Posts by Stephanie Irvin
Wall Street opens higher on tech rebound, Nike slumps
[NEW YORK] Wall Street’s main indexes opened higher on Friday (Dec 19), as technology stocks extended their rebound from an early-week sell-off, while Nike tumbled after weak China sales weighed on its quarterly results. The Dow Jones Industrial Average rose 87.38 points, or 0.21 per cent, to 48,051.77. The S&P 500 rose 20.66 points, or…
Read MoreGrab to acquire Chinese firm Infermove to expand in AI robotics
[SINGAPORE] Grab Holdings has acquired Chinese tech company Infermove to expand in artificial intelligence-enabled robotics for food delivery. Grab sees Infermove’s solutions will complement its first- and last-mile delivery capabilities, the Singapore-based company said in a statement Friday (Dec 19) in response to a query from Bloomberg News. Grab’s investment will help fuel Infermove’s growth,…
Read MoreChina A500 ETFs inflows surge to record high towards year-end
Investors buy 8.7 billion yuan worth of shares in seven of the largest basket funds INFLOWS to a group of exchange-traded funds (ETFs) tracking the CSI A500 Index surged to a fresh record on Thursday (Dec 18), with the strong activity leaving traders perplexed. Investors bought 8.7 billion yuan (S$1.6 billion) worth of shares in…
Read MoreSingapore stocks close flat as regional bourses end higher; STI inches down 0.02%
CDL is the top blue-chip gainer on the STI, while Yangzijiang Shipbuilding is the biggest decliner [SINGAPORE] Local shares closed flat on Friday (Dec 19), even as most regional bourses ended higher. The benchmark Straits Times Index (STI) inched down 0.02 per cent or 0.83 point to 4,569.78. Meanwhile, the iEdge Singapore Next 50 Index…
Read MoreGLP picks investment banks for 2026 Hong Kong IPO: sources
Deliberations are ongoing and details such as the offering size and timing have not been finalised [HONG KONG] Investment firm GLP has selected banks for a Hong Kong initial public offering that may take place as soon as the first half of 2026, according to people familiar with the situation. The Singapore-based company has picked…
Read MoreAsian markets rise as US inflation eases, Micron soothes tech fears
ASIAN markets rose on Friday as a below-forecast read on US inflation boosted hopes for another interest rate cut next month, while blockbuster earnings from chip firm Micron helped soothe nerves over a tech bubble. Investors were also keeping tabs on the Bank of Japan as it concludes a policy meeting amid expectations it will…
Read MoreColiwoo disposes Pasir Panjang co-living hotel space in S$43.9 million sale-and-leaseback deal
Estimated net proceeds of S$15.3 million will be used to repay working capital loans owed to LHN Group and for general working capital purposes [SINGAPORE] Coliwoo has entered into a sale-and-leaseback agreement to dispose of a co-living hotel property in Pasir Panjang owned and managed by its subsidiary Coliwoo PP. The co-living operator and Globalpoint…
Read MoreDBS, Keppel, CDL, CICT, Sea, STE, Singtel among JPMorgan’s top picks for 2026
The city-state’s rally has a ‘long way to go’, says the bank, which is also ‘overweight’ on Vietnamese equities [SINGAPORE] Asean equities will be at an inflexion point in 2026, with a recovery in earnings and valuations after years of underperformance, analysts at JPMorgan said. The bank’s 2026 regional outlook report advised investors to pivot…
Read MoreInstacart to pay US$60 million to settle FTC claims it deceived shoppers
INSTACART has agreed to pay US$60 million in refunds to settle the US Federal Trade Commission’s allegations that the online grocery delivery platform deceived consumers about its Instacart+ membership and free delivery offers, according to court documents filed in San Francisco on Thursday. Instacart’s offer of “free delivery” for first orders was illusory because shoppers…
Read MoreECB holds rates with growth firmer and inflation near target
Policymakers give no guidance on next steps, saying decisions will be made meeting by meeting on data [FRANKFURT] The European Central Bank (ECB) left interest rates unchanged for a fourth straight meeting as inflation hovers around target and the eurozone weathers global shocks. The deposit rate was kept at 2 per cent on Thursday (Dec…
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