Posts by Yurie Miyazawa
US 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…
Read MoreBerkshire Hathaway sells HK$310.5 million of shares in China’s BYD
BERKSHIRE Hathaway, the investment company owned by Warren Buffett, has sold 1.3 million Hong Kong-listed shares of electric-vehicle maker BYD for HK$310.5 million (S$53.8 million), a stock exchange filing showed on Monday (Jun 17). The sale on Jun 11 lowered Berkshire’s holdings in BYD’s issued H-shares to 6.9 per cent from 7.02 per cent, the…
Read MoreChina steps up warnings on relentless bond-buying frenzy
CHINA has ramped up warnings against bond bulls via state media reports amid signs the frenzy to buy government debt is trickling back. Bond funds will find it difficult to sustain the returns which have exceeded 10 per cent in some cases so far this year, Financial News, backed by the People’s Bank of…
Read MoreUBS offers to redeem funds linked to 2021 Greensill collapse
UBS Group said it will give investors in Credit Suisse funds linked to the collapse of Greensill Capital a significant proportion of their money back, as the Swiss bank looks to clear through the legacy issues of its former rival. Investors in the Credit Suisse Supply Chain Finance Funds will be offered a redemption at…
Read MoreBOJ to forgo July rate hike, taper 24 trillion yen per year: ex-policymaker
THE Bank of Japan (BOJ) is likely to trim bond-buying by around 24 trillion yen (S$206 billion) annually in new guidance due next month, but forgo raising interest rates at least until September, former board member Makoto Sakurai said on Monday (Jun 17). At its policy meeting on Friday, the BOJ decided to start trimming…
Read MoreST Engineering bags over S$100 million of ammunition orders from Europe
SINGAPORE Technologies Engineering (ST Engineering) has won ammunition orders of more than S$100 million in total value from Europe between April and early June, the group announced on Monday (Jun 17). Specifically, the orders are for 155 millimetre (mm) ammunition and 40mm ammunition – both of Nato-standard – ST Engineering said, without giving a breakdown…
Read MoreAsia: Stocks drop on worries over global risks
Asian stocks fell as concern over France’s political crisis stoked anxiety in global markets, while traders awaited policy decisions from major central banks due this week. Equity benchmarks in Japan and South Korea declined while those in Australia fluctuated. Benchmark 10-year Treasuries slipped and US equity futures were little changed. Markets including Singapore, India and…
Read MoreSasseur Reit focuses on operational resilience, financial prudence to ride out sector headwinds
THE Chinese economy has faced headwinds amid a property crisis and prudent consumer behaviour, which has weighed heavily across property groups as well as some real estate investment trusts (Reits). But outlet-mall player Sasseur Reit is confident that its focus on operational performance, coupled with financial prudence, will allow it to ride out the headwinds…
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