Posts by Yurie Miyazawa
US: Wall Street opens lower after hot payrolls data
US STOCK indexes fell at the open on Friday (Jun 7), after data showed job growth accelerated far more than expected in May, leading investors to dial back expectations for a September start to rate cuts. The Dow Jones Industrial Average fell 24.93 points, or 0.06 per cent, at the open to 38,861.24. The S&P…
Read MoreAlibaba unit dumps S$33.3 million in SingPost shares
ALIBABA Investment, a subsidiary of Chinese e-commerce giant Alibaba Group, sold off 72.5 million shares in Singapore Post (SingPost) for S$33.3 million on Friday (Jun 7). The transaction lowers its stake in the national postal service provider to 11.34 per cent from 14.56 per cent, and trims its holding to about 255.1 million shares. It…
Read MoreSingapore stocks appear unfazed by ECB’s decision; STI once again flat
SINGAPORE shares ended Friday (Jun 7) barely changed, after the European Central Bank (ECB) delivered its first rate cut since 2019. The benchmark Straits Times Index was unchanged in percentage terms, moving down only 0.04 point to 3,330.77. Across the broader market, winners beat losers 284 to 258, with 1.3 billion shares worth S$948.2 million…
Read MoreLast money launderer to plead guilty in S$3 billion case gets longest jail term – 16 months
WANG Dehai, one of the 10 foreigners arrested in last August’s anti-money laundering bust, was handed 16 months of jail time on Friday (Jun 7), the longest of the nine sentenced so far. The 35-year-old Cypriot national had pleaded guilty to one charge of possessing a sum of about S$2.3 million from unlawful remote gambling…
Read MoreMeituan prepping Middle East foray while exploring Europe, Asia
MEITUAN is preparing for a potential entry into the Middle East in its first expansion beyond the China region, even as it begins to consider the feasibility of other markets from Europe to South-east Asia. Founder Wang Xing said Meituan was actively exploring new arenas after its success in Hong Kong, but he stressed the…
Read MoreCrypto exchange Kraken is in talks for pre-IPO fundraising round
KRAKEN, one the oldest cryptocurrency exchanges, is considering raising a final funding round ahead of a possible initial public offering (IPO) after receiving inquiries from potential investors during the current digital-asset market rally, according to sources familiar with the matter. The exchange would likely seek to raise more than US$100 million, one of the sources…
Read MoreBoeing Starliner carrying Nasa astronauts reaches International Space Station
BOEING’S space taxi docked with the International Space Station, bringing the spacecraft’s first two passengers to the orbiting laboratory as part of a critical flight test for Nasa. Nasa astronauts Sunita “Suni” Williams and Barry “Butch” Wilmore entered the International Space Station smiling and cheering at 3.46 pm Florida time on Thursday (Jun 6). The…
Read MoreStocks to watch: Nio, Sembcorp
THE following companies saw new developments that may affect trading of their securities on Friday (Jun 7): Nio : NIO 0%: The Shanghai-based electric vehicle maker’s adjusted net loss widened by 18.1 per cent to 4.9 billion yuan (S$911.7 million) in the first fiscal quarter. This comes amid an increase in competition in the EV…
Read MoreUS proposes to boost Internet security, citing Chinese carrier action
THE Federal Communications Commission (FCC) on Thursday (Jun 6) voted to advance a proposal to boost the security of information transmitted across the Internet after government agencies said a Chinese carrier had misrouted traffic. The US telecommunications regulator since 2022 has been studying vulnerabilities that it says threaten the security and integrity of the Border…
Read MoreGameStop surges almost 50% as ‘Roaring Kitty’ teases livestream
SHARES of GameStop surged nearly 50 per cent on Thursday (Jun 6) after the online stock influencer known as “Roaring Kitty” posted on YouTube that he would host a livestream on Friday. Thursday’s surge was the latest in a bout of volatile trading in the struggling videogame seller’s shares that kicked off last month after…
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