Posts by Yurie Miyazawa
Singapore’s STI stumbles over 2% as Trump’s 104% tariff hit on China kicks in
[SINGAPORE] Singapore stocks slid further on Wednesday (Apr 9) following this week’s rout, with US President Donald Trump’s reciprocal tariffs officially put in place. The tariffs, which include a 104 per cent tax on many Chinese goods, took effect at 12:01am US time on Wednesday. Around midday, the Straits Times Index was down 2.2 per…
Read MoreGold eases as Treasury yields climb; trade war in focus
[BENGALURU] Gold prices eased on Wednesday (Apr 9) as US Treasury yields ticked higher, while anxious investors monitored the escalating trade war between the US and its key trading partners amid rising fears of a global recession. Spot gold fell 0.1 per cent to US$2,981.86 an ounce as at 0024 GMT. It scaled an all-time…
Read MoreSembcorp enters JV with Bharat Petroleum for renewable energy projects
[SINGAPORE] Sembcorp Green Hydrogen India, a wholly owned subsidiary of Sembcorp Industries, has entered a joint venture (JV) deal with Indian oil and gas company Bharat Petroleum for renewable energy and green hydrogen projects across the country. The partnership will support India’s energy transition and development goals, said the energy and urban solutions provider on…
Read MoreChina’s EV boom masks economic pain for major auto hubs
[HONG KONG] China’s world-beating electric vehicle (EV) boom is masking lopsided economic gains, with manufacturing hubs that rely on foreign carmakers falling behind cities that are home to hugely popular domestic brands such as BYD. No city exhibits how quickly the tide can turn better than Guangzhou, where auto manufacturing accounts for about a quarter…
Read MoreAfter Trump tariffs, Malaysia gloves could be priced out in non-US markets
[SINGAPORE] Glove makers in Malaysia are more likely to weather the tariff-induced storm as the duties imposed on the country’s exports to the United States are lower than other glove-producing Asian markets, said analysts and manufacturers. These uneven tariffs are likely to widen the price differential in the US between Chinese and Malaysian gloves, making…
Read MoreEurope: Shares notch best session since November 2022 after tariff-sparked pullback
EUROPEAN shares rose from 14-month lows on Tuesday, after four straight sessions of heavy selling, although investors continued to closely watch developments as countries responded to sweeping US tariffs. The pan-European Stoxx 600 closed 2.72 per cent higher at 486.91 points after slumping over 12 per cent in the past four sessions. World stocks broadly recovered some…
Read MoreWall Street braces for souring corporate earnings amid trade war
[NEW YORK] US stocks reeling from the impact of President Donald Trump’s tariffs face another big test starting later this week: corporate earnings. And they’re not looking good. Investors have already chopped more than US$5 trillion off the value of companies in the S&P 500 Index over the last three sessions as they fret…
Read MoreUOB to inject fresh capital of 2 trillion dong into Vietnam unit, build new headquarters in Ho Chi Minh City
[SINGAPORE] United Overseas Bank (UOB) said on Tuesday (Apr 8) that it will inject additional fresh capital of two trillion dong (S$104 million) into its Vietnam subsidiary, bringing its total charter capital of the unit to 10 trillion dong. Since 2021, UOB has made three capital injections into UOB Vietnam. Its total charter capital of…
Read MoreDBS sees more trade flows in Asia, Africa post Trump’s tariffs
[KUALA LUMPUR] Singapore’s biggest bank DBS expects more trade flows between Asia, the Middle East and Africa, with the lender planning to support such business amid the latest rounds of tariff hikes by US President Donald Trump. “There will be more connectivity” for clients between these regions as well as within Asia, said DBS’ new…
Read MoreRich Asian investors opt to unwind holdings amid margin calls
[SINGAPORE] Some wealthy clients at Asia’s top private banks are opting to unwind part of their equity investments instead of topping up collateral after the tumult in global markets triggered a slew of margin calls, according to people familiar with the matter. Multi-millionaire investors from Hong Kong to Singapore at several large European and US…
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