Posts by Stephanie Irvin
US: Wall St opens lower after Moody’s rating cut; yields rise
Published Mon, May 19, 2025 · 09:51 PM [NEW YORK] Wall Street’s main indexes opened lower on Monday (May 19) as Treasury yields rose after Moody’s downgraded the US sovereign rating, sharpening focus on its mounting debt. The Dow Jones Industrial Average fell 111.9 points, or 0.26 per cent, at the open to 42,542.81. The…
Read MoreDFI Retail Group’s Q1 underlying profit falls 18% on sale of Chinese supermarket
[SINGAPORE] DFI Retail Group’s underlying profit for Q1 2025 fell 18 per cent compared with the same period a year ago, due to the divestment of Yonghui Superstores last year. The Chinese supermarket operator contributed US$23 million in earnings in the corresponding period a year ago. Excluding the divestment, the underlying profit of the…
Read MoreOssia appoints Asian Corporate Advisors as independent financial adviser for privatisation offer
The controlling shareholders of Ossia have made an unconditional offer on May 15 to take the company private at S$0.16 a share [SINGAPORE] Mainboard-listed Ossia International has appointed Asian Corporate Advisors as the independent financial adviser (IFA) for the unconditional offer made by Ossia’s controlling shareholders to take the lifestyle products retailer and distributor private.…
Read MoreSTI slips 0.6%, weighed down by US credit rating downgrade
[SINGAPORE] Singapore shares closed the first trading day of the week lower, as with most of the regional major indexes, as United States equity and bond futures slid in early Asia trading after the American government got its top credit rating downgraded a notch. Singapore’s blue-chip barometer Straits Times Index (STI) dipped 0.6 per cent…
Read MoreIndonesia’s Pertamina seeks petrol for July-December, excludes Singapore supply
Indonesia is considering a cut to fuel imports from Singapore and instead increase supply from the US Published Mon, May 19, 2025 · 04:54 PM [SINGAPORE/JAKARTA] Indonesia’s Pertamina has issued five tenders to buy nearly three million barrels of petrol a month for delivery between July and December, and excluded Singapore as the origin of…
Read MoreKwek Poh Heok named new CEO of Business China; Ho Chee Hin exits into public sector
[SINGAPORE] Kwek Poh Heok has been appointed the new chief executive of Business China, with effect from Jul 1. She succeeds Ho Chee Hin who served as CEO from January 2023 and will return to the public sector. Ho was responsible for starting several youth programmes, including the Youth Interns Exchange Scheme, the Youth Knowledge Programme, and the…
Read MoreHong Kong dollar falls to near one-year low on flush cash conditions
[HONG KONG] The Hong Kong dollar weakened to a near one-year low against the US dollar on Monday (May 19), reversing the strength seen two weeks ago, as falling borrowing costs in the financial hub on the back of flush cash conditions led to a return of carry trades. The loose liquidity conditions come after…
Read MoreAnalysts say SIA is fairly valued, with several raising target price
[SINGAPORE] Analysts have commented that the share price of Singapore Airlines (SIA) is fairly valued at the moment, even as several lifted their target price and recommended a “hold” on the stock, after the airline group published its financial year 2025 financial results. Their projections for FY2026 net profit range from S$900 million to S$1.4…
Read MoreAlibaba shares slide as AI deal with Apple faces US scrutiny
[HONG KONG] Shares of Alibaba Group Holding slumped after a report that the Trump administration has raised concerns over Apple’s potential deal with the Chinese technology firm. Alibaba’s stock dropped as much as 4.8 per cent on Monday (May 19) in Hong Kong, leading declines on the Hang Seng China Enterprises Index. The broader gauge…
Read MoreChinese trader who made US$1.5 billion on gold builds a giant bet on copper
[SINGAPORE] A reclusive Chinese billionaire whose prescient gold trades turned into an eye-catching windfall has now become the country’s biggest copper bull, amassing a bet worth nearly US$1 billion in a market jolted by escalating competition between the US and China. Bian Ximing, who made an early fortune in plastic tubes before seeking a quiet…
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