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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1 day ago

How Moderna execs are cashing in on COVID-19 vaccine stock speculation

Fiona Lam - Biotech firm Moderna Inc could reap tens of billions of dollars in sales and stock appreciation if it wins the race for a COVID-19 vaccine. If it loses, the early-stage company’s value could crash.

1 day ago

Briefs

The Edge Singapore - Quoteworthy:“Everybody is scared, including the biggest financial institutions.” - Wang Jiangyu, a law professor at the City University of Hong Kong, after China introduced a new set of security laws for Hong Kong. Singapore’s bank lending hit by circuit breaker Bank lending in Singapore fel ...

1 day ago

Quantship uses AI to accelerate digitalisation of 'old-school' shipping industry

Uma Devi - SINGAPORE (July 3): Digitalisation has undoubtedly emerged as a key priority for businesses around the world. However, certain industries have taken to the use of technology better than others. For example, the manufacturing and transport industries have generally been successful at going digital. ...

1 day ago

Beyond the retail resurgence

Jeffrey Tan and Uma Devi - Stronger trading interest from the small boys have helped lift the market. Is Singapore Exchange able to sustain its attractiveness for both institutional and retail investors? SINGAPORE (July 3): Prem Kumar, an undergraduate, recently made his maiden purchase of shares in Singapore Airlines (SIA) a ...

1 day ago

Derivatives trading see boost in volume, value amid Covid-19

Jeffrey Tan - SINGAPORE (July 3): The Singapore stock market was not the only market to see a spike in trading volume and value as the Covid-19 pandemic took the world by storm. The local derivatives market, too, experienced a similar situation. According to statistics from the Singapore Exchange (SGX), the numbe ...

1 day ago

AMTD aims to be 'connector' for Hong Kong companies to list here amid geopolitical tensions

Jeffrey Tan - SINGAPORE (July 3): When Hong Kong companies list outside their home market, Singapore has traditionally been on the shortlist. Of the 700-odd companies currently listed on the Singapore Exchange (SGX), 