Posts by Yurie Miyazawa
China central bank asks some institutions to report daily long-term bond holdings: sources
CHINA’S central bank asked some financial institutions to report daily changes in their long-term treasury bond positions and balances, four people familiar with the matter said on Monday (Aug 5), as a bond market rally reached unprecedented levels. Demand for China’s sovereign bonds has surged this year, with yields hitting record lows, as investors seek…
Read MoreIncome Insurance needs adequate capital in order to stay financially sustainable: NTUC
INCOME Insurance needs adequate capital in order to stay financially sustainable, National Trades Union Congress (NTUC) leaders said on Monday (Aug 5), following public unhappiness over its proposed sale of a majority stake in the insurer to German financial giant Allianz. In a joint statement, NTUC president K Thanaletchimi and secretary-general Ng Chee Meng said…
Read MoreJapan’s Nikkei plummets 13% in biggest rout since 1987 Black Monday
JAPANESE stocks collapsed on Monday (Aug 5) in their biggest single day rout since the 1987 Black Monday sell-off, driven by last week’s plunge in global stock markets, economic concerns and worries investments funded by a cheap yen were being unwound. The Nikkei share average shed a staggering 12.4 per cent as Friday’s dismal US…
Read MoreApple supplier stocks slump after Berkshire nearly halves stake
THE shares of Apple’s suppliers slumped after Berkshire Hathaway nearly halved its stake in the iPhone maker. The decline came amid a broad market selloff on Monday (Aug 5). Taipei-listed iPhone assembler Hon Hai Precision Industry and chipmaker Taiwan Semiconductor Manufacturing slid about 10 per cent each. Among component makers Murata Manufacturing tumbled 15 per…
Read MorePrudential taps former Citi executive to be new Greater China CEO
PRUDENTIAL has appointed Angel Ng, a former senior leader at Citi, as its new chief executive officer for its Greater China, customer and wealth businesses. Ng will take over the role from Lilian Ng, managing director of Prudential’s strategic business group, who will retire at the end of this year. Angel Ng reports…
Read MoreBitcoin sinks 10%, extending losses after worst week since
BITCOIN is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022. The original cryptocurrency sank more than 10 per cent at one point before paring some of the decline to trade at US$54,333…
Read MoreBond traders bet big on the Fed launching into rescue mode
BOND traders are piling into bets that the US economy is on the verge of deteriorating so quickly that the Federal Reserve will need to start easing monetary policy aggressively to head off a recession. Previous worries about the risk of elevated inflation have virtually disappeared, swiftly giving way to speculation that growth will stall…
Read MoreAEM expects AI supercycle to lift its fortunes
AS SHE entered AEM Holdings’ seven-storey office in Serangoon North for the first time, chief executive Amy Leong said she was impressed…
Read MoreBerkshire halves Apple stake, boosts cash to US$277 billion as it gets ‘defensive’
Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly US$277 billion and selling about half its stake in Apple, even as the conglomerate posted a record quarterly operating profit. Berkshire’s results released on Saturday (Aug 3) suggest the 93-year-old Buffett, one of the world’s most revered investors, is…
Read MoreSingaporean David Yong, from Netflix’s Super Rich in Korea, charged with falsification of accounts
Singaporean businessman David Yong has been charged with falsification of accounts in relation to a promissory note arrangement involving Evergreen Group Holdings. The 37-year-old chief executive of Evergreen Group Holdings, whose full name is Yong Khung Lin, was arrested on Aug 1 and charged on Aug 3. He is accused of having the intention to defraud…
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