Posts by Stephanie Irvin
US dollar reined in by threat of Japanese intervention; yen fragile
THE US dollar backed off the key 160-yen level on Tuesday (Jun 25), as fears of intervention from Japanese officials deterred traders from punishing the yen too severely against any other currencies. Elsewhere, Bitcoin recovered some lost ground after its worst day in more than two months at the start of the week, in part…
Read MoreEU charges Microsoft with abusive bundling of Teams with Office
EU ANTITRUST regulators on Tuesday (Jun 25) charged Microsoft of illegally bundling its chat and video app Teams with its Office product and say that recent moves by the US tech giant to unbundle the package were insufficient and more needed to be done. “Microsoft has breached EU antitrust rules by tying its communication and…
Read MoreSouth Korea, Japan vow to take steps to defend their currencies
Their Finance Ministers will continue to take appropriate actions against excess volatility and disorderly movements in exchange rates Finance ministers of South Korea and Japan used a bilateral meeting in Seoul on Tuesday (Jun 25) to express a shared concern about sharp declines in their currencies and vowed to take steps to defend them. South…
Read MoreShareholder support for SoftBank CEO Son’s reappointment falls to 79%
SHAREHOLDER support for the reappointment of SoftBank Group chief executive Masayoshi Son has fallen to 79.22 per cent from 95.93 per cent a year ago after proxy advisor Institutional Shareholder Services (ISS) recommended against his reappointment, a stock market filing showed on Tuesday (Jun 25). ISS opposed Son’s reappointment because the tech investment group had…
Read MoreJapan’s Nikkei closes at highest since mid-April as value shares rally
Japan’s Nikkei share average rose on Tuesday (Jun 25) to its highest close in more than two months, as investors shifted focus to value stocks from semiconductor and other high-tech, while a weaker yen also lent support to export-related shares. The Nikkei finished up 0.95 per cent at 39,173.15, its highest closing level since April…
Read MoreBeijing’s support to boost Hong Kong IPOs in second half of year
AFTER a dismal start, initial public offering (IPO) activity in Hong Kong looks poised for a better second half as Beijing steps up support for the financial hub. The number of IPO filings in Hong Kong rose in the past two months, while cancellations of listing applications on the mainland more than tripled from a…
Read MoreAsia: Markets rebound on bargain-buying but tech worries linger
ASIAN equities edged higher on Tuesday after recent losses as investors ignored another tough day for tech titans on Wall Street that has raised concerns about a correction in markets following a string of record highs. Investors are also keeping tabs on Tokyo after Japan’s top currency official warned authorities were ready 24 hours a…
Read MoreAtome Financial secures up to US$100 million in growth debt facility from EvolutionX
DIGITAL financial technology platform, Atome Financial, has secured a three-year term loan facility from EvolutionX Debt Capital, which is a growth-stage debt financing platform jointly set up by DBS and Temasek. The online platform is also working with a group of investors to use the facility’s accordion feature to increase the total loan amount to…
Read MoreChina’s BYD launches third EV model in Japan
CHINA’S BYD launched its third electric vehicle in Japan, it said on Tuesday, a sedan that will be its most expensive model so far in a market where consumers have long favoured domestic brands. The Shenzhen-based automaker said it had started taking orders for its Seal EV in Japan from Tuesday, setting the suggested retail…
Read More‘It’s all happening again.’ The supply chain is under strain
STEPHANIE Loomis had hoped that the chaos besieging the global supply chain was subsiding. The floating traffic jams off ports. The multiplying costs of moving freight. The resulting shortages of goods. All of this had seemed like an unpleasant memory confined to the Covid-19 pandemic. No such luck. As head of ocean freight for the…
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