Posts by Yurie Miyazawa
Brokers’ take: UOBKH upgrades Keppel DC Reit to ‘buy’ on positive rental reversions
BROKERAGE firm UOB Kay Hian (UOBKH) has upgraded its call on Keppel DC Real Estate Investment Trust (Reit) to “buy” from “hold”, and raised its target price to S$2.09, from S$1.98. This comes after the trust surpassed the firm’s expectations for the first half, with a positive rental reversion of more than 40 per cent…
Read MoreGold prices set for monthly gain; traders eye Fed verdict
GOLD prices held steady on Wednesday (Jul 31) and headed for a monthly gain, supported by rising optimism surrounding US interest rate cuts, while the focus shifted to the Federal Reserve’s policy verdict due later in the day. Spot gold held its ground at US$2,407.85 per ounce, as at 0200 GMT, and has gained more…
Read MoreNetflix kicks off first-ever bond sale in US high-grade market
NETFLIX received more than US$19 billion of orders for its first investment-grade bond sale, according to sources with knowledge of the matter. The streaming giant sold US$1.8 billion of debt in two parts, according to a source familiar with the matter. The longer portion of the deal, a 30-year bond, yields one percentage point over…
Read MoreFed expected to hold rates and signal September cut
FEDERAL Reserve officials are likely to move closer to lowering interest rates from a two-decade high this week by signalling a potential rate cut in September, though they may stop short of providing details beyond that. The US central bank’s Federal Open Market Committee (FOMC) will keep its benchmark rate in a range of 5.25…
Read MoreAMD forecasts US$4.5 billion of AI chip revenue this year, shares jump 7%
ADVANCED Micro Devices (AMD) forecast third-quarter revenue above market estimates on Tuesday (Jul 30), banking on demand for its artificial intelligence (AI) chips staying strong. Shares of the Santa Clara, California-based company rose 7 per cent in extended trading. AMD benefits from large cloud operators buying the company’s AI and other chips. Some view the…
Read MoreUS: Wall St opens higher ahead of Big Tech results, Fed verdict
Wall Street’s main indexes opened higher on Tuesday (Jul 30), as cautious investors awaited the day’s Big Tech earnings and labour numbers and hoped for clues on the timing of interest-rate cuts in this week’s US policy decision. The Dow Jones Industrial Average rose 82.2 points, or 0.20 per cent, at the open to 40,622.13.…
Read MorePan-United H1 net profit up 34% to S$18.6 million
Revenue in H1 has risen 7 per cent to S$384.7 million, 7 per cent higher than the S$360.2 million figure in the year before PAN-UNITED Corporation posted a net profit of S$18.6 million in the first half of the year, 34 per cent more than S$13.9 million in the corresponding year-ago period. Revenue in H1…
Read MoreMerck cuts annual profit forecast
Merck on Tuesday (Jul 30) cut its full-year earnings forecast, mainly due to one-time charges from its acquisition of eye-focused drug developer EyeBio. Merck now expects 2024 earnings of US$7.94 to US$8.04 per share, down from its earlier forecast of US$8.53 to US$8.65, as it took a US$1.3 billion charge related to its acquisition of…
Read MoreMaybank appoints Alice Tan as head of group wealth management
She joined the company in 2014, and was among the pioneers of its private wealth-management business MAYBANK Singapore on Tuesday (Jul 30) said that it appointed Alice Tan as its head of group wealth management. She takes on the role on Aug 1. She will continue in her current role as the head of wealth…
Read MoreChinese solar firm forced into bankruptcy as supply glut bites
MORE Chinese solar manufacturers are falling into restructuring or bankruptcy, with a deepening oversupply and fierce price wars causing massive financial losses and threatening many smaller players’ survival. A subsidiary of Zhejiang Akcome New Energy Technology was the latest to declare bankruptcy after it was ordered by a court to undertake a reorganising process after…
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