Posts by Yurie Miyazawa
US: Wall St opens lower on pressure from elevated Treasury yields
US main stock indexes opened lower open on Monday (Dec 30), as sparse trading volumes and the spectre of rising Treasury yields cast a cloud over the traditionally strong year-end rally for equities. The Dow Jones Industrial Average fell 128.3 points, or 0.30 per cent, at the open to 42,863.86. The S&P 500 fell 50.2…
Read MoreSingapore stocks buck regional decline to close higher; STI up 0.6%
SINGAPORE stocks ended higher amid thin trading on Monday (Dec 30), despite declines across the region. The Straits Times Index rose 0.6 per cent or 24.1 points to 3,795.73. Across the broader index, gainers beat losers 264 to 206, after 588.2 million securities worth S$676.2 million changed hands. Sembcorp Industries was the top gainer on…
Read MoreSouth Korea orders airline safety probe after worst domestic crash kills 179
SOUTH Korea’s acting President Choi Sang-mok on Monday (Dec 30) ordered an emergency safety inspection of the country’s entire airline operation as investigators worked to identify victims and find out what caused the deadliest air disaster on South Korean soil. All 175 passengers and four of the six crew were killed when a Jeju Air…
Read MoreJeju Air shares slump to record low after deadly plane crash
SHARES of South Korean budget carrier Jeju Air hit their lowest on record on Monday (Dec 30), after the country’s deadliest air crash killed 179 people. Jeju Air shares traded down 8.4 per cent as at 0058 GMT, after falling as much as 15.7 per cent earlier in the session to 6,920 won, the lowest…
Read MoreChina’s top stock of 2024 eyes boost from AI self-reliance
CHINA’S top-performing stock of 2024 is expected to see additional tailwinds into next year from the nation’s drive for greater self-sufficiency in artificial intelligence (AI). Shares of AI chip designer Cambricon Technologies have climbed 383 per cent this year, topping the benchmark CSI 300 Index and driving its market value to US$37 billion. The Shanghai-listed…
Read MoreSingPost says executives were given ‘opportunity to be heard’ before sacking
IN A response to queries from stakeholders, Singapore Post (SingPost) has released a detailed account of its due process leading up to the recent termination of the group’s three senior executives. This ensured that the affected executives were given the opportunity to be heard before the board decided to fire them, said the group in…
Read MoreBanks want in on Tether’s billions in stablecoin profits
UNTIL recently, banks watched from the sidelines with envy as stablecoin market leader Tether Holdings boasted of billions in profits. Now they want in. Earlier this year, Societe Generale – Forge made its Euro-backed stablecoin – which basically represents fiat on a blockchain ledger – available to retail investors. Financial group Oddo BHF SCA is…
Read MoreNvidia supplier Ibiden weighs faster expansion to meet AI demand
IBIDEN, the dominant supplier of chip package substrates used in Nvidia’s cutting-edge semiconductors, may need to dial up the pace of production capacity increases to keep up with demand, according to its chief executive officer. Sales of the 112-year-old company’s artificial intelligence (AI) use substrates are robust with customers buying up all that Ibiden has,…
Read MoreBiggest danger in Trump era is risk of US economy overheating
The president-elect and his supporters seem determined to shake things up, but this could mean market volatility MOST Wall Street strategists anticipate the 2024 rally gaining stronger momentum in 2025. Unfortunately, in the contrarian world of finance, optimism is not always a good sign. Almost everyone agrees that the US economy and stock market are…
Read MoreYen gains as some BOJ policymakers see rate hike soon
THE Japanese yen rose off a five-month low against the dollar on Friday (Dec 27) after a summary of opinions from the Bank of Japan’s (BOJ) December policy meeting showed some policymakers gaining confidence in an imminent rate increase, while the Japanese central bank also cut its monthly bond purchases. Some BOJ policymakers saw conditions…
Read More