Posts by Mark Darwin
Buyback and director filings taper off during pre-earnings period
INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Jul 18, with S$98 million of net institutional outflow. The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million. UOB was the only STI counter that filed buybacks for the period, with 112,000 shares…
Read MoreTraders eye return to business as usual after cyber outage; issues remain
Trading returned to normal on Friday (Jul 19) after a global technology outage hampered operations at financial firms from London to Singapore and New York, although a few residual problems remained, including outages at some JPMorgan Chase automated teller machines. A software update wreaked havoc on computer systems globally, grounding flights, forcing some broadcasters off…
Read MoreBitcoin hits 1-month high, revives talk of another record run
BITCOIN surpassed US$67,000 for the first time in more than a month, reviving speculation that the largest cryptocurrency may soon make another run at record highs, amid optimism that a second Trump presidency will be beneficial for digital assets. The surge of almost 6 per cent to US$67,434 on Friday (Jul 19) by the crypto…
Read MoreEurope: Stoxx 600 logs weekly decline as tech, resources shares weigh
European shares clocked weekly losses as a sell-off in technology shares, some downbeat earnings along with falling commodity-linked stocks weighed, ending a tumultuous week marked by a global tech outage on Friday (Jul 19). The pan-European Stoxx 600 index closed 0.8 per cent lower, slipping to a more than two-week low and logging a weekly…
Read MoreGeely’s Zeekr mulls building EVs in Europe to avoid tariffs
ELECTRIC-VEHICLE maker Zeekr is considering making cars in European factories linked to its parent, the Chinese auto conglomerate Zhejiang Geely Holding Group, to avoid European Union tariffs and further its international expansion. All of the high-end EV brand’s vehicles are currently manufactured in China and face a 19.9 per cent provisional duty on imports into…
Read MoreUS: Wall Street opens lower as selloff resumes
WALL Street’s main indexes slipped at the open on Friday (Jul 19) as investors continued to move away from heavily weighted chip and megacap tech stocks, while assessing the impact of a sweeping global tech outage. The Dow Jones Industrial Average fell 72.67 points, or 0.18 per cent, at the open to 40,592.35. The S&P…
Read MoreLSEG data and services back up and running after outage
LSEG Group’s data and services were back up and running on Friday (Jul 19) after suffering an outage earlier in the day that caused some disruption across financial markets. A global tech outage on Friday disrupted operations in multiple industries, with airlines halting flights, some broadcasters going off-air and everything from banking to healthcare hit…
Read MoreMeta chief Zuckerberg declines to endorse Trump or Biden in elections
MARK Zuckerberg said that former President Donald Trump’s immediate reaction after being shot was “badass” and inspiring, and helps explain his appeal to voters. “Seeing Donald Trump get up after getting shot in the face and pump his fist in the air with the American flag is one of the most badass things I’ve ever…
Read MoreChina likely to maintain lending rates even as economy slows
CHINA is expected to leave benchmark lending rates unchanged on Jul 22, while more market participants project further monetary easing to aid the economy following weaker-than-expected second-quarter economic data, a Reuters poll showed. A fragile yuan, China’s lower interest rates versus other major economies, monetary policy divergence and narrowing interest margins at commercial banks remain…
Read MoreTrump welcomes China to build cars in US in departure from Biden
FORMER US president Donald Trump has reiterated an openness for Chinese automakers to build cars in the US as a way to boost the economy, signalling a potentially different approach from a Biden administration that has sought to keep out vehicles with links to the country. “Right now as we speak, large factories are being…
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