Posts by Mark Darwin
US dollar roars with Bitcoin as Trump trades shine; euro and yuan slump
THE US dollar rose to a four-month peak versus major peers on Tuesday (Nov 12), while Bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished at a seven-month trough and the yuan slumped to its lowest in more than three…
Read MoreSea remains in the black, posts US$153.3 million Q3 profit
GAMING and e-commerce player Sea reported a US$153.3 million net profit for Q3 2024, reversing from a US$144 million loss a year ago, and marking a second consecutive quarter in the black. The figure beat estimates from a Bloomberg poll of 13 analysts, which projected a net profit of US$128.6 million. Revenue for the quarter…
Read MoreBukit Sembawang reports surge in H1 FY2025 earnings to S$62.9 million
PROPERTY developer Bukit Sembawang reported a 149 per cent surge in H1 FY2025 ended Sept 30 earnings to S$62.9 million from S$25.2 million the previous year. In a bourse filing on Tuesday (Nov 12), Bukit Sembawang posted a 23 per cent rise in H1 FY2025 revenue to S$324 million from S$264.3 million in H1 FY2024. …
Read MoreSingapore stocks fall as US dollar strength weighs on Asian stock indices; STI drops 0.8%
The trade-weighted US dollar index is at its highest since Jul 2, and up 4.9% in this quarter SINGAPORE stocks fell on Tuesday (Nov 12) as regional sentiment weakened after the US dollar strengthened overnight. The benchmark Straits Times Index (STI) fell 0.8 per cent or 27.99 points to 3,711.48. Across the broader market, losers…
Read MoreGerman chemicals giant Bayer cuts key target amid weedkiller woes
GERMAN chemicals giant Bayer cut its forecast for 2024 operating earnings on Tuesday (Nov 12), after a poor performance in its agrochemicals division hit quarterly profits. The group reported a net loss of about 4.2 billion euros (S$6 billion) in the third quarter, with revenues in its agricultural unit down 3.6 per cent. A heavy…
Read MoreSoftBank swings back to quarterly profit with 1.18 trillion yen gain
JAPAN’S SoftBank Group swung to a 1.18 trillion yen (S$8.7 billion) net profit in the three months to September, as the tech giant benefitted from higher share prices of listed companies in its Vision Fund investment vehicles. The results handsomely beat expectations for a 287 billion yen profit based on the average of four analyst…
Read MoreAirbus says China certification for A330neo jet progressing smoothly
THE head of Airbus China said on Tuesday (Nov 12) that Chinese certification of its A330neo jet was going smoothly and the first delivery of the widebody model in the country could come in 2025. Airbus China CEO George Xu also told reporters at China’s biggest air show in Zhuhai that the European planemaker expected…
Read MoreBaidu bolsters AI lineup with text-to-image generator, no-code app builder
CHINA’S Baidu unveiled a slew of new applications for its artificial intelligence (AI) technology on Tuesday (Nov 12), including a text-to-image generator and a tool that enables users to develop software applications without coding expertise. The country’s leading search engine company is among tech firms shifting their focus to the commercialisation of large language model…
Read MoreInvesting in markets is best way to fight inflation, says new Saxo Singapore CEO
SAXO, a global investing and trading firm, has appointed Mahesh Sethuraman as Singapore CEO to take the helm of its operations here. Concurrently, the Copenhagen-headquartered firm has appointed Damian Hitchen as regional head of Asia-Pacific (Apac) and Middle East and North Africa (Mena) regions. Having led Saxo’s Mena business since 2021, he will now develop…
Read MoreSingapore shares retreat at Tuesday’s open; STI down 0.2%
SINGAPORE stocks started trading in negative territory on Tuesday (Nov 12) morning, despite global markets logging overnight gains. As at 9.01 am, the Straits Times Index (STI) opened 0.2 per cent or 8.88 points lower at 3,730.59. Across the broader market, gainers outnumbered losers 60 to 49 after 48.2 million securities worth S$63 million changed…
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