Posts by Mark Darwin
BOJ didn’t see July hike as policy tightening, summary shows
A SUMMARY of opinions from the Bank of Japan’s Jul 31 board meeting showed that authorities believed monetary policy would remain accommodative even as they conducted a small interest rate hike. “It should be noted that raising the rate at a moderate pace means an adjustment in the degree of monetary accommodation in accordance with…
Read MoreXiaomi-backed AI chipmaker Black Sesame falls in Hong Kong debut as AI frenzy wanes
Shares of artificial intelligence (AI) chipmaker Black Sesame International tumbled as much as 35 per cent on their debut, dealing a blow to Hong Kong’s efforts to attract more technology listings. The Xiaomi-backed company’s shares fell to as low as HK$18.28 on Thursday (Aug 8) on the Hong Kong Stock Exchange. They had been priced…
Read MoreMalaysia boasts of chip clout as Infineon opens 7 billion euro site
Malaysia is gaining more heft in the global supply chain as Infineon Technologies opens a major semiconductor manufacturing complex in the country, the South-east Asian nation’s leader said. “We are now be able to receive and expand the technology. It shows Malaysia is now going up the ladder,” Prime Minister Anwar Ibrahim said at the…
Read MoreSasseur Reit H1 DPU falls 5.1% to S$0.03153
SASSEUR Real Estate Investment Trust (Sasseur Reit) posted a distribution per unit (DPU) of S$0.03153 for the first half ended Jun 30, down 5.1 per cent from S$0.03322 in the previous corresponding period. Distributable income fell 2.9 per cent on the year to S$42.7 million for H1 2024, from S$43.9 million. On Thursday (Aug 8),…
Read MoreGoTo investors may need a more exciting growth story
Its struggling share price, despite narrower losses, may reflect expectations to ‘go big or go home’ INDONESIA’S GoTo Group is seeing losses narrow since handing control of its e-commerce arm to social media giant TikTok. But its share price is still down 85 per cent since its debut on the domestic bourse two years ago.…
Read MoreMeta begins blue-chip bond sale as market volatility eases
META Platforms is selling investment-grade bonds, which will boost its cash pile as the company spends heavily on artificial intelligence. The Facebook and Instagram parent company on Wednesday (Aug 7) offered notes in as many as five parts for general corporate purposes, according to a person with knowledge of the matter. The longest portion…
Read MoreFrasers Property sees challenging operating environment for its business in Thailand
FRASERS Property said that it is managing its residential business in Thailand with “agility amid a challenging operating environment”, in a business update on Wednesday (Aug 7) for the third quarter ended Jun 30. The developer noted that the Bank of Thailand had raised its policy rate to 2.5 per cent in September 2023, up…
Read MoreTimeline: DBS’ key milestones under CEO Piyush Gupta
DBS announced on Wednesday (Aug 7) that its chief executive officer will retire at the next annual general meeting on Mar 28, 2025. Piyush Gupta, who has been with the bank since 2009, will be succeeded by Tan Su Shan, who was appointed deputy CEO on Wednesday, in addition to her current role as group…
Read MoreUS: Wall Street opens higher as tech stocks surge
WALL Street’s main indices opened higher on Wednesday (Aug 7) as technology stocks gained after Japan’s top policymaker calmed investor worries over interest rates after a surprise hike last week partly set off heavy volatility in global markets. The Dow Jones Industrial Average rose 232.4 points, or 0.60 per cent, at the open to 39,230.09.…
Read MoreYen dives as BOJ plays down chance of hikes, soothing markets
THE yen dropped on Wednesday (Aug 7) after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors’ concerns that a further jump in the Japanese currency could again rock global markets. The yen fell about 2.5 per cent to a session low of 147.94 per US dollar…
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