Posts by Stephanie Irvin
Jardine Matheson leads losses; STI closes flat ahead of earnings
SINGAPORE stocks fell minimally on Tuesday (Oct 15) ahead of earnings results, led by Jardine Matheson and its subsidiary DFI Retail Group, while Chinese stocks fell sharply amid a fading optimism on fiscal stimulus. The benchmark Straits Times Index (STI) fell 0.01 per cent or 0.44 point to 3,595.47. Across the broader market, losers outnumbered…
Read MoreIEA sees oil surplus looming, reassures on Iran supply risk
THE world oil market is heading for a sizeable surplus in the new year, the International Energy Agency (IEA) said on Tuesday (Oct 15) as it reassured that the agency stood ready to act if needed to cover any supply disruption from Iran. Oil prices have risen in recent weeks on investor concern that Israel…
Read MoreSwiss regulator tells UBS to strengthen its crisis plans
UBS must improve its emergency plans following its takeover of Credit Suisse to ensure the bank can be wound down or sold without risking financial stability and taxpayer cash, Swiss regulator FINMA said on Tuesday (Oct 15). FINMA said it had suspended the annual approval of UBS’s recovery and emergency plans while Switzerland’s last globally…
Read MorePetronas’ exploration in South China Sea will continue, Malaysia PM says
MALAYSIA’S Prime Minister Anwar Ibrahim on Tuesday (Oct 15) reiterated that state energy firm Petronas will continue to conduct oil and gas exploration activities in Malaysia’s exclusive economic zone (EEZ) in the South China Sea, despite objections from China. This includes exploration activities in Petronas’ Kasawari gas development off Sarawak state on Borneo, he told…
Read MoreBrokers’ take: DBS downgrades Yanlord Land, but raises price target to S$0.70
DBS Group Research downgraded Yanlord Land to “hold” from “buy” following the stock’s share price rally, as the research house believes positive investor sentiment is now priced in. It nonetheless raised its target price on the stock to S$0.70 versus S$0.67 previously, which values Yanlord at 0.2 times the one-year forward price-to-book ratio. In a…
Read MoreBroker’s take: DBS downgrades Yanlord Land to ‘hold’ with revised price target of S$0.70
DBS Group Research downgraded Yanlord Land to “hold” from “buy” following the stock’s share price rally, as the research house believes positive investor sentiment is now priced in. It nonetheless raised its target price on the stock to S$0.70 versus S$0.67 previously, which values Yanlord at 0.2 times the one-year forward price-to-book ratio. In a…
Read MoreCiti’s Australia chief says real estate tops investor interest
REAL estate is emerging as Australia’s most in-demand sector as investors seek out the biggest beneficiaries of what they expect to be the start of a central bank easing cycle, the head of Citigroup’s Australian unit said. “Five of our top six most in-demand companies are from the real estate sector,” Mark Woodruff, Citi’s chief…
Read MoreCentral bankers make rare comments in favour of bigger gold stash
GOLD purchases from central banks have been a key driver in bullion’s record-smashing rally this year. But officials rarely signal ahead of time when buying is top of mind. In a break to that form, reserve managers from the central banks of Mexico, Mongolia and Czech Republic on Monday (Oct 14) sang the praises of…
Read MoreNvidia notches record close, could unseat Apple as most valuable company
SHARES of Nvidia closed at their highest ever on Monday (Oct 14), putting the heavyweight artificial intelligence (AI) chipmaker on the brink of dethroning Apple as the world’s most valuable company. With investors betting on strong demand for its current and next-generation AI processors, the Santa Clara, California company’s stock climbed 2.4 per cent to…
Read MoreBitcoin climbs with Harris pledging regulatory framework support
BITCOIN climbed to the highest level in two weeks with Vice-President Kamala Harris pledging to support a regulatory framework for cryptocurrencies. The promise added to optimism seen during Asian trading hours that a mixed reaction to China’s latest stimulus will embolden speculators to chase after cryptocurrencies rather than the nation’s stocks. The largest digital asset…
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