Posts by Yurie Miyazawa
US: Wall Street soars on Trump tariff pause with Nasdaq up 12%
WALL Street stocks rocketed to close solidly higher on Wednesday, with dramatic advances on all three major indexes as US President Donald Trump delayed steep new tariffs hours after they took effect. The Dow Jones Industrial Average surged 7.9 per cent to 40,608.45 and the broad-based S&P 500 Index rallied 9.5 per cent to 5,456.90. The tech-focused…
Read MoreGrab, Sea seen as defensive stocks as they are not exposed to direct trade links with US
[SINGAPORE] Singapore-headquartered tech giants Grab and Sea – both listed in the United States – have not been spared amid a wider market sell-off sparked by “reciprocal tariffs” announced by US President Donald Trump on Apr 2. Since the announcement, Grab has tumbled some 19 per cent to US$3.73 as at Apr 8 and Sea…
Read MoreSingapore shares, STI continue to tumble on Wednesday
[SINGAPORE] The Straits Times Index (STI) closed down, mirroring most regional indices that dipped on Wednesday (Apr 9). The STI fell 2.2 per cent or 75.78 points to 3,393.69. Across the broader market, decliners outnumbered advancers 414 to 203 after two billion shares worth S$2.9 billion changed hands. The trio of local banks continued their…
Read MoreUS considers adjusting port fee plan for Chinese vessels after pushback: sources
[LONDON/ATHENS] President Donald Trump’s administration is considering softening its proposed fee on China-linked ships visiting US ports after a flood of negative feedback from industries that said the idea could be economically devastating, according to six sources. Among the changes under consideration are delayed implementation and new fee structures designed to reduce the overall cost…
Read MoreAngel investors cite the founder as a make or break factor in backing startups
[SINGAPORE] If you are a startup founder seeking seed money, please note – three experienced angel investors named the business builder as the key factor when deciding whether or not to put their money in a business. “The founder is probably the single most important factor in early-stage startups, as we are betting on the…
Read MoreJapan’s Nikkei down nearly 4% on slowdown fears as US tariffs kick in
[TOKYO] Japan’s Nikkei share average slipped on Wednesday (Apr 9), ending nearly 4 per cent lower in a broad sell-off, as traders gauged concerns over a potential economic slowdown amid an intensifying trade war between the United States and China. The Nikkei share average fell 3.9 per cent to close at 31,714.03, while the broader…
Read MoreChina engineers orderly yuan drop as trade war threatens growth
[NEW YORK] China is guiding the yuan weaker at a carefully orchestrated pace, as the central bank seeks to blunt some of the economic impact of the trade war without destabilising financial markets. The People’s Bank of China (PBOC) weakened the yuan’s daily reference rate for a fifth straight session on Wednesday (Apr 9), but…
Read MoreAsia’s trade-sensitive currencies whipsaw amid tariff turmoil
[MELBOURNE/SEOUL] Asia’s trade-sensitive currencies swung around multiyear lows as the region reels from US President Donald Trump’s tariff policies that risk pushing the global economy into recession. The Bloomberg Asia Dollar Index hovered near a record low in data going back to 2006. The Korean won declined to its lowest level since the global financial…
Read MoreTSMC could face US$1 billion or more fine from US probe: sources
TAIWAN Semiconductor Manufacturing Company (TSMC) could face a penalty of US$1 billion or more to settle a US export control investigation over a chip it made that ended up inside a Huawei AI processor, according to two people familiar with the matter. The US Department of Commerce has been investigating the world’s biggest contract chipmaker’s…
Read MoreRBNZ delivers fifth straight rate cut, signals more to come
The Monetary Policy Committee is now chaired by governor Christian Hawkesby, who has taken the role on an interim basis following the shock resignation of Adrian Orr last month [WELLINGTON] New Zealand’s central bank cut interest rates for a fifth straight meeting and said it has scope for further reductions as US tariffs create downside…
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