Posts by Yurie Miyazawa
US: Stocks finish mixed as Nvidia’s slide continues
US stocks finished mixed on Friday (Jun 21), as Nvidia continued to slip as traders moved to consolidate gains from a recent rally in tech stocks. The Dow Jones Industrial Average finished less than 0.1 per cent higher at 39,170.36. The broad-based S&P 500 fell by 0.2 per cent to 5,464.61, as did the tech-rich…
Read MoreSouth-east Asia’s tech giants set for steady growth despite post-Covid challenges
Total addressable market across e-commerce and on-demand services is projected to increase at a compounded annual growth rate of 15% to reach US$416 billion by 2030 SOUTH-EAST Asia’s tech giants such as Grab and Sea are poised to continue with steady growth ahead, analysts say, even as the Covid-19 pandemic-led surge in digitalisation subsides. Maybank…
Read MoreUS imposes sanctions on Russia’s AO Kaspersky Lab executives over cyber risks
THE United States slapped sanctions on 12 people in senior leadership roles at AO Kaspersky Lab on Friday (Jun 21), citing cybersecurity risks a day after the Biden administration announced plans to bar the sale of the Russian company’s antivirus software. The sanctions targeted company leadership including the chief business development officer, chief operating officer,…
Read MoreUS: S&P 500, Nasdaq slip ahead of PMI data
The Nasdaq and the S&P 500 slipped at the open on Friday (Jun 21), with focus on business survey data for more clues on the health of the world’s largest economy. The Dow Jones Industrial Average rose 73.75 points, or 0.19 per cent, at the open to 39,208.51. The S&P 500 opened lower by 6.40…
Read MoreCompanies intending to delist should provide truly ‘fair and reasonable’ offer prices: Sias
COMPANIES that intend to delist in the future should provide a truly “fair and reasonable” offer price to all shareholders who have placed their trust in the company, board and management with their hard-earned money, said David Gerald, chief executive of the Securities Investors Association (Singapore), or Sias, in a media statement on Friday (Jun…
Read MoreDrinks maker Britvic rejects £3.11 billion takeover proposal from Carlsberg
BRITISH soft drinks maker Britvic has rejected a £3.11 billion (S$5.3 billion) takeover proposal from Carlsberg Group, the companies said on Friday (Jun 21), the second approach from the Danish brewer it has turned down. Shares in London-listed Britvic, which sells cocktail mixers and other non-alcoholic drinks, jumped 14 per cent to 1,153 pence, while…
Read MoreNvidia’s staggering gains leave investors wondering whether to cash in or buy more
THE huge rally in Nvidia Corp’s shares has investors weighing whether to cash in, hold on for more gains or chase a stock that has tripled during the past year. Nvidia this week briefly became the largest US company by market value on the back of a more than 1,000 per cent surge in share…
Read MoreJPMorgan asset and wealth head sees China’s economic outlook improving
JPMORGAN Chase is seeing signs of an improving economy in China that will bolster the bank’s business in the country after a sluggish period, its CEO of asset and wealth management Mary Erdoes said. US companies are assessing their prospects in China as its economy recovers unevenly and relations worsen between the two nations. For…
Read MoreFacebook, WhatsApp, Carousell among platforms asked to comply with anti-scam rules
SEVERAL social media apps and e-commerce platforms will be required from next week to put in place measures to proactively disrupt scams and malicious cyber activities affecting their Singapore-based users. The Ministry of Home Affairs (MHA) on Friday (Jun 21) said the popular social media platforms – Meta-owned Facebook, WhatsApp and Instagram, as well as…
Read MoreAsia: Markets retreat after tech losses hobble Wall Street
ASIAN markets mostly fell on Friday following a broadly negative lead from Wall Street, where tech giants led a sell-off on profit-taking, while traders are on intervention watch as the yen retreats back towards a three-decade low. A batch of worse-than-forecast US data provided further signs that the world’s number one economy was softening but…
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