Posts by Yurie Miyazawa
China first half gold consumption falls more than 5% as high prices dent jewellery appeal
CHINA’S gold consumption in the first half of 2024 fell by 5.61 per cent from the same year-ago period, data from the Gold Association showed on Sunday (Jul 28), as high prices curbed purchases of gold jewellery. The world’s largest gold user consumed 523.75 tonnes of the precious metal during the January to June period. …
Read MoreChina investors pile into Saudi ETFs as two nations grow closer
CHINESE investors are pouring money into two new exchange-traded funds (ETFs) tracking Saudi Arabian shares as the dismal performance of local equities supercharges demand for overseas assets. The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on Jul 16 with both jumping by the daily 10 per cent limit on…
Read MoreSplurging by the wealthy is polarising Japan’s retail stocks
JAPANESE department store operators are benefiting from increased spending by wealthier shoppers despite the inflationary environment, in contrast to lower-end retailers which are underperforming as people become pickier in what staples they choose to buy. The top three operators by market capitalisation, Isetan Mitsukoshi Holdings, Takashimaya and J Front Retailing, which operates the Daimaru and…
Read MoreSouth Korea to support vendors hit by Qoo10 payment delays, Singapore-based founder pledges compensation
South Korea will provide US$400 million in financial support to small businesses hit by payment delays on two Qoo10 e-commerce platforms, and the Singapore-based firm’s founder pledged to use his own assets to help compensate customers and vendors. Seoul-based Tmon and WeMakePrice have failed to make payments to merchants using their platforms since early July,…
Read MoreRaffles Medical H1 earnings slide 48.8% to S$30.6 million; chairman says insurance must not become ‘arms war’ between companies
If insurance companies continue trying to outdo each other, the risk pool could become untenable, says the group’s executive chair Loo Choon Yong MAINBOARD-LISTED Raffles Medical Group on Monday (Jul 29) reported a net profit of S$30.6 million for the first half ended Jun 30, declining 48.8 per cent from S$59.9 million in the corresponding…
Read MoreRaffles Medical H1 earnings slide 48.8% to S$30.6 million as Covid-19 activities, government grants cease
MAINBOARD-LISTED Raffles Medical Group on Monday (Jul 29) reported a net profit of S$30.6 million for the first half ended Jun 30, declining 48.8 per cent from S$59.9 million in the corresponding year-ago period. Revenue slid 1.4 per cent to S$365.7 million year on year, from S$370.8 million. Earnings per share (EPS) for the period…
Read MoreMarkets face dizzying US politics and mixed earnings reports while awaiting Fed rate cut
Investors should stick to their strategy while maintaining significant exposure to low-risk bonds and cash MANY investors would have been startled this past week by the sudden turn in the race for the White House. It wasn’t just that US President Joe Biden decided to drop out, but that Vice-President Kamala Harris – not a…
Read MoreStable Q2 results for Singapore banks unlikely to beat Q1’s outperformance, but dividend yields remain attractive: analysts
DBS, OCBC and UOB are likely to post resilient, if unspectacular, earnings ahead of impending rate cuts – but it will be difficult to beat the first quarter’s robust results, said analysts. That said, the trio of local banks are still sporting generally attractive dividend yields, they added. The three banks are slated to…
Read MoreIncome says chairman recused himself from Morgan Stanley FA appointment in Allianz deal
INCOME Insurance chairman Ronald Ong had recused himself when Morgan Stanley was appointed as the financial adviser as part of its recent deal with Allianz, the insurer said. In a statement on Saturday (Jul 27), the insurer said that of its 12 directors, 10 are independent. “The full board, including all the independent directors, unanimously…
Read MoreHigh average daily turnover in Singapore stocks not always linked to large caps
THE 200 most traded stocks in Singapore have contributed almost all the S$1.1 billion in average daily turnover (ADT) for the local market in the 2024 year to Jul 24. ADT simply represents the total trading value for the stock over a period, divided by the number of trading days for the period. This provides…
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