Posts by Yurie Miyazawa
HKMA cuts interest rate, tracking US Fed move
Hong Kong interest rates could remain at relatively high levels for some time, says chief executive THE Hong Kong Monetary Authority (HKMA) on Thursday (Dec 19) cut its base interest rate charged via the overnight discount window by 25 basis points to 4.75 per cent, tracking a move by the US Federal Reserve. “The pace…
Read MoreMalaysian Resources has exited high-speed rail bid, says partner Berjaya
MALAYSIAN Resources has withdrawn from a consortium that is bidding for a proposed multi-billion dollar high-speed rail (HSR) line between Kuala Lumpur and Singapore, according to one of its partners, Berjaya Group. Malaysian Resources decided to withdraw from the consortium “to pursue other strategic opportunities”, Berjaya said. Malaysian Resources could not immediately be reached for…
Read MoreMalaysian Resources exits high-speed rail bid, Berjaya says
MALAYSIAN Resources has withdrawn from a consortium that is bidding for a proposed multi-billion dollar high-speed rail line between Kuala Lumpur and Singapore, according to one of its partners, Berjaya Group. Malaysian Resources decided to withdraw from the consortium “to pursue other strategic opportunities”, Berjaya said. Malaysian Resources could not immediately be reached for a…
Read MorePBOC offers strongest yuan support since July after US dollar gains
CHINA ramped up support for the currency via its daily reference rate after US Federal Reserve’s caution over future interest rate cuts boosted the US dollar and sent the offshore yuan to a fresh one-year low. The People’s Bank of China (PBOC) set the so-called fixing 1,232 pips stronger than the average estimate in a…
Read MoreBank of England set to skip rate cut as stagflation looms
THE Bank of England (BOE) is likely to warn of only gradual interest-rate cuts in 2025, ending the year with a cautious message to investors as the spectre of stagflation – anaemic growth and sticky inflation – hangs over the British economy. Markets and economists expect the nine-member Monetary Policy Committee (MPC) to keep the…
Read MoreSTI retreats 0.5% after US Fed signals fewer rate cuts; bank shares, Reits fall
SINGAPORE shares traded in negative territory on Thursday (Dec 19) afternoon, tracking broader losses in Asia after the US Federal Reserve signalled fewer interest rate cuts next year. As at 3.45 pm, the Straits Times Index (STI) fell 0.5 per cent or 19.72 points to 3,759.90. Across the broader market, losers outnumbered gainers 332 to…
Read MoreUS backs off effort to recall about 50 million airbag parts
US AUTO safety regulators backed down from forcing a recall of about 50 million airbag inflators they have said could explode in a crash, de-escalating a fight that has dragged on for years. The National Highway Traffic Safety Administration (NHTSA) said in a new filing that “further investigation is warranted” before it can finalise a…
Read MoreStocks to watch: Asia-Pacific Strategic Investments
THE following company saw developments that may affect the trading of its securities on Thursday (Dec 19): Asia-Pacific Strategic Investments: The Catalist-listed company has agreed to operate and manage two airports in Timor-Leste, marking its potential entry into the aviation infrastructure sector. On Wednesday, the group said its proposed diversification will require the approval of…
Read MoreApple halts effort to build iPhone hardware subscription service
APPLE has halted work on a project to build an iPhone hardware subscription service, according to sources familiar with the matter, retreating from an attempt to change the way consumers buy its flagship device. The idea was to make owning an iPhone such as subscribing to an app – with consumers paying monthly fees and…
Read MoreReturn of the Reits? Singapore’s IPO scene set to come alive after subdued year
However, industry watchers remain cautious amid the return of Donald Trump as his policies may keep inflation up, slowing the pace of rate cuts SINGAPORE’S status as a real estate investment trust (Reit) stronghold is likely to result in higher initial public offering (IPO) activity next year, as possible rate cuts will encourage new Reit…
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