Posts by Yurie Miyazawa
Wall Street strives to rebound, Tokyo soars after rout
WALL Street stocks sought to rebound on Tuesday (Aug 6) following a global rout fuelled by US recession fears, but European equities failed to hold onto early gains. Tokyo’s Nikkei, which tanked more than 12 per cent on Monday and suffered a record points loss, jumped 10.2 per cent to close at 34,675.46 points. Traders…
Read MoreEmerging-market equities get crushed in worst day since 2022
DEVELOPING world stocks plunged as concerns about a US economic slowdown sent volatility surging across global financial markets. An MSCI gauge for emerging-market equities ended the session 4.2 per cent lower on Monday (Aug 5), capping its worst day since February 2022. Asian technology shares led declines as traders weigh the odds of an emergency…
Read MoreSembcorp H1 profit up 2% to S$540 million on absence of loss from discontinued operation
The results translate to an earnings per share of S$0.303, up from S$0.2971 the year before ENERGY and urban solutions provider Sembcorp Industries posted a 2 per cent increase in net profit to S$540 million for the first half ended June, from S$530 million in the previous corresponding period. This translated to earnings per share…
Read MoreStocks to watch: Sembcorp, CapitaLand Ascott Trust, Paragon Reit, Lendlease Global Reit, CSE Global, Cordlife
THE following companies saw new developments that may affect trading of their securities on Tuesday (Aug 6): Sembcorp Industries: The energy company on Tuesday posted an 11 per cent fall in net profit to S$540 million for the first half ended June, from S$608 million in the previous corresponding period. Its board has approved an…
Read MoreDell cuts workers in sales team reorganisation with new AI-focused unit
DELL Technologies is cutting jobs as part of a reorganisation of its sales teams that includes a new group focused on artificial intelligence (AI) products and services. “We are getting leaner,” sales executives Bill Scannell and John Byrne wrote on Monday (Aug 5) in a memo to Dell employees. “We are streamlining layers of management…
Read MoreNvidia’s Jensen Huang sold US$323 million of stock in July before decline
NVIDIA’s Jensen Huang continued his summer of selling, offloading a record US$322.7 million worth of shares in July just ahead of a wider tech stock sell-off. Combined with the shares he unloaded in June, the chipmaker’s co-founder and chief executive officer has sold almost US$500 million worth since the stock hit its peak amid an…
Read MoreUS banks tumble as weak economic data sparks recession fears
US BANK stocks slumped on Monday (Aug 5) as fears of a recession sent investors fleeing from a sector closely tied to the health of the economy and towards safe-haven assets. Citigroup led big bank losses with a near 5 per cent fall. Wells Fargo, Morgan Stanley and Goldman Sachs fell about 4 per cent…
Read MoreUS: Wall Street tumbles on growing recession worries
WALL Street’s main indexes tumbled on Monday (Aug 5), as fears of the United States tipping into recession following weak economic data last week rippled through global markets. The Dow Jones Industrial Average fell 681.07 points, or 1.7 per cent, at the open to 39,056.19. The S&P 500 opened lower by 195.42 points, or 3.7…
Read MoreMagnificent Seven set to shed US$1 trillion in value, led by Apple, Nvidia
APPLE and Nvidia led a sell-off in technology stocks on Monday (Aug 5) as US recession fears and Berkshire Hathaway’s decision to cut its stake in the iPhone maker punctured a months-long rally in the sector. High-performing shares of Alphabet, Amazon, Meta Platforms, Microsoft and Tesla fell as much as 12.2 per cent in premarket…
Read MoreTikTok, bowing to EU, withdraws rewards programme
TIKTOK will permanently remove a feature in a spinoff app in France and Spain that rewards users for watching and liking videos, bowing to pressure from European regulators, the EU and the Chinese-owned company said on Monday (Aug 5). TikTok Lite arrived in France and Spain – the only EU countries where it is available…
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