SYDNEY – Asian stocks limped towards a fourth straight weekly decline on Friday and bonds nursed big losses as investors scrambled to catch up with the US Federal Reserve’s interest rate outlook, while currency markets were on edge at the end of a wild week. Fed members’ projections for aggressive hikes and persistently high rates over the […]
TOKYO – Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the US Federal Reserve later in the day. Japan’s Nikkei dropped 1.26 per cent and touched a two-week low. Australia’s benchmark share index slid 1.35 per cent and South Korea’s Kospi fell […]
SINGAPORE – Analysts on Friday reiterated their “buy” calls on ComfortDelGro, citing rising ridership of public transport and decent dividend payouts. This is despite the stock being dropped as a component of Singapore’s Straits Times Index (STI) for falling below the top 30 listed companies by market capitalisation and liquidity on the bourse. ComfortDelGro was replaced by […]
SINGAPORE (BLOOMBERG, REUTERS) – Asian stocks slumped on Monday (Aug 29), with the regional benchmark approaching a two-year low reached in mid-July, as investors fled risk assets after the Federal Reserve signalled it will keep raising interest rates to rein in inflation. The MSCI Asia-Pacific Index slid as much as 2.3 per cent, with technology […]
NEW YORK (AFP) – Wall Street stocks declined on Wednesday (Aug 17) following mixed retail sales and earnings reports as the market’s July and August rally showed signs of fatigue. US retail sales flatlined at US$682.8 billion (S$940 billion) in July as gasoline prices retreated from record levels while American consumers boosted spending on furniture, […]
SINGAPORE – Insurance is not the most exciting investment product around but industry veteran Raymond Ong regards it as a highly versatile tool that can bring diversity to his portfolio while guarding against unforeseen events. His approach takes in anything from critical illness protection to investment-linked plans (ILPs), but all come with careful vetting and […]
HONG KONG (BLOOMBERG) – Asia’s factories continued to report weakening activity in July amid lingering supply chain complications and a slowing global economy. Purchasing managers’ indexes (PMIs) for South Korea and Taiwan took the biggest hit, according to S&P Global. South Korea’s July PMI slumped to 49.8 from 51.3 in June, its lowest reading since […]
NEW YORK (BLOOMBERG) – The US economy is losing momentum heading into the back half of the year, highlighted by the government’s latest report card that showed weaker consumer spending and declines in business and residential investment. While the economy shrank for a second straight quarter – meeting one rule of thumb for a recession […]
WASHINGTON (AFP) – US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the economy growing, though they have made it clear they are willing to risk a recession. But with war still raging in Ukraine, and Covid-19 causing ongoing issues in Asia, avoiding an economic […]
SINGAPORE – When Mr Kevin Ngan renewed his restaurant leases last year, one landlord cut rent by 10 per cent, while rent for the other two units jumped by up to 25 per cent. Mr Ngan, who runs Good Luck restaurant in Haji Lane, leases three units from different landlords along the same stretch in […]
SEOUL (BLOOMBERG) – South Korea’s early trade data showed that exports remained resilient in the face of risks to global economic growth and China’s Covid-19 lockdowns, which are disrupting supply chains. Exports advanced 14.5 per cent in the first 20 days of July from a year earlier, the Customs office reported on Thursday (July 21). […]
PARIS (REUTERS) – The growth of global electricity demand is slowing sharply in 2022 from its strong recovery in 2021 due to slower economic growth, soaring electricity prices and health restrictions, the International Energy Agency (IEA) said Wednesday (July 20). Global electricity demand is seen rising 2.4 per cent in 2022, lower than the 3 per […]
BEIJING/HONG KONG (REUTERS) – Asian shares extended a global rally on Wednesday (July 20) as strong corporate earnings in the United States and the expected resumption of Russian gas supply to Europe helped lift sentiment and ease fears of a recession, while the dollar was mired near two-week lows. MSCI’s broadest index of Asia-Pacific shares […]
SINGAPORE – Singapore’s central bank believes inflation may abate next year, but warned that if prices and wages continue to remain elevated a deeper cut in economic growth could be needed to achieve stability. “Inflation is expected to ease in 2023 as major central banks withdraw policy accommodation and supply challenges are addressed. However, the […]
HONG KONG (REUTERS, BLOOMBERG) – Stocks in Asia gyrated while US equity futures pared declines on Thursday (July 14) as investors assessed the prospect of a recession on hardened expectations for more aggressive Federal Reserve rate hikes after sizzling US inflation data. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.1 per cent, hovering […]
NEW JERSEY (BLOOMBERG) – Europe’s common currency edged closer toward parity with the US dollar Monday (July 11) as energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fueled a broad rally in the greenback. The euro dropped as much as 1.3 per cent to US$1.0053, […]
TOKYO (REUTERS) – Asian stocks slipped and the US dollar stood by a two-decade high on the euro on Wednesday (July 6) as investors’ fears deepened that Europe is leading the world into recession, while oil attempted to steady after a slide. Brent crude futures bounced 1.4 per cent in morning trade to US$104.18 a […]
TOKYO (REUTERS) – Stocks fell across Asia on Wednesday morning (June 29), extending overnight losses on Wall Street amid concerns over recession, inflation and high oil prices, which also boosted the safe-haven US dollar. Japan’s Nikkei index fell 1.2 per cent, while Australia’s S&P/ASX 200 slipped 1.1 per cent and South Korea’s Kospi slumped 1.6 […]