Posts by Yurie Miyazawa
Brokers’ take: RHB raises Sheng Siong price target to S$2 on earnings growth momentum
RHB on Wednesday (Oct 30) raised its price target for Sheng Siong to S$2 from S$1.88 and kept its “buy” call on the counter. The new price target represents a roughly 25 per cent upside from Sheng Siong’s Wednesday closing price of S$1.59 following the Tuesday release of its earnings, which included higher earnings estimates…
Read MoreOlam in advanced talks to sell rest of US$4 billion agribusiness to Saudis
Saudi Agricultural & Livestock Investment Company now holds a 35.4% minority stake in Olam Agri after investing US$1.24 billion in the unit OLAM Group’s remaining 64.57 per cent stake in its agribusiness unit may be sold off to a state-owned Saudi investment firm that already owns more than a third of Olam Agri. Citing people…
Read MoreApple disappoints investors with tepid forecast, China weakness
APPLE Inc, heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market. Following the company’s quarterly earnings report, Apple said that total sales in the December period will rise by a percentage in the low-to-middle single digits. Analysts had been…
Read MoreGold ETFs shine on rising interest from the West
Rate cuts by central banks reducing opportunity cost of holding the precious metal GOLD has long been a favourite among Asian investors. Now, rising interest in gold exchange-traded funds (ETFs) among investors in the West is helping the precious metal to regain its shine. After registering net global outflows for nine consecutive quarters, gold ETFs…
Read MoreTotalEnergies’ profit drops more than expected as oil prices fall
TOTALENERGIES reported a bigger-than-expected drop in profit for the third quarter as refining margins and oil prices fell. Following a period of unusually high oil and gas prices in recent years, earnings at the French energy giant and its peers are now normalising as weak economic growth in Europe and China undermines demand. That’s putting…
Read MoreMerck narrows sales outlook with Gardasil lagging in China
MERCK lowered the top end of its full-year sales guidance after demand for its HPV vaccine fell for a second straight quarter in China. Sales of the Gardasil shot, which is given to teenagers and young adults to prevent a virus linked to some cancers, were US$2.3 billion in the third quarter, down 11 per…
Read MoreUS: Wall St opens lower after Meta, Microsoft cost warnings
WALL Street’s main indexes opened lower on Thursday (Oct 31) as warnings from Meta Platforms and Microsoft about rising AI costs sobered some of the buzz around megacap stocks, which have been the market’s primary driver this year. The Dow Jones Industrial Average fell 185.2 points, or 0.44 per cent, at the open to 41956.34.…
Read MoreHong Kong’s underwater mortgages hit 22-year high on weak market
The value of negative-equity loans reached HK$207.5 billion in end-September, up from HK$155 billion in June THE value of mortgages in Hong Kong that have exceeded the worth of the homes jumped to the highest level in more than two decades as the city’s property market continues to struggle. The value of negative-equity loans reached…
Read MoreStrong wealth segment likely to boost Q3 earnings at Singapore banks: analysts
They expect local lenders to continue posting stable results amid lower net interest margins STRONG wealth management fees are likely to have continued boosting earnings at the three local banks during the third quarter of this year, according to analysts awaiting the results of DBS, OCBC and UOB. A slower-than-expected contraction in net interest margins…
Read MoreShell reports drop in Q3 net profit
BRITISH energy major Shell on Thursday (Nov 1) announced a sharp drop in net profit for the third quarter, as it was hit by lower oil prices and weaker refining margins. Profit after taxation fell to US$4.3 billion in the three months to September, after a net profit of US$7 billion in the same period…
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