Posts by Mark Darwin
Gold prices inch lower as focus turns to US inflation data
GOLD prices edged down on Tuesday (Jun 25), as investors await key US inflation data due this week that could offer fresh clues on how soon the Federal Reserve can cut interest rates. Spot gold was down 0.1 per cent at US$2,329.64 per ounce, as at 0114 GMT. US gold futures also edged 0.1 per…
Read MoreSingapore shares edge down at Tuesday’s open; STI down 0.1%
SINGAPORE equities began trading in negative territory on Tuesday (Jun 25), following mixed performance overnight in the US and Europe. As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 2.68 points lower at 3,311.46. Across the broader market, gainers outnumbered losers 60 to 48 after 29.4 million securities worth…
Read MoreSingapore retains spot as costliest city for high-net-worth individuals to live well: report
SINGAPORE has maintained its spot as the most expensive city in the world for high-net-worth (HNW) individuals to live well, said a report by Swiss private bank Julius Baer on Tuesday (Jun 25). According to the bank’s Global Wealth and Lifestyle Report 2024, the city-state retained the ranking for the second year in a row,…
Read MoreHedging China EV makers is getting pricey with imminent tariffs
TRADERS are preparing for more swings ahead for shares of Chinese electric vehicle (EV) makers as governments around the world plan new tariffs. The cost of Li Auto options traded in Hong Kong is hovering around its highest level since February 2023 relative to the benchmark gauge of the city’s stocks. On BYD, three-month implied…
Read MoreStocks to watch: OCBC, Great Eastern, SingPost, Best World, LMIRT, Cordlife
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 25): OCBC, Great Eastern: OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, said the lender. But no delisting is in sight as the bank’s offer for its insurance subsidiary has been…
Read MoreChina floats perks for German carmakers to prevent EV levies
BEIJING has suggested Germany’s luxury car manufacturers could benefit if Berlin convinces the European Union to drop tariffs on Chinese electric vehicle (EV) exports. China floated lowering its existing tariffs on large-engine cars in return for scrapping planned EV levies on imports from the Asian nation, according to sources familiar with the discussions, who asked…
Read MoreUS Federal Reserve floats weaker version of planned bank-capital overhaul
THE Federal Reserve has shown other United States regulators a three-page document of possible changes to their bank-capital overhaul that would significantly lighten the load on Wall Street lenders, according to sources familiar with the matter. The revisions would walk back key parts of the landmark proposal – including one that might have had a…
Read MoreHeineken to close one of its breweries in Vietnam
Heineken Vietnam, a unit of the world’s second-largest brewer Heineken, has informed authorities about plans to close of one of its breweries in the South-east Asian country due to weak demand, state media reported on Monday (Jun 24). The facility being shut down is located in the central province of Quang Nam province, the Quang…
Read MoreFidrec’s claim limit to be raised to S$150,000 from July
THE Financial Industry Disputes Resolution Centre (Fidrec) will proceed with amendments to its terms of reference, including raising the adjudicating award limit per claim to S$150,000. This comes after its public consultation on the proposed revisions received “broad support” from respondents, with a majority “welcoming the changes”. The consultation, which ended on Feb 29,…
Read MoreBrokers’ take: SAC initiates coverage on ISOTeam with ‘buy’ call on growth drivers
The research team expects ISOTeam to gain more market share and improve its margins. SAC Capital has initiated coverage on ISOTeam with a “buy” recommendation and target price of S$0.073. The target price implies a potential upside of 21.7 per cent from the counter’s last trading price of S$0.06 as at the midday trading…
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