Posts by Yurie Miyazawa
Nvidia enters correction territory as slump erases US$430 billion
NVIDIA shares entered correction territory on Monday (Jun 24), as an ongoing sell-off erased a historic amount of value for the artificial intelligence (AI) focused chipmaker. The stock fell 6.7 per cent, its third straight negative session and the biggest one-day percentage drop since April. The three-day drop erased about US$430 billion from Nvidia’s market…
Read MoreEurope: Shares start the week higher on autos, banks
EUROPEAN equities advanced on Monday, led by gains in automobile and financial stocks, while investor attention focused on the first round of French parliamentary elections later this week. The Europe-wide Stoxx 600 closed up 0.7 per cent, slightly below a nearly two-week high hit earlier in the session. Banks rose 1.7 per cent to lead…
Read MoreChina’s Fosun to buy out Henlius Biotech, values it at HK$13.37 billion
CHINESE conglomerate Fosun International will buy the remaining stake in Shanghai Henlius Biotech that it does not already own in a deal that values the Hong Kong-listed drugmaker at HK$13.37 billion (S$2.3 billion), the companies said on Monday (Jun 24). Fosun International, through its unit Shanghai Fosun Pharmaceutical, is offering HK$24.60 per Henlius share, which…
Read MoreOCBC garners over 90% of Great Eastern’s shares; trading in insurer to suspend at close of offer
As the number of the insurer’s shares held by the public is now below 10%, the counter will be suspended from trading after the offer closes on Jul 12 OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, the bank announced on Monday (Jun 24). However, no delisting is…
Read MoreFoxconn to invest US$383 million in Vietnam circuit board plant: state media
FOXCONN Singapore has been awarded a licence to invest US$383 million in a factory to produce printed circuit boards in Vietnam, state media reported on Monday (Jun 24). The plant in the northern province of Bac Ninh will produce 2.79 million products a year, Cong Thuong newspaper reported. Foxconn, the world’s largest contract electronics maker…
Read MoreFast-fashion retailer Shein filed for London listing in early June: sources
SHEIN confidentially filed papers with Britain’s markets regulator in early June for a potential London listing, two sources said, as the online fast-fashion retailer moves ahead with what could one of the largest IPOs globally this year. The China-founded company, which was valued at US$66 billion in a fundraising round last year, started engaging with…
Read MoreForeign banks target Switzerland after UBS takeover of Credit Suisse
AS CREDIT Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies’ desire to spread their business. France’s BNP Paribas, Deutsche Bank and US lenders Citi and Bank of America are among those increasing staffing and courting smaller companies that form the bedrock…
Read MoreSingPost settles legal disputes with shares seller
The settlement is not expected to have a material impact on the company’s net tangible assets or earnings per share for the current financial year Singapore Post (SingPost) has settled long-drawn-out legal proceedings with a shares seller, with the terms behind the resolution of the disputes being confidential. The national postal service provider said in…
Read MoreBitcoin extends drop after one of crypto’s worst weeks of 2024
The cracks in crypto come amid doubts about the Federal Reserve’s scope to cut interest rates quickly from a two-decade high Losses are piling up in the crypto market after its second-worst weekly drop of 2024, a reflection of cooling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy. A gauge of the largest…
Read MoreIndonesia central bank governor sees no need for further rate hike
He said this even after the rupiah fell to its weakest since 2020 against the dollar last week Bank Indonesia’s governor Perry Warjiyo on Monday (Jun 24) said he saw no need for further rate hikes at the moment, even after the rupiah fell to its weakest since 2020 against the dollar last week, partly…
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