Posts by Yurie Miyazawa
TSMC is set to report a strong profit but Trump comments pummel its stock
TAIWAN Semiconductor Manufacturing Company (TSMC), the dominant maker of chips used in artificial intelligence (AI) applications, is expected to report another strong quarterly earnings on Thursday (Jul 18) but its Taipei shares slid 4 per cent, pressured by comments from Donald Trump on the industry. While TSMC’s stock – and the broader Taiwan market –…
Read MoreTSMC rides AI demand to raise Q3 revenue forecast
TAIWAN’S TSMC, the world’s largest contract chipmaker, forecast on Thursday (Jul 18) its revenue in the current quarter will increase by as much as 34 per cent, driven by robust demand for semiconductors used in artificial intelligence. Taiwan Semiconductor Manufacturing Co (TSMC), a major Apple and Nvidia supplier, also posted a second-quarter profit that beat…
Read MoreThaiBev proposes share swap involving Frasers Property, F&N shares
The beverage manufacturer wants to divest its property stakes to become a pure-play F&B business THAI Beverage (ThaiBev) has proposed a share swap which will result in the beverage manufacturer exiting the property business and becoming a pure-play food and beverage company. ThaiBev will transfer its entire 28.78 per cent shareholding in Frasers Property to…
Read MoreSingapore shares fall at Thursday’s open; STI down 0.6%
SINGAPORE shares opened lower on Thursday (Jul 18), after indices in the US and Europe closed mixed overnight. The Straits Times Index (STI) fell 0.6 per cent or 20.25 points to 3,469.32 as at 9.01 am. Across the broader market, losers outnumbered gainers 89 to 29, after 50.5 million securities worth S$86.1 million changed hands.…
Read MoreCampaigners urge UK government to block Singapore-headquartered Shein’s IPO in London
CAMPAIGNERS urge United Kingdom government to block Singapore-headquartered Shein’s initial public offering (IPO) in London A NEW campaign backed by British retail consultant and television personality Mary Portas has launched an online petition calling on the new Labour government to block fast fashion retailer Shein from listing its shares in London. China-founded Shein, known for…
Read MoreOil prices gain 2% on big US storage withdrawal, weaker US dollar
OIL prices climbed about 2 per cent on Wednesday (Jul 17) on a bigger-than-expected weekly drop in US crude stockpiles and as a weaker US dollar overshadowed signs of lower economic growth in China. Brent futures rose US$1.35, or 1.6 per cent, to US$85.08 a barrel by 1.33 pm EDT (1733 GMT), while US West…
Read MoreUS: Tech shares tumble as Dow ends at 3rd straight record high
THE S&P 500 and Nasdaq finished decisively lower on Wednesday (Jul 17) after talk that tech equities are overbought, while the Dow pushed to a third straight record high. Analysts described the development as an inevitable cooling in large tech names including Facebook parent Meta and artificial intelligence player Nvidia, after outsized gains in 2024. …
Read MoreFit, suitability key to Shell Singapore’s strategy and direction
Its product range includes petroleum, lubricants and plastics, as well as cleaner fuels such as sustainable aviation fuel and LNG WHEN news broke of Shell’s sale of its assets on Pulau Bukom including a refinery and ethylene cracker in May, some market watchers read the move as a retreat from Singapore. But Shell Singapore chairperson…
Read MoreUMS Holdings eyes second listing on Bursa Malaysia
It’s part of the group’s strategic goal of growing its manufacturing footprint in the country SEMICONDUCTOR company UMS Holdings is seeking a secondary listing on the main market of Bursa Malaysia. This will allow the group to broaden UMS’ investor reach and widen its investor base, as well as improve the liquidity of its shares…
Read MoreSats, SIA Engineering and CAG to jointly develop autonomous buses for airport staff
AIR cargo handler Sats has signed a memorandum of understanding with aircraft maintenance provider SIA Engineering Company (SIAEC) and Changi Airport Group (CAG) to develop a proof of concept (POC) for autonomous buses to transport airport staff around Changi Airport’s airside. The three companies on Wednesday (Jul 17) said this collaboration is part of Changi…
Read More