Posts by Stephanie Irvin
Singapore stocks lose steam as SIA sinks, Fed stands pat; STI drops 1%
SINGAPORE equities were in the red on Thursday (Aug 1), after the US Federal Reserve stood pat in its July meeting, but signalled it could be ready to start cutting rates as early as September. The Singapore Exchange’s blue-chip barometer, the Straits Times Index (STI), descended 1 per cent or 36.1 points to 3,419.84. Across…
Read MoreHugo Boss misses Q2 operating profit expectations
HUGO Boss reported a 42 per cent drop in second-quarter operating profit on Thursday (Aug 1), below market expectations, two weeks after the German fashion house slashed its annual forecasts as economic and geopolitical challenges dampen global consumer demand. The luxury sector is grappling with weaker sales and margin pressures as inflation-hit shoppers cut back…
Read MoreLikely September Fed rate cut will boost Asian bonds, equities: analysts
ANALYSTS continue to be positive on Asian fixed-income instruments and equities, after the US Federal Reserve chair Jerome Powell said a rate cut in September is “on the table”, provided inflation data continues to look promising. The Fed maintained the key interest rate at 5.25 to 5.5 per cent, as “further progress” has been made…
Read MoreBank of England to finally cut interest rate?
THE Bank of England (BOE) announces its latest interest-rate decision on Thursday (Aug 1), with analysts split on whether it will cut for the first time since the Covid pandemic after inflation’s retreat. The conclusion of a regular policy meeting will see whether the BOE trims borrowing costs, currently at a 16-year high of 5.25…
Read MoreHong Kong central bank keeps base rate unchanged as Fed holds steady
THE Hong Kong Monetary Authority (HKMA) left the base rate it charges through the overnight discount window at 5.75 per cent on Thursday (Aug 1), after the US Federal Reserve held its rates steady. The Fed on Wednesday ended its latest two-day policy meeting with a decision to hold its benchmark interest rate steady in…
Read MoreSats tops governance and transparency index; Singapore listcos’ scores dip after methodology change
Big-cap companies with market capitalisations of more than S$1 billion outperform mid and small-cap companies GROUND handler and caterer Sats clinched the top spot in an annual governance and transparency index assessing Singapore-listed companies on Thursday (Aug 1). It moved up one spot to reclaim the position from telco Singtel, which placed first on the…
Read MoreUBS enters debt swap market that was pioneered by Credit Suisse
UBS Group is working on its first-ever ESG debt swap, building on expertise it inherited from Credit Suisse after taking over the bank last year. UBS will form part of a consortium of firms working to raise funds for a US$300 million refinancing arrangement for Barbados that will help fund climate-resilient infrastructure, according to a…
Read MoreStocks to watch: UOB, SIA, Keppel, Japfa
THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 1):
Read MoreUS weighs new restrictions on China’s access to AI memory chips
THE United States is considering unilateral restrictions on China’s access to artificial intelligence (AI) memory chips and equipment capable of making those semiconductors as soon as next month, a move that would further escalate the tech rivalry between the world’s biggest economies. The measure is designed to keep Micron Technology and South Korea’s leading memory…
Read MoreSingapore, Asia markets react to BOJ rate hike; STI rises 0.4%
SINGAPORE stocks rose on Wednesday (Jul 31), after the Bank of Japan (BOJ) lifted interest rates for the second time since 2007. The benchmark Straits Times Index (STI) expanded 0.4 per cent or 14.17 to 3,455.94. Across the broader market, advancers beat decliners 363 to 198, as 1.1 billion securities worth S$1.2 billion changed hands.…
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