Posts by Yurie Miyazawa
Mercedes-Benz, Porsche choose Singapore for high-profile global debuts
Such unveilings – rare outside the US, Europe and China – attest to the Republic’s growing status as a regional platform A LIMITED-EDITION Mercedes-Benz sports car made its global debut – not at Pebble Beach or Goodwood – but at Singapore’s Gardens by the Bay on Thursday (Sep 19). The German luxury carmaker launched the…
Read MoreChina yuan closes at near 16-month high on rising stimulus hope
CHINA’S yuan recovered all intraday losses on Thursday (Sep 19) to close near a 16-month high against the US dollar, underpinned by rising market expectations that Federal Reserve’s easing offered Beijing leeway on its own monetary policy. The onshore yuan ended the domestic trading session at 7.0660 per US dollar at 0830 GMT, the strongest…
Read MoreBofA now expects Fed to go for 75-bp cut in Q4 after bumper rate reduction
BofA Global Research raised its forecast for the Federal Reserve’s anticipated interest rate cuts for the remainder of this year to 75 basis points, after the US central bank kicked off a widely expected series of reductions on Wednesday (Sep 18). The Fed announced a larger-than-usual half-percentage-point reduction that chair Jerome Powell said was meant…
Read MoreHong Kong probe finds Cathay Airbus defect could cause ‘extensive’ damage
An engine defect in the Airbus A350 plane that led to the cancellation of dozens of Cathay Pacific flights in early September could have escalated into “extensive damage”, according to the results of a Hong Kong probe released on Thursday (Sep 19). Hong Kong-based Cathay briefly grounded its fleet of A350s for inspections and repairs…
Read MoreVietnam removes pre-funding rule for foreigner investors in bid for market upgrade
VIETNAM will remove a requirement for full pre-funding on equity transactions of foreign investors from Nov 2, its finance ministry said, the country’s latest effort to boost the chances to be reclassified as an emerging market. Currently, overseas investors must fully transfer funds before buying securities, a hurdle that has hampered for years the upgrade…
Read MoreMarket fundamentals limit rate cut support to commodity prices; gold set to inch higher: analysts
On the oil market, rate cuts would only indirectly affect the prices as it secures the US economy’s soft landing THE commodity sector in general will be supported by the Federal Reserve’s 50 basis point cut as lower rates would reduce opportunity costs of carry, increase trading activities and support prices quoted in US dollars. …
Read MoreQuick takes on US Federal Reserve’s half-point cut
THE US Federal Reserve has cut rates by 50 basis points (bps), a move aimed at boosting a cooling job market while continuing to push down on inflation. Fed chair Jerome Powell said: “This decision reflects our growing confidence that with an appropriate recalibration of our policy stance, strength in the labour market can be…
Read MoreSK Hynix shares tumble on double downgrade at Morgan Stanley
SHARES of SK Hynix plunged, leading peers lower, after Morgan Stanley cut its rating on the Korean memory chipmaker two notches citing its fading pricing power. The stock dropped as much as 11 per cent to the lowest level since Feb 8. Among other Seoul-listed semiconductor shares, Hanmi Semiconductor fell as much as 8.2 per…
Read MoreYouTube launches new TV-focused tools for creators
YOUTUBE beefed up tools for creators on Wednesday as it competes with streaming rivals such as Netflix on the biggest screen in most homes: the television. The Alphabet-owned video-sharing platform popular on computers, tablets and smartphones has been gaining audiences on televisions as “smart” TVs linked to the internet have become common. YouTube’s subscription streaming…
Read MoreBoeing furloughs thousands as it hunkers down for extended strike
BOEING said on Wednesday it will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes. “We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers and employees,” CEO Kelly Ortberg…
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