Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

Latest Business Headlines and Stock Market News Published by Singapore Publisher Channel News Asia, Deal Streat Asia, Singapore Business Review, The Business Times, The Edge Market, Today Online @ SGinvestors.io

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2 days ago

India market regulator increases scrutiny of Adani group - sources

India’s market regulator has increased scrutiny of deals by the Adani Group over the past year and will study a report issued by short-seller Hindenburg Research to add to its own ongoing preliminary investigation into the group’s foreign portfolio investors, according to two sources aware of th ...

2 days ago

India's Adani begins record share sale as short seller triggers US$44 billion rout

MUMBAI: Shares of India's Adani Enterprises sank 15 per cent on Friday (Jan 27) as a scathing report by a US short-seller triggered a rout in the conglomerate's listed firms, casting dou

2 days ago

Philips plans reorganisation and job cuts

MEDICAL equipment maker Philips is planning a reorganisation including further job cuts, to be announced at its fourth quarter earnings Jan 30, a Dutch newspaper reported on Friday (Jan 27).

2 days ago

Hong Kong dollar pessimists stage a comeback

BEARISH bets on the Hong Kong dollar are gaining traction as a slump in local borrowing costs dulls the appeal of the currency versus the greenback.

2 days ago

LVMH's shares wobble after China takes margin toll

PARIS :A record-breaking run in the shares of French luxury goods group LVMH halted briefly on Friday after the company's fourth quarter sales update prompted some disappointment over the impact of China disruption on its margins.The company, which owns dozens of high-end labels including fashi ...

2 days ago

LVMH shares lose recent lustre as China takes margin toll

PARIS :LVMH shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins, taking some of the shine off a fourth-quarter sales rise.The French luxury goods group reported late on Thursday that its sales rose 9 per cent in the f ...

2 days ago

LVMH shares fall as margins disappointment takes shine off Q4 figures

PARIS : LVMH shares, which had hit a record high earlier this month, fell on Friday as some analysts expressed an element of disappointment over the company's margins, which took some of the shine off its fourth-quarter figures.LVMH reported late on Thursday that its sales rose 9 per cent in th ...

2 days ago

Adani rout deepens to more than US$50b, pressuring Asia’s richest man

SHARES of Adani Group’s companies have lost more than US$50 billion in market value in less than two sessions, as a selloff sparked by US short seller Hindenburg Research’s scathing report deepened on Friday (Jan 27).

2 days ago

Adani rout deepens to US$45b, pressuring Asia’s richest man

SHARES of Adani Group’s companies have lost almost US$45 billion in market value in less than two sessions, as a selloff sparked by US short seller Hindenburg Research’s scathing report deepened on Friday (Jan 27).

2 days ago

Fashion retailer H&M’s Q4 operating profit tumbles more than expected

H&M, the world’s second-biggest fashion retailer, on Friday (Jan 27) reported a larger-than-expected dive in operating profit for its fiscal fourth quarter, as it was slammed by soaring costs and weakening consumer confidence.

2 days ago

India’s Tata Motors up 8.2% after posting shock Q4 profit

SHARES of Tata Motors rose as much as 8.2 per cent to a four-month high on Friday (Jan 27), after the group reported its first quarterly profit in two years.

2 days ago

FCT cements position as heartland mall king with Nex acquisition: analysts

Janice Tan - ANALYSTS are generally positive about the prospects for Frasers Centrepoint Trust (FCT), after news of the trust jointly acquiring a 50 per cent stake in suburban mall Nex, together with sponsor Frasers Property, for S$652.5 million.

2 days ago

Thai Finance Ministry sees sustained baht gains on tourism boom

THE baht is set to extend its rally as the Chinese reopening buoys the outlook for tourist arrivals, helping propel Thailand’s growth this year to the highest in five years, according to the nation’s Finance Ministry.

2 days ago

Singapore's 12-month treasury bills draw record demand on signs yields are peaking

Bloomberg - Singapore’s sale of 12-month Treasury bills drew record demand for the maturity as investors sought to lock in higher yields amid speculation they may be close to peaking.The city state’s sale of $3.6 billion of securities due January 2024 drew total bids of $10.5 billion, an all-time high in da ...

2 days ago

Citi maintains 'buy' rating on Genting Singapore off the back of MBS results beat

Bryan Wu - Citi Investment Research analysts have maintained their “buy” rating for Genting Singapore with a target price (TP) of $1.04 with its Resorts World Sentosa (RWS) set to be one of “biggest beneficiaries” of Singapore’s reopening.In their report dated Jan 26, analysts George Choi and Ryan Ch ...

2 days ago

Fashion retailer H&M's profit tumbles as costs bite

STOCKHOLM :Sweden's H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7 per cent in early trade. Operating profit in the period, the wor ...

2 days ago

Fashion retailer H&M's Sept-Nov operating profit tumbles more than expected

(Corrects time period in final paragraph to say Dec. 1-Jan. 25 from Dec. 1-Dec. 25)STOCKHOLM :H&M, the world's second-biggest fashion retailer, reported on Friday a much larger dive than expected in September-November operating profit, slammed by soaring costs and weakening consumer confide ...

