Posts by Stephanie Irvin
Asia: Markets extend losses with Wall Street as rate hopes dim
ASIAN markets fell on Thursday, with traders tracking losses on Wall Street fuelled by concerns over rising Treasury yields and fading hopes for US interest rate cuts. The losses in equities extended a more than week-long sell-off that came on the back of forecast-beating data and warnings from Federal Reserve officials that they were in…
Read MoreYen’s relentless slide revives Japan’s interest in structural reforms
JAPANESE policymakers are turning their attention to more structural economic factors behind persistent yen declines, convinced that market intervention is limited in its ability to reverse the currency’s broader slide. Data due out on Friday is likely to show Japan spent roughly 9 trillion yen late April through early May to slow the decline in…
Read MoreGold prices flat ahead of US inflation data
GOLD prices were flat on Thursday (May 30), as investors awaited a key US inflation reading that could provide further insights into the Federal Reserve’s policy path. Spot gold was unchanged at US$2,338.04 per ounce, as at 0125 GMT, after falling 1 per cent in the previous session. US gold futures were down 0.2 per…
Read MoreSingapore shares fall at Thursday’s open; STI down 0.2%
SINGAPORE equities dipped at the opening bell on Thursday (May 30) as overnight declines in US and European markets kept investors on the sidelines. As at 9.01 am, the Straits Times Index (STI) shed 6.8 points or 0.2 per cent to 3,316.4. Across the broader market, losers outnumbered gainers 65 to 32 after 37.8 million…
Read MoreSabana Reit manager mulls Quarz’s proposed amendments to EGM resolutions after court ruling
THE manager of Sabana Industrial Real Estate Investment Trust (Sabana Reit) is considering several modifications to the resolutions proposed by Quarz Capital while seeking legal advice, it said on Wednesday (May 29). The extraordinary general meeting (EGM) requisitionists proposed changes to the resolutions in response to the court ruling updated last Friday that requires trust…
Read MoreLas Vegas Sands CEO sees big surge in Singapore gaming revenue in near future
LAS Vegas Sands (LVS) – the parent company of Singapore’s Marina Bay Sands – will give more details of its upcoming expansion project later this year, said chief executive officer Rob Goldstein at an investor conference on Wednesday (May 29). The new fourth tower was first announced in 2019 and full-scale construction is expected to…
Read MoreUK’s car output down for second straight month in April, says industry body
BRITAIN’S car production fell by 7 per cent year-on-year in April, falling for a second consecutive month, as manufacturers wound down existing models and more plants transitioned to electric vehicle (EV) production, industry data showed on Thursday. A total of 61,820 cars rolled off production lines in April, compared with 66,527 units in the same…
Read MoreViews on US economy ‘more pessimistic’ as uncertainty grows: Federal Reserve
OUTLOOKS on the US economy have become gloomier with reports of rising uncertainty and worries over risks, even though growth broadly continued recently, the Federal Reserve said on Wednesday. The views come as discretionary spending cooled and consumers became more sensitive to costs in recent weeks, while job gains were largely modest to negligible, the…
Read MoreSaudi Arabia set to launch US$10 billion Aramco share sale on Jun 2
SAUDI Arabia is preparing to formally launch a secondary offering of shares in oil giant Saudi Aramco as soon as Sunday (Jun 2) that could raise more than US$10 billion, according to sources familiar with the matter. The government, which is Aramco’s largest shareholder, plans to run a book-building process to gather investor interest until…
Read MoreChina halts shipments from JBS beef plant in US over feed additive
CHINA has blocked beef exports from a major JBS beef plant in the United States after a controversial feed additive was found in meat shipments to the world’s largest buyer. JBS is “working diligently with US and Chinese authorities to resolve the situation as soon as possible”, the Brazilian meat giant said. The plant suspended…
Read More