Posts by Yurie Miyazawa
Brokers’ take: Maybank raises Dyna-Mac target on higher earnings forecast
MAYBANK Securities raised its target price on Dyna-Mac, after the offshore oil and gas contractor said it expects a “significant improvement” in net profit for the first half of 2024. On Friday (Jul 19), analyst Jarrick Seet lifted the stock’s target price to S$0.62 from S$0.52, after raising profit after tax and minority interests forecasts…
Read MoreJapan’s Nikkei ends at a 3-week low as chip-related stocks decline
Japan’s Nikkei share average ended at a three-week low on Monday (Jul 22), extending its decline to a fourth session, as chip-related stocks tumbled after their Wall Street peers closed sharply lower in the previous session. The Nikkei fell 1.16 per cent to 39,599, its lowest close since June 28 in its longest losing streak…
Read MoreGold expected to scale new heights
The price of gold continued to appreciate recently, recording a new all-time high on Jul 16 when it traded above the previous high of US$2,450 per ounce level recorded in May this year. The precious metal’s recent advance was fuelled by increased optimism that the Federal Reserve will begin cutting rates from September following its…
Read MoreBig Tech stock slump amps up pressure to deliver on earnings
THE stakes were already elevated for technology giants heading into this earnings season. They just got a lot higher after the worst week for the Nasdaq 100 Index in three months. After driving the rally in US stocks for most of the year, Big Tech slammed into a wall last week. Investors rotated from high-flying…
Read MoreNippon Steel hires Pompeo to help clinch purchase of US Steel
NIPPON Steel has hired former US Secretary of State Mike Pompeo to help complete a proposed purchase of United States Steel, a deal facing bipartisan opposition from Donald Trump and President Joe Biden. Pompeo, who served as the top American diplomat under Trump, will be an adviser to the Japanese company for its US$14.1 billion…
Read MoreAirlines start digging themselves out of epic flight disruptions
AIRLINES began slowly resuming some operations following a chaotic start to the day in the wake of a widespread global software meltdown, with thousands of delayed or cancelled flights that risk leaving the system bent out of shape for days. United Airlines said it started up some operations after all fights had been previously grounded.…
Read MoreGold eases from record highs on firmer US dollar, profit-taking
GOLD prices dipped more than 1 per cent on Friday (Jul 19), as the US dollar firmed and some investors locked in profits following the metal’s recent surge on increasing expectations of US interest-rate cuts in September. Spot gold was down 1.4 per cent to US$2,411.78 per ounce by 1025 GMT. Bullion hit an all-time…
Read MoreWell-known Chinese bar brand Helens gets secondary listing on SGX
Helens International Holdings, which owns a leading pub network in China called Helen’s Bar, debuted on the Singapore Exchange (SGX) on Friday (Jul 19) in a secondary listing. It currently has more than 500 outlets across mainland China and Hong Kong, as well as three branches in Singapore in popular areas such as Orchard Central…
Read MoreMUFG heads to take pay cut after information firewall breach
MITSUBISHI UFJ Financial Group top executives will take pay cuts as Japan’s largest banking group seeks to restore client confidence after breaching information firewalls. Chief executive officer Hironori Kamezawa will see his salary reduced by 30 per cent for three months while chairman Kanetsugu Mike’s compensation will be cut by a similar amount for five…
Read MoreChina quants defend sector amid calls to ban algorithmic trades
CHINA’S top quantitative hedge funds are defending the beleaguered industry against pundit calls to ban algorithm-driven trading following regulatory tightening. Yanfu Investments and Zhejiang High-Flyer Asset Management, two of the largest quants managing more than 100 billion yuan (S$18.5 billion) combined, published rare articles this week in response to “misconceptions” about quant investing. Quants are…
Read More