Posts by Mark Darwin
Australia’s REA Group considers buying UK-based Rightmove
AUSTRALIAN real estate firm REA Group said on Monday (Sep 2) it is considering acquiring London-listed peer Rightmove via a possible cash and share offer. REA Group, majority-owned by News Corp, said it had not yet approached or had any discussions with Rightmove on a potential offer. Rightmove, Britain’s largest property portal, had a market…
Read MoreUber plans to step up fight with larger rival Kakao in South Korea
UBER Technologies aims to expand its South Korean business and take the battle to dominant domestic rival Kakao, highlighting the country’s importance as one of the US company’s few remaining Asian markets. Making his first official business trip to the Asian nation, chief executive officer Dara Khosrowshahi talked about how Uber wants to add more…
Read MoreA new way of betting on tech stocks is emerging in Hong Kong
THERE’S a new way to bet on some of the most watched Hong Kong stocks. The city’s bourse is launching on Monday (Sep 2) weekly options on the Hang Seng Tech Index, which tracks stocks including Alibaba Group Holding and JD.com that also trade in the US. With many of its e-commerce giants losing shimmer…
Read MoreHarris or Trump, America’s election is sweet music for stocks
AN ASSASSINATION attempt; a late candidate swap; campaign hacking; flip-flopping polls – what else awaits in 2024’s wild US election? Investors worldwide fear the worst. But there is good news: Stocks likely will not suffer the drama. Falling election uncertainty should power global stocks till the year end, lifting the Straits Times Index (STI). In…
Read MoreCanadian dollar notches its biggest monthly advance this year
THE Canadian dollar held on to much of its monthly gain against its US counterpart on Friday (Aug 30) as investors bet the global economy would avoid recession and Canadian gross domestic product data did little to alter expectations for Bank of Canada (BOC) interest rate cuts. The loonie was trading 0.1 per cent lower…
Read MoreChinese EV maker Nio delivers 20,176 cars in August, up 4.4% from previous year
CHINESE electric vehicle (EV) maker Nio delivered 20,176 vehicles in August, 4.4 per cent more than the corresponding year-ago period. This is also the fourth straight month which the company has delivered more than 20,000 cars. But it was a nudge lower than the 20,498 cars delivered in July. The deliveries include 11,923 premium smart…
Read MoreEuropean stocks’ quest to outshine US markets is fading quickly
The promise of European stocks gaining an edge over their US counterparts is fading after a brief spell of outperformance, as concerns of an economic slowdown weigh on the outlook for earnings. Where Europe stood to gain from a shift away from big tech stocks, investors are instead turning to undervalued sectors of the US…
Read MoreHSBC exit makes Matos one of Europe’s most sought-after bankers
As HSBC Holdings’s top executives queued up in July to publicly welcome the installation of Georges Elhedery as the bank’s next chief executive officer, one prominent voice was notably absent from the social media toasts: Nuno Matos. His disappointment was understandable. Having reached the final round of the appointment process to replace Noel Quinn as…
Read MoreHiap Hoe chairman Teo Ho Beng raises his interest in company
INSTITUTIONS were net buyers of Singapore stocks over the five trading sessions spanning Aug 23 through to Aug 29, with S$69.5 million of net institutional inflow, adding to the S$184.7 million of net inflow over the preceding five sessions. The period also saw 18 primary-listed companies conduct buybacks with a total consideration of S$14.5 million.…
Read MoreTencent, NetEase rethink Japan approach as game strategy stalls
TENCENT Holdings and NetEase are reconsidering or scaling back many of their investments in Japanese studios, after years of spending yielded few hit games and the Chinese market staged a comeback. NetEase has cut all but a handful of jobs at its Ouka studio in Tokyo, according to people familiar with the matter. It intends…
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