Posts by Yurie Miyazawa
Asia: Yen weakens further to put focus on Tokyo, Asian equities rise
THE yen extended losses to a fresh 38-year low on Friday (Jun 28), putting investors on guard for a possible intervention by Japanese authorities ahead of the release of key US inflation data later in the day. Asian equity markets advanced following a positive lead from Wall Street, though there is speculation of a possible…
Read MoreTencent rides hit game for China’s biggest gain in market value
A HOT new online game is refuelling investor optimism for Tencent Holdings, driving China’s biggest stock boost of 2024. Its shares have rallied 28 per cent so far this year with help from the strong debut of Dungeon & Fighter Mobile (DnF Mobile), adding US$91 billion in market value, more than any other Chinese company.…
Read MoreJapan’s benchmark Topix stock index is heading for 1990 high
JAPAN’S Topix index is on course to regain its 34-year high as the equity benchmark finds support from financial stocks that benefit from higher interest rates, and as more companies take steps to improve shareholder returns. The nation’s broadest equities gauge climbed to as high as 2816.62, above its Mar 22 peak and heading for…
Read MoreSingapore shares dip at Friday’s open; STI down 0.1%
SINGAPORE stocks began trading in negative territory on Friday (Jun 28) after global markets ended on a muted note. As at 9.01 am, the Straits Times Index (STI) slid 2.48 points or 0.1 per cent to 3,340.87. Across the broader market, gainers outnumbered losers 57 to 43 after 46.3 million securities worth S$55.7 million changed hands.…
Read MoreTata Steel warns UK furnace shutdown may start earlier than planned
TATA Steel could take steps to pause or stop some blast furnace operations earlier than planned at its plant in Port Talbot, Wales, while it challenges the legal basis for a strike organised by trade union Unite. Unite said last week that around 1,500 workers would begin an indefinite strike from Jul 8 over Tata’s…
Read MoreElon Musk won US$56 billion payday because of vote, Tesla argues in court
TESLA is claiming Elon Musk won his legal battle over his US$56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to a court filing made public on Friday (Jun 28). The company’s filing comes two weeks after Tesla shareholders voted to ratify the 2018 package…
Read MoreNokia to buy networking company Infinera in US$2.3 billion deal
NOKIA has agreed to acquire Infinera Corp. in a transaction valuing the maker of optical telecommunications equipment at US$2.3 billion including debt. The cash-and-stock deal will value Infinera at US$6.65 a share, a 37 per cent premium to the trailing 180-day average of the San Jose, California-based company’s share price, according to a statement on…
Read MoreRivian says lower-cost second generation EVs to help in push for profitability
MATERIAL cost of Rivian’s second-generation R1 electric SUVs and pickups will be 20 per cent lower than the current version, CEO RJ Scaringe said on Thursday (Jun 27), after it overhauled its manufacturing plant and removed vehicle parts to slash cost. Costs will go down further as Rivian continues to make improvements, Scaringe said at…
Read MoreUS Supreme Court blocks Purdue Pharma bankruptcy settlement
THE US Supreme Court on Thursday (Jun 27) blocked OxyContin maker Purdue Pharma’s bankruptcy settlement that would have shielded its wealthy Sackler family owners from lawsuits over their role in the nation’s deadly opioid epidemic. The 5-4 decision reversed a lower court’s ruling that had upheld the plan to give Purdue’s owners immunity, in exchange…
Read MoreNo Signboard to be renamed as Bromat
CATALIST-LISTED food and beverage firm No Signboard Holdings will be renamed as Bromat Holdings, and the counter will trade under this name from Jul 2. In a filing to the Singapore Exchange on Thursday (Jun 27), No Signboard said the change of name – approved at the annual general meeting on Monday – has been…
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