Posts by Yurie Miyazawa
Simon Cheong’s AVJennings attracts S$326 million privatisation offer from US fund
SINGAPORE and Sydney dual-listed property player AVJennings (AVJ), which is controlled by real estate tycoon Simon Cheong, is set to be taken private after American real estate fund Proprium Capital Partners made an offer at 67 Australian cents per share. The offer price, which values the company at A$374 million (S$326 million), represents a 103…
Read MoreOil settles down as ease of supply risks drives weekly loss
OIL prices edged lower on Friday (Nov 29) and posted a weekly decline of more than 3 per cent, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as Opec+ is expected to extend output cuts. Brent crude fell 34 US cents, or 0.5…
Read MoreEurope: Tech surge propels Stoxx 600 to near one-week high
EUROPE’S Stoxx 600 ended the week on a high note, bolstered by a rally in tech stocks, while investors analysed the euro zone inflation report to assess the likelihood of a larger interest rate cut in December. The pan-European main stock index reversed earlier losses and was up 0.6 per cent at 510.25 points on…
Read MoreA vintage year for US stock markets that few people expected
A YEAR ago, equity investors and strategists braced for a potentially turbulent 2024, worrying about the risk of a hard landing for the US economy and interest-rate cuts that could come too late to prevent it. Fast forward to now: 2024 is set to enter Wall Street’s hall of fame of bull years. Heading…
Read MoreUS: Wall St opens higher in shortened Black Friday session
US STOCKS opened slightly higher on Black Friday (Nov 29), with Wall Street’s main indexes set for monthly gains as the holiday shopping season kicked off, putting retail companies in the spotlight. The Dow Jones Industrial Average rose 38.0 points, or 0.08 per cent, at the open to 44,760.05. The S&P 500 rose 5.2 points,…
Read MoreHong Kong bourse’s deputy CEO Wilfred Yiu to retire
HONG Kong Exchanges and Clearing on Friday (Nov 29) said Yiu Ka Yan, Wilfred will retire from all his positions held within the group, including as the stock exchange and futures exchange’s head, by the year-end. The positions Wilfred Yiu will step down from include the deputy CEO of the Hong Kong Exchanges and Clearing…
Read MoreLogistics provider GLP is considering a Hong Kong listing in 2025
Logistics company GLP is considering a Hong Kong listing that could happen as early as next year, eight years after the Singapore-incorporated firm was taken private by an investor group, three sources with direct knowledge of the matter said. GLP has held early stage discussions with a small number of financial advisers about the relisting…
Read MoreHSBC pulling back from China credit card business after struggling to expand: sources
HSBC is pulling back from its credit card business in China eight years after its launch, as the lender struggled to expand and make the enterprise profitable in the world’s second-largest economy, sources with knowledge of the matter said. The Asia-focused bank has stopped issuing new cards and is working towards winding down the service…
Read MoreUS Bitcoin ETFs head for record monthly inflow on Trump optimism
A GROUP of one dozen US Bitcoin exchange-traded funds (ETFs) is on the cusp of a record monthly net inflow, bolstered by the digital asset’s historic surge towards US$100,000 on president-elect Donald Trump’s embrace of crypto. The ETFs from issuers including BlackRock and Fidelity Investments have attracted US$6.2 billion so far in November, data compiled…
Read MoreMUFG considers buyout of Japanese robo adviser WealthNavi
MITSUBISHI UFJ Financial Group (MUFG) is considering a bid to take over Japanese robo-advisory firm WealthNavi, as it looks to expand its financial-technology capabilities and cater to households going online to invest more of their savings. Japan’s biggest bank will discuss the matter at a management meeting on Friday (Nov 29), it said, adding that…
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