Posts by Yurie Miyazawa
ECB’s chief supervisor presses for cross-border mergers
THE European Central Bank’s chief supervisor pressed her case for cross-border bank mergers on Friday (Oct 4) as Italy’s UniCredit considered a bid for Germany’s Commerzbank after taking a large stake last month. Europe’s biggest banks tend to focus on their home markets, making them relatively small and inefficient compared to their US peers, but…
Read MoreAsia currencies set for worst week in year as Fed cut bets pared
ASIAN currencies are set for their worst week in more than a year as traders pare bets on aggressive US Federal Reserve interest-rate cuts. A Bloomberg gauge of Asian currencies has slumped 0.8 per cent this week, on track for its biggest fall since September 2023. The Malaysian ringgit, Indonesian rupiah and Thai baht lead…
Read MoreAsia: Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
OIL prices stabilised on Friday (Oct 4) after soaring on fears about the Middle East crisis as investors await Israel’s response to Iran’s missile attack, while shares in Hong Kong resumed their rally on a mixed day for equity markets. Speculation about Israel’s response to the scores of missiles fired at it on Tuesday has…
Read MoreCitadel boosts Asia fundamental equities headcount past 60
CITADEL’S US$64 billion hedge fund business has increased its Asia fundamental equities headcount to more than 60 people in just over three years, according to sources familiar with the matter. Two portfolio managers, Doris Yang and Jerry Jiang, are set to start early next year, bringing the number of pods in the region under that…
Read MoreUS port strike ends, leaving cargo backlog
US East Coast and Gulf Coast ports began reopening late on Thursday (Oct 3) after dockworkers and port operators reached a wage deal to settle the industry’s biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time. The strike ended sooner than investors had expected, weakening shipping stocks across…
Read MoreCisco nears investment in CoreWeave at US$23 billion valuation
CISCO Systems agreed to invest in CoreWeave, a cloud-computing provider that’s among the hottest startups in artificial intelligence (AI), as part of a transaction that values the company at US$23 billion, according to sources with knowledge of the matter. CoreWeave, led by chief executive officer Michael Intrator, has been discussing a so-called secondary transaction that…
Read MoreTesla plans four new batteries in 2026, including for robotaxi: report
TESLA plans to design four new versions of its in-house battery to power the Cybertruck, its forthcoming robotaxi and other electric vehicles (EVs), The Information reported on Thursday (Oct 3), citing sources with knowledge of its plans. The Elon Musk-led firm currently sources most of its EV batteries from other companies, including Panasonic Energy and…
Read MoreUS: Stocks fall amid caution over Middle East
WALL Street stocks slipped on Thursday (Oct 3), extending a downcast week as markets assessed tensions in the Middle East and awaited key US jobs data. Oil prices jumped after President Joe Biden told reporters he was discussing possible Israeli retaliatory strikes on Iranian oil facilities. The move lifted petroleum-linked equities but pressured the broader…
Read MoreChina’s WuXi explores sale of pharma operations as US restrictions loom: FT
WUXI AppTec and WuXi Biologics are planning to sell some of their operations after the Chinese biotech companies were targeted by the US on national security grounds, the Financial Times reported on Thursday (Oct 3). WuXi AppTec has put its cell and gene therapy manufacturing unit WuXi Advanced Therapies, which operates four laboratories and manufacturing…
Read MoreSingapore stocks fall as regional bourses end mixed; STI down 0.2%
Across the broader market, decliners beat advancers 340 to 261, after 1.3 billion shares worth S$1.3 billion change hands SINGAPORE shares were in the red on Thursday (Oct 3) as regional exchanges ended mixed. The Republic’s benchmark Straits Times Index (STI) fell 0.2 per cent or 7.24 points to 3,577.43. Across the broader market, decliners…
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