2 days ago

Adani begins big share sale as short seller triggers US$37b rout

INDIA’S Adani Enterprises began a record US$2.45 billion secondary share sale for retail investors on Friday (Jan 27), as a heavy selloff in Adani group companies intensified after an attack by a US-based short seller.

2 days ago

Bill Ackman says Hindenburg's Adani report 'highly credible'

BILLIONAIRE US investor Bill Ackman said on Thursday (Jan 25) that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.”

2 days ago

BOJ deploys funds-supply tool again as yields creep up

THE Bank of Japan (BOJ) said on Friday (Jan 27) it will extend five-year loans against collateral to financial institutions, the second time it has made such an offer after ramping up the funds-supply operation this month to defend its yield control policy.

2 days ago

South Korea pension fund will deplete faster than expected, report says

SEOUL : South Korea's huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low economic growth, an official estimate showed on Friday.A government panel commissioned for the estimate, made every five years, sa ...

2 days ago

ECB seen delivering two half-point rate hikes on way to may peak

BACK-to-back interest-rate increases of 50 basis points are approaching from the European Central Bank (ECB), whose battle with persistent inflation will see it hike borrowing costs until May, according to a survey of economists.

2 days ago

Rupee little changed on equity market woes, stronger dollar

MUMBAI : The Indian rupee moved in a tight range against the greenback on Friday, as local equities sank, while the dollar index edged higher after U.S. economic data kept up rate hike hopes.Coming off a holiday, the rupee traded at 81.58 per dollar by 11:12 a.m. IST, against its previous close of 8 ...

2 days ago

Brokers’ take: OCBC lifts fair value estimate for CapitaLand Investment on more expected divestments

Chelsea Ong - OCBC Investment Research has lifted its fair value estimate on CapitaLand Investment (CLI) to S$4.05 from S$3.74 upon fine-tuning its assumptions and rolling forward its valuations on the stock.

2 days ago

Akio Toyoda set to remain a force at Toyota, even as he steps aside

TOKYO :Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said.The 66-year-old Toyoda on Thursday announce ...

2 days ago

Akio Toyoda set to remain a force at Toyota, even as he bows out

TOKYO : Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said.The 66-year-old Toyoda on Thursday announc ...

2 days ago

Electric vehicles throw Palladium's mega-rally into reverse

LONDON : An era of breathtaking palladium rallies is likely to be ending, analysts said, as rising supply and stagnant demand erode prices of the metal used to neutralise vehicle exhaust emissions.Palladium, once the cheapest major precious metal, rocketed from less than $500 an ounce in 2016 to abo ...

2 days ago

Tata’s Air India to seal half of jumbo plane order: sources

AIR India will on Friday (Jan 27) seal half of an order worth billions of dollars for some 495 jets with Boeing and engine suppliers General Electric (GE) and CFM International, two industry sources said, as its new owner seeks to revive the airline and compete with much larger rivals.

2 days ago

Intel says it will recover share from AMD but some are skeptical

OAKLAND, Calif/BANGALORE :Microprocessor giant Intel Corp has stumbled badly at a time when smaller rival AMD and others are picking up speed. It says it will regain its balance this year, but analysts aren't so sure. The company shocked the market on Thursday with a revenue outlook that was be ...

2 days ago

Stumbling Intel, seeing AMD gain ground, says it will recover balance

OAKLAND, Calif/BANGALORE : Microprocessor giant Intel Corp has stumbled badly at a time when smaller rival AMD and others are picking up speed. It says it will regain its balance this year. The company shocked the market on Thursday with a revenue outlook that was behind Wall Street estimates by abo ...

2 days ago

HSBC shares become most overbought since 1986 after 50% rally

A 50 per cent rally has made shares of HSBC Holdings the most overbought in more than three decades, as investors piled back into the retail favourite given a brighter outlook from China’s reopening.

2 days ago

Adani Group stocks add to losses from short-seller attack

BENGALURU: Shares of Adani Group's listed companies fell on Friday (Jan 27), adding to their losses from Wednesday when US short-seller Hindenburg Research launched a scathing

2 days ago

Philippines greenlights seventh LNG project, gears up for gas imports

MANILA : The Philippines' Department of Energy said on Friday it has approved a $67-million LNG import terminal project, the country's seventh such facility, as it gears up for the launch of its liquefied natural gas industry this year.The DOE said in a statement it has issued a notice to ...

2 days ago

F&B player YKGI to raise $16.6 mil in IPO at 20 cents per share

Samantha Chiew - YKGI Limited, the owner of local famous duck rice brand Yew Kee Duck Rice, is the first initial public offering (IPO) on the Singapore Exchange (SGX) this year. It has on Jan 26 registered its offer document with SGX for its IPO on the Catalist board.YKGI is offering 82,750,000 ordinary shares at 20 ...

2 days ago

US economy showed momentum at year’s end, defying recession fears

THE economy remained resilient last year in the face of inflation, war and a Federal Reserve intent on curbing the pace of growth. A repeat performance in 2023 is far from guaranteed.

2 days ago

'Brighter outlook' for Hong Leong Asia as China reopens, building materials segment to report doubled profits: CGS-CIMB

Jovi Ho - Aided by China’s reopening and policy support, Hong Leong Asia (HLA) faces a brighter outlook in FY2023 ended December, say CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan.Hong Leong Asia is the manufacturing and building materials holding company of the Kwek family. The family owns oth ...