Posts by Stephanie Irvin
US: Wall St opens higher after long weekend on Trump’s trade reprieve
Published Tue, May 27, 2025 · 09:51 PM [NEW YORK] Wall Street opened higher on Tuesday (May 27) after US President Donald Trump dialled back his threat of tariffs on EU imports, defusing trade tensions between the United States and the European bloc and boosting investor confidence. The Dow Jones Industrial Average rose 246.0 points,…
Read MoreNippon Steel could offer Washington golden share to seal US Steel deal, Nikkei reports
Deliberations over the idea, which would give Washington the power to veto important management matters Published Tue, May 27, 2025 · 08:03 PM [TOKYO] Nippon Steel is considering offering a so-called golden share in US Steel to the US government in order to finalise its long-sought acquisition of the iconic American firm, Japan’s Nikkei newspaper…
Read MoreXiaomi reports 47% revenue growth in Q1 as it launches new electric SUV
[BEIJING] China’s Xiaomi reported a 47.4 per cent annual jump in first-quarter revenue on Tuesday (May 27) as the company doubled down on making electric vehicles. Revenue for the quarter ended Mar 31 was 111.3 billion yuan (S$19.9 billion), beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG. Adjusted net profit…
Read MoreSingapore shares rise as US delays tariffs on European Union; STI up 0.5%
Across the broader market, gainers beat losers 249 to 180, after 1.1b securities worth S$958m were traded [SINGAPORE] Shares on the Singapore bourse ended higher on Tuesday (May 27), after the US extended the deadline for tariff negotiations with the European Union (EU) to Jul 9. The Trump administration had threatened to impose 50 per…
Read MoreMaybank downgrades Malaysia’s Tan Chong Motor to ‘sell’ amid widening losses, competition
[SINGAPORE] Maybank Investment Bank has downgraded Malaysia’s Tan Chong Motor (TCM) to “sell”, from “hold” previously, amid widening losses, weak product appeal and intensifying competition. Despite the downgrade, Maybank maintained its target price for the Bursa-listed company at RM0.38, based on an unchanged 0.1 times its forecast book value for FY2025. TCM is the franchise…
Read MorePort congestion at Asian ports reported; Singapore’s average waiting time up to 1.5 days
[SINGAPORE] Port congestion has been reported at Asian ports, with Singapore being one of those impacted – the berth waiting time at the world’s top transhipment hub is said to be between 12 and 36 hours. Liner Hapag-Lloyd’s customers were updated as at May 26 that some Asian ports were facing increased waiting times due…
Read MorePeirce Hill bungalow owned by wife of 3AC’s Kyle Davies sells for S$37 million
[SINGAPORE] A bungalow in Peirce Hill owned by the wife of failed Three Arrows Capital (3AC) co-founder Kyle Davies, is in the early stage of being sold, at S$37 million. The price works out to S$2,144 per square foot on the freehold land area of 17,260 sq ft. The property, which is in the Ridout…
Read MoreBYD shares extend losses as price cuts throw spotlight on sales
[HONG KONG] BYD shares extended losses in Hong Kong trading on Tuesday (May 27) – taking their two-day slide to more than 10 per cent – as last week’s sweeping price cuts stoked concern of another wave of discounting in China’s cutthroat electric car market. The stock fell as much as 4 per cent in…
Read MoreAsia: Stocks fluctuate as traders await next moves in Trump trade war
[HONG KONG] Equities meandered on Tuesday as investors awaited the latest developments on Donald Trump’s trade war, while the yen rallied after the head of Japan’s central bank flagged more interest rate hikes if the economy improved. With Wall Street closed for a holiday, there were few major catalysts to drive business, though investors remain on…
Read MoreCerberus eyes Chinese firm’s Darwin port: report
[CANBERRA] US private equity firm Cerberus Capital Management is preparing a bid for the strategically important Port of Darwin, currently owned by Chinese firm Landbridge Group, The Australian newspaper reported. Cerberus is readying a proposal to buy the 99-year lease from Landbridge at a price slightly above the A$506 million (S$421 million) the Chinese company…
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