Posts by Yurie Miyazawa
Singapore stocks open higher on Tuesday; STI up 0.2%
SINGAPORE stocks opened stronger on Tuesday (Jun 18) following overnight gains on global markets. The Straits Times Index (STI) rose 0.2 per cent or 6.22 points to 3,303.77 as at 9.02 am. Across the broader market, gainers outnumbered losers 96 to 56 after 41.8 million securities worth S$60 million changed hands. The most active counter…
Read MoreTrafigura agrees to pay US$55 million to settle CFTC charges
A UNIT of global commodities trader Trafigura has agreed to pay a US$55 million civil fine to settle US Commodity Futures Trading Commission (CFTC) charges of fraud, manipulation and impeding whistleblower communications. Trafigura Trading, a Houston firm that is part of Trafigura Beheer, violated US law and regulations by trading petrol with material nonpublic information,…
Read MoreHyundai Motor shares hit record high as investors bet on India IPO
HYUNDAI Motor’s shares hit a record high as investors bet on the South Korean automaker’s plan to list its India unit in Mumbai, which would help Hyundai Motor boost its presence in the world’s third-biggest auto market. Shares of Hyundai Motor rose as much as 6.3 per cent on Monday (Jun 17) to 285,000 won…
Read MoreYouTube tests context ‘notes’ feature for videos
ALPHABET’S YouTube will soon allow users to add ‘notes’ that will provide context on some of its videos as part of a new feature that will be initially rolled out in the United States, it said on Monday (Jun 17). YouTube will invite certain users and creators, as part of the initial test phase, to…
Read MoreAsian gold buying spree burnishing Singapore’s status as precious metals hub
SINGAPORE’S proximity to emerging gold markets in Asia as well as its political and financial stability amid global macroeconomic uncertainties are spurring its ambitions to become a regional gold hub, according to market watchers. While the price of gold has surged, investor demand has remained healthy in Asia, boosted by purchases by central banks in…
Read MoreSabana Reit denies allegations that bond issuance is ‘highly abnormal’ or ‘impedes internalisation’
THE manager of Sabana Industrial Real Estate Investment Trust (Sabana Reit) has denied allegations that the upcoming issuance of its sustainability-linked bond puts the trust in “financial jeopardy”, nor does it “complicate and impede” its internalisation process. This was in response to allegations by activitist investor Quarz Capital in a letter dated Jun 14. In…
Read MoreIndia’s stock value tops US$5 trillion as Modi’s win powers rally
INDIA’S stock market value is exceeding US$5 trillion for the first time, with the latest boost coming from a commitment by Prime Minister Narendra Modi’s new coalition for policy continuity in the world’s fastest-growing major economy. The country’s equity market is joining the ranks of the US, China, Japan and Hong Kong after topping the…
Read MoreUS Supreme Court to hear Nvidia bid to scuttle shareholder lawsuit
THE US Supreme Court agreed on Monday (Jun 17) to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence (AI) chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The justices took up Nvidia’s appeal made after a lower court revived a…
Read MoreUS dollar stays strong, political uncertainty saps euro
THE US dollar held steady on Monday (Jun 17), while the euro traded around more than one-month lows as political turmoil in Europe ramped up the level of uncertainty among traders. Meanwhile, investors awaited more data to gauge the strength of the US economy. Investors have been contemplating the risk of a budget crisis at…
Read MoreRecord copper prices likely to pause US scrap shipments to China
CHINA’S copper scrap imports have soared due to shortages of concentrate that is processed into refined metal used in the power and construction industries, but record-high prices mean US shipments are likely to pause. Smelters in top copper consumer China have faced concentrate shortages since last year when First Quantum lost the right to operate…
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