Posts by Mark Darwin
STI on a roll, hits fresh 52-week high
THE Straits Times Index (STI) hit a 52-week high for the second day running, ending Wednesday (Sep 11) at 3,531.17, up 18.5 points or 0.5 per cent. Across the broader market, advancers beat decliners 287 to 235, with 875.3 million securities worth S$1.47 billion changing hands. The Singapore market bucked a regional trend of downward…
Read MoreHong Kong revises ‘market sounding’ rules to put burden on banks
Hong Kong’s securities watchdog plans to publish market sounding guidelines by year-end, revising its previous draft by cutting back on prescriptive rules following feedback from market participants, according to people familiar with the matter. The Securities and Futures Commission (SFC) guidelines will narrow their scope to mostly publicly listed securities and shift the burden for…
Read MoreGlobal bond yields fall to two-year low as slowdown fears grow
GLOBAL bond yields slid to a two-year low this week due to concern over slowing growth in major economies and increasing expectations for interest rate cuts. The average yield on a broad gauge of investment-grade government and corporate debt has fallen to 3.3 per cent, the least since September 2022, showed the Bloomberg Global…
Read MoreFintech platform Funding Societies obtains investment from Maybank
FUNDING Societies has obtained an undisclosed amount of strategic investment from Malaysia’s largest lender Maybank, said the digital finance platform on Wednesday (Sep 11). As part of the tie-up, Maybank will collaborate with Funding Societies to promote inclusivity and address funding gaps within the communities it serves. Launched in 2015, the finance platform offers financing…
Read MoreThailand’s EV makers seek to renegotiate government incentives as sales slow
AS SALES of electric vehicles (EVs) miss expectations in South-east Asia’s largest market, Thailand’s main group of manufacturers, comprising large Chinese and Japanese firms, seeks to extend production deadlines set in a government scheme of incentives. The scheme helped lure investment of more than US$1.44 billion in new production facilities from Chinese EV car makers,…
Read MoreHonda cuts jobs in China, suspends production at three plants
HONDA Motor is slashing jobs and has paused production at three of its plants in China, as it seeks to trim inventories and work on a broader shift in strategy in the world’s largest car market. The Japanese automaker offered redundancy packages to more than 2,000 workers at its joint venture with China’s state-owned Dongfeng…
Read MoreDigital wealth platform Arta Finance snags strategic investment from EDBI
Arta Finance provides a gateway to private market investments, enabling access to investment tools and financial solutions THE investment arm of the Singapore Economic Development Board, EDBI, has made an undisclosed strategic investment into digital wealth platform Arta Finance. The funds will be used to support the growth and development of the fintech company’s digital…
Read MoreBank of Japan policymaker signals readiness to raise rates if inflation on track
THE Bank of Japan will continue to raise interest rates if inflation moves in line with its forecast, policymaker Junko Nakagawa said on Wednesday, signaling that last month’s market rout has not derailed its plan to hike borrowing costs steadily. But the central bank must take into account the impact that such market moves could…
Read MoreTech firms halve business travel in 2023 but Alphabet, Apple lag: study
GLOBAL tech giants halved their business flight emissions in 2023 compared to 2019, but companies such as Apple and Google’s parent Alphabet are falling behind, risking a return to pre-pandemic levels, a Brussels-based NGO said in a report. Business travel last year approached pre-pandemic levels but trailed behind leisure trips, as geopolitical conflicts and a…
Read MoreUK property portal Rightmove rejects £5.6 billion takeover offer from Murdoch’s REA Group
NEWS Corp-backed property listing company REA Group said on Wednesday that Britain’s largest property portal Rightmove rejected its £5.6 billion (S$9.5 billion) buyout proposal. Rupert Murchoch-owned REA did not cite any reason as to why its takeover offer was rejected by Rightmove. Under the part cash, part scrip deal proposal, REA offered to pay a…
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