Posts by Mark Darwin
Foreign investors raise China onshore bond holdings in May
FOREIGN investors in May raised their holdings of China’s onshore yuan bonds for the ninth straight month, particularly in short-term debt instruments. Foreign institutions held 4.22 trillion yuan (S$786.8 billion) in bonds traded on China’s interbank market as at end-May, the central bank’s Shanghai head office said, up from 4.05 trillion yuan a month earlier.…
Read MoreGameStop’s fans await shareholder meeting, after high demand derailed first attempt
GAMESTOP’S annual meeting, scheduled for Monday (Jun 17), is creating a growing buzz on social media among the company’s host of avid retail investor fans. Shares of the video game retailer have gyrated wildly over the last month after Keith Gill, the stock influencer known as Roaring Kitty who helped kick off meme stock mania…
Read MoreGoldman Sachs raises S&P 500 year-end target to 5,600
GOLDMAN Sachs has raised its 2024 year-end target for the S&P 500 Index to 5,600 from 5,200 earlier, citing strong earnings growth by five mega-cap US tech stocks and a higher fair value price-to-earnings (P/E) ratio multiple. Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms have collectively surged by 45 per cent and now comprise 25…
Read MoreStocks to watch: Yanlord Land, OxPay Financial
THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 20): Yanlord Land Group: The real estate developer’s indirect subsidiary, together with 2 other parties, was awarded a residential site tender at Lentor Central in Singapore at a bid price of S$481 million, or S$1,108 per square foot (sq…
Read MoreGlobal audiences suspicious of AI-powered newsrooms, report finds
Global concerns about the use of AI in news production and misinformation are growing, a report published by the Reuters Institute for the Study of Journalism found, posing fresh challenges to newsrooms already struggling to engage audiences. The institute’s annual Digital News Report published on Monday (Jun 17), which this year is based on surveys…
Read MoreTemasek to invest up to A$300 million in Australian ETF manager Betashares
Singapore-based investment firm Temasek Holdings will invest up to A$300 million (S$268.1 million) in Australian exchange-traded fund manager Betashares, the company said on Monday (Jun 17). The funding is expected to drive the expansion of Betashares’ offerings in Australia and overseas, it said in a statement. With the investment, Temasek will hold an undisclosed minority…
Read MoreUSDJPY expected to see continued bullish momentum
The Japanese yen has been dominating headlines in the forex market due to its steep depreciation against the US dollar. The USDJPY pair has experienced a meteoric rise since the start of 2021, when it changed hands at 103 to its current trading level at around 157 at the time of writing. This marks a…
Read MoreSingapore-based retail S-Reits record growth on higher sales, positive rent reversion
The seven Singapore real estate investment trusts (Reits) with significant exposure to Singapore-based retail assets have observed continued improved operating metrics, supported by the tourism recovery as well as recent asset enhancement initiatives (AEIs) undertaken to maximise space and improve malls’ attractiveness. The seven are: CapitaLand Integrated Commercial Trust (CICT), Frasers Centrepoint Trust (FCT), Lendlease…
Read MoreApple has US$230 billion week on bet AI iPhones are must-haves
Apple investors finally have a roadmap for how it will use artificial intelligence (AI) – and they’ve responded by pushing the stock to a record high this week. Wall Street is betting that new iPhone AI features – including Apple’s agreement with OpenAI to integrate ChatGPT – will spur a massive upgrade cycle among users…
Read MoreMusk wins pay approval but still faces Tesla’s floundering stock and rich valuation
TESLA shareholders approved CEO Elon Musk’s US$56 billion pay package in what was seen as an endorsement of his leadership, but the electric carmaker’s stock remains richly valued even after several years of weakness in shares. Shareholders at Tesla’s annual general meeting on Thursday (Jun 13) reapproved Musk’s 2018 record-setting compensation that backers said is…
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