit of S$15.2 million
This is largely due to the absence of a S$71.2 million fair value loss on investment property recorded a year ago PROPERTY company Stamford Land on Friday (Nov 8) posted a net profit of S$15.2 million for the six months ended Sep 30, reversing into the black from a loss of S$14.6 million in the…
Read MoreSingapore Airlines Q2 profit falls 59% to S$290 million on weaker operating performance
NATIONAL carrier Singapore Airlines on Friday (Nov 8) reported net profit of S$290 million for the second quarter ended Sep 30, sliding 59 per cent from S$707 million in the corresponding year-ago period. This is despite revenue for the period adding 2 per cent to S$4.8 billion, from S$4.7 billion a year ago. The lower…
Read MoreRichemont profit slumps on weak China demand for luxury watches
RICHEMONT reported a slump in profit in the first half as the Swiss luxury group’s watchmaking division suffered from cooling demand in China. The Cartier owner reported 2.2 billion euros (S$3.1 billion) in operating profit as sales at constant currencies were stable for the six months through September. Analysts expected operating profit of 2.47…
Read MoreUS Fed’s rate cut brings ‘relief’ to Asian markets, but long-term uncertainty under Trump remains
Observers expect volatility in the markets until there is greater clarity on Trump’s policies THE latest rate cut by the US Federal Reserve is expected to bring “some relief” to Asian and Singapore equity markets, with upsides for the property and consumer sectors. However, the longer-term outlook for markets in view of a Donald Trump…
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