Posts by Mark Darwin
🦁 Is investing in the Straits Times Index alone enough?
🐌 Sluggish performance The first investment I made back in 2015 when I was in national service was in a fund that tracked the Straits Times Index (STI). I had read about how great long-term investing in index funds was, and investing in foreign markets felt too risky to me back then. For six years,…
Read MoreHSBC wealth CEO Matos steps down as bank unveils major executive shake-up
HSBC’S CEO of Wealth and Personal Banking, Nuno Matos, is resigning to pursue other opportunities, the Asia-focused bank said on Thursday (Aug 29) as it unveiled a significant shake-up in its leadership team on the eve of Georges Elhedery starting as CEO. Hong-Kong-based Matos, who joined HSBC in 2015, was among the internal candidates in…
Read MoreHSBC’s wealth head to exit bank after missing out on CEO job
HSBC Holdings’s wealth unit head Nuno Matos is leaving the bank weeks after missing out on the chief executive officer’s role. The head of the London-listed lender’s wealth and personal banking divisions – which accounted for 41 per cent of the group’s next revenues last year – will step down after nine years at the…
Read MoreEU new car sales flat in July as battery-electric slumps: industry body ACEA
NEW car sales in the European Union rose 0.2 per cent in July, slowed by declines in France and Germany, while battery-electric vehicles continued to lose market share, data from Europe’s auto industry body showed on Thursday. Improvements in the Belgian, Dutch and French electric-vehicle (EV) markets failed to offset a drop of almost 37…
Read MoreAsia: Tech weighs down markets after Nvidia results
A SELL-OFF in tech firms dragged Asian markets down on Thursday after investors were left disappointed by earnings from chip titan Nvidia that stoked concerns about the outlook for all things artificial intelligence. While the report beat expectations in many areas, it took the wind out of the sails for traders, who had been enjoying…
Read MoreHow the Fed will help Singapore Reits outshine banks
SINGAPORE property owners have spent a long time languishing in the shadow of the chart-topping performance of the island’s banks. But with US Federal Reserve Chair Jerome Powell signalling the start of monetary easing from next month, the landlords’ day in the sun may not be far away. Higher-for-longer global interest rates pumped up the profitability of loans at Singapore’s three…
Read MoreStocks to watch: Prudential, PEC
THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 29):
Read MoreHP falls after cutting profit outlook on printer slowdown
HP INC slipped about 3 per cent in extended trading after cutting its full-year profit outlook on a continued downturn in its printing unit. The disappointing profit forecast overshadowed the company’s first revenue gain in two years, suggesting an end to a long slump in demand for personal computers. Profit, excluding some items, will be…
Read MoreAI chip giant Nvidia beats expectations, but shares take hit
ARTIFICIAL intelligence behemoth Nvidia on Wednesday said quarterly sales reached a higher than expected US$30 billion in the last quarter, though that growth was slower than the furious pace seen in previous quarters. Declared by Wall Street to be the world’s most important stock, the California-based AI chip-maker led by CEO Jensen Huang saw its…
Read MoreOil prices fall 1% after US crude stocks draw; Libya supply risks limit losses
OIL prices settled 1 per cent lower on Wednesday after a smaller-than-expected draw in US crude stockpiles and as concerns over Chinese demand persisted, though losses were capped by supply risks in the Middle East and Libya. Brent crude futures settled down 90 cents, or 1.13 per cent, at US$78.65 a barrel. US West Texas Intermediate…
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