Posts by Stephanie Irvin
Industrial S-Reits report NPI growth, but managers are cautious on outlook
SINGAPORE real estate investment trusts (S-Reits) with exposure to the industrial sub-segment have mostly reported growth in net property income (NPI) in the quarter ended March. The resilient operating performance comes as industrial S-Reits report stable occupancies and positive rental reversions in the most recent quarter. However, the Reit managers are more cautious on the…
Read MoreEurope: Stoxx 600 up, Germany’s DAX at record peak on trade deal optimism
EUROPEAN shares extended gains on Friday, with Germany’s DAX index closing at an all-time high, as signs of easing global trade war relieved investors as they looked ahead to discussions between the US and China over the weekend. The pan-European Stoxx 600 index ended 0.44 per cent higher at 537.96. Frankfurt’s DAX index climbed 0.6 per cent…
Read MoreNippon Steel expects profit to drop 43% this year, US steel decision by early June
[TOKYO] Nippon Steel expects net profit to slide 43 per cent in the fiscal year ending March 2026, it said on Friday (May 9), citing a weak global steel market pressured by China’s exports and the impact of new US tariffs. Japan’s biggest steelmaker also said it expects a US decision on whether to approve…
Read MoreUMS Integration Q1 earnings nearly flat at S$9.8 million
[SINGAPORE] Semiconductor player UMS Integration on Friday (May 9) reported profit of S$9.8 million for the first quarter ended Mar 31, 2025, almost unchanged from the group’s profit in the corresponding year-ago period. This translates to earnings per share of S$0.0138, down from S$0.0141 a year earlier. The group declared an interim dividend of…
Read MoreSingapore stocks rise on US-UK trade deal; STI up 0.7%
[SINGAPORE] Local stocks ended higher on Friday (May 9), as investors reacted positively to news of the US striking a trade deal with the UK – the first after President Donald Trump announced sweeping tariffs worldwide. The benchmark Straits Times Index (STI) rose 0.7 per cent or 27.94 points to 3,876.16. Across the broader market,…
Read MoreGermany’s DAX Index hits record high after tariffs round trip
[FRANKFURT] Germany’s DAX Index became the first major European gauge to surpass its March record high, recouping all declines sparked by US President Donald Trump’s trade war. The stock index rose as much as 0.8 per cent to a level of 23,528.88, exceeding the intraday peak set on March 18. The pan-European Stoxx 600 Index…
Read MoreForeign banks sell record Indian sovereign debt as tensions rise
[NEW DELHI] Foreign banks sold a record amount of Indian government bonds on Thursday (May 8), as a growing border conflict with Pakistan weighs on investor sentiment. They sold a net US$1.2 billion of the debt, a high according to data from the Clearing Corp of India going back to 2006. The move signals growing…
Read MoreChina’s top chipmaker SMIC plunges after projecting lower sales
[SINGAPORE] Semiconductor Manufacturing International Corporation (SMIC) plunged on Friday (May 9) after China’s leading chipmaker warned sales could fall as much as 6 per cent this quarter because of production disruptions. Co-CEO Zhao Haijun said sales would fall between 4 per cent and 6 per cent in the second quarter, versus projections for a sharp…
Read MoreNvidia modifies H20 chip for China to overcome US export controls: sources
[BEIJING] Nvidia plans to release a downgraded version of its H20 artificial intelligence (AI) chip for China in the next two months, following US export restrictions on the original model, three sources familiar with the matter told Reuters. The US chipmaker has notified major Chinese customers, including leading cloud computing providers, that it aims to…
Read MoreIndonesia seeks to end rice imports this year as output jumps
[JAKARTA] Indonesia is set to stop importing rice this year for the first time in decades, thanks to surging production and stockpiles in one of the world’s top growers of the staple food. Domestic output is expected to increase to at least 33.8 million tonnes in 2026, up from a target of 32.8 million tonnes…
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