Posts by Stephanie Irvin
Trump gives Nippon Steel takeover of US Steel a second look
[NEW YORK] President Donald Trump on Monday launched a review of the proposed takeover of US Steel by Japanese rival Nippon Steel, a merger previously blocked by Joe Biden on national security grounds. “I direct the Committee on Foreign Investment in the United States (CFIUS) to conduct a review of the acquisition of US Steel…
Read MoreUS: Dow, S&P 500 lower after volatile session; Nasdaq ends positive
[NEW YORK] Wall Street stocks finished mostly lower on Monday following a volatile session amid rising recession worries due to President Donald Trump’s trade wars. Both the Dow and S&P 500 ended lower despite flirting with positive territory, while the Nasdaq mustered a modest gain. The Dow Jones Industrial Average finished down 0.9 per cent at 37,965.60.…
Read MoreThakral clarifies IPO rumours on associate GemLife; says ‘no certainty’ that any transaction will proceed
[SINGAPORE] Thakral Corp clarified rumours that its associate GemLife, a resort-living developer in Australia, is gearing up for an initial public offering (IPO), and said there is “no certainty” that any transaction will go through. It was responding to an article published online by The Australian Financial Review on Apr 2, which said GemLife “was…
Read MoreHong Kong stocks end 13.22% down, worst since 1997 Asian financial crisis
[HONG KONG] Shares in Hong Kong plummeted more than 13 per cent Monday (Apr 7) on their worst day in almost three decades as China’s retaliation against Donald Trump’s tariffs ramped up a trade war and fuelled recession fears. The Hang Seng Index ended down 13.22 per cent, or 3,021.51 points, to 19,828.30 – its…
Read MoreEuropean shares plummet to 16-month low on trade war gloom
[berlin] European shares plunged to a 16-month low on Monday (Apr 7) as investors grappled with the possibility of a recession after US President Donald Trump showed no signs of letting up in his aggressive trade war. The pan-European STOXX 600 slumped 5.8 per cent at 0722 GMT, down for the fourth straight session and…
Read MoreYuan devaluation market chatter grows as trade war worsens
The deepening trade war is raising speculation in financial markets that China may resort to aggressively devaluing the yuan against the US dollar in a break of their policy of pursuing a stable currency. Strategists from New York to Hong Kong are game-planning if Beijing’s Friday (Apr 4) warning of a “resolute” response to US…
Read MoreGold plunges to lowest in over 3 weeks as market sell-off hits bullion
GOLD prices continued to face turmoil on Monday, and hit their lowest levels in more than three weeks, as a wider market sell-off triggered by US President Donald Trump’s tariff measures impacted bullion traders. Spot gold was down 1.9 per cent at US$2,981.09 an ounce, as of 0031 GMT, its lowest level since March 13.…
Read MoreJapan’s Nikkei plunges over 8% as Asia markets continue selloff on Trump tariffs
No respite for Asian markets after massive losses last week after Trump’s tariff announcements [SINGAPORE] The selloff continued as Asian markets tumbled on Monday (Apr 7) morning, following US President Donald Trump’s sweeping tariff announcement last Wednesday (Apr 2). The Straits Times index plummeted by 8.5 per cent, falling below 3,500 with a drop of…
Read MoreSingapore’s STI plunges 8.5%, Japan’s Nikkei drops over 8% as Asian markets sell off sharply
[SINGAPORE] The sell-off continued as Asian markets tumbled on Monday (Apr 7) morning, following US President Donald Trump’s sweeping tariff announcement last Wednesday. The Straits Times Index (STI) plummeted by 8.5 per cent, falling below 3,500 with a drop of more than 325 points. This marked the largest intraday decline since the STI crashed 8.9…
Read MoreStocks to watch: Sembcorp, The Hour Glass, Wee Hur Holdings
[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Monday (Apr 7): Sembcorp Industries: Sembcorp Industries is “well-positioned” to achieve its target of 25 gigawatts (GW) of gross installed renewables capacity by 2028, said the company in its FY2024 annual report released last Tuesday. The company’s gross renewables capacity…
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