Posts by Yurie Miyazawa
Great rotation trade sees investors dump AI giants for less obvious stocks
SIGNS that equity investors are getting cold feet over the rapid advances in artificial intelligence (AI) leaders have put a spotlight on some less obvious beneficiaries of the technology boom. A sevenfold surge in shares of Nvidia since the launch of ChatGPT in late 2022 helped drive a megacap-led rally around the world. But concerns…
Read MoreChangi Airport’s Q2 passenger movements reaches 98.2% of pre-pandemic level
CHANGI Airport had around 16.5 million passengers passing through in the second quarter of 2024, up 13.4 per cent compared to a year prior. This also represents 98.2 per cent of passenger movements that went through it in Q2 2019, before the Covid-19 pandemic, said Changi Airport Group (CAG) on Friday (Jul 26). The…
Read MoreESR buys remaining 12.3% stake in Logos Property Group
REAL estate investment manager ESR Group will acquire the remaining 12.3 per cent stake in Logos Property Group, which will become an indirect wholly owned subsidiary when the transaction is completed, it announced on Friday (Jul 26). ESR held an 86.4 per cent indirect interest in logistics real estate company Logos in early May, with…
Read MoreTSMC set to join global tech rout after typhoon trading break
A SELL-OFF in Taiwan Semiconductor Manufacturing Company (TSMC) shares looks almost inevitable when trading resumes after a two-day typhoon break, during which global investors dramatically soured on the promises of artificial intelligence (AI). Investors sold off US Big Tech stocks over the past couple of sessions, as lacklustre earnings from Tesla and Alphabet set off…
Read MoreFirst Reit posts 3.2% lower H1 DPU at S$0.012
The manager attributes the drop in the distributable amount to the depreciation of the yen and rupiah against the Singapore dollar FIRST Real Estate Investment Trust (First Reit) on Friday (Jul 26) posted a distribution per unit (DPU) of S$0.012 for the first half ended Jun 30, 2024, down 3.2 per cent from the same…
Read MoreCapitaLand Ascott Trust H1 DPS falls 8% to S$0.0255; CEO says top up to distribution is ‘an option’
The managers attribute the decline mainly to the depreciation of foreign currencies against the Singapore dollar CAPITALAND Ascott Trust (Clas) posted an 8 per cent drop in distribution per stapled security (DPS) to S$0.0255 for the first half ended Jun 30, from S$0.0278 in the year-ago period. On Friday (Jul 26), the managers attributed this…
Read MoreShipping giant CMA CGM reports solid volumes, sees rates peaking
CMA CGM, the world’s third-largest container carrier, reported a second-quarter jump in cargo volumes and signalled freight rates have probably peaked for now despite bottlenecks at Mediterranean ports. The French company controlled by billionaire Rodolphe Saade and his family said shipping volumes increased by 6.8 per cent from April to June, led by household demand…
Read MoreGM’s cruise targets resumption of driverless rides this year
CRUISE, the self-driving vehicle unit majority owned by General Motors (GM), is targeting a return to running fully autonomous rides later this year and possibly charging fares by early 2025, said sources familiar with the matter. The San Francisco-based company has been trying to regain traction after grounding its fleet in October following the mishandling…
Read MoreHermes sales jump as Birkin bag maker outperforms peers
HERMES sales jumped in the second quarter as the Birkin bag maker weathered the luxury demand slowdown better than peers, thanks to its reliance on the wealthiest clients. Revenue at constant exchange rates rose 13.3 per cent, Hermes International said on Thursday (Jul 25), above analysts’ expectations. First-half recurring operating income amounted to 3.2 billion…
Read MoreFirst Sponsor’s H1 net profit climbs 12.4% to S$11.9 million
FIRST Sponsor Group on Thursday evening (Jul 25) reported a net profit of S$11.9 million for the half year ended Jun 30, up 12.4 per cent from S$10.6 million a year ago. This was despite significantly higher net financing cost in H1 2024, said the company, which operates in property development, property holding and property…
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