Posts by Stephanie Irvin
Blue-chip listcos scoop up more shares; Singapore market shows signs of recovery on pause to Trump tariffs
[SINGAPORE] Constituent companies on the Straits Times Index (STI) lost no time in picking up their own shares after the benchmark index tanked on US President Donald Trump’s tariffs. The baseline 10 per cent tariffs, which kicked in over the weekend, caused major markets in the West and the region to collapse when trading started…
Read MoreBinance founder Zhao to help Pakistan boost crypto trading bid
Crypto trading is steadily gaining traction among Pakistan’s 230-million population despite its central bank’s warning over the risks posed by the industry [CHITTAGONG] Pakistan has roped in Zhao Changpeng ( CZ), the co-founder of the world’s largest crypto exchange Binance, to set up a globally competitive platform for digital finance in the South Asian nation.…
Read MoreTokyo: Nikkei ends 6% higher on market recovery hopes
[TOKYO] Japan’s Nikkei share average closed 6 per cent higher on Tuesday (Apr 8), recovering from a 1½ -year low hit in the previous session, as investors scooped up stocks, encouraged by signs of a recovery on Wall Street. The Nikkei index climbed 6.03 per cent to 33,012.58, marking its sharpest daily percentage gain since…
Read MorePBOC set to reveal hand on yuan as depreciation talk mounts
[NEW YORK] A dramatic escalation in the trade war has brought China to a crossroads, with policymakers set to decide if they should retain a tight grip on the yuan or let it weaken to counter some fallout from US tariffs. On Monday (Apr 7), Beijing weakened yuan’s daily reference rate to just 0.03 per…
Read MoreTrump 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…
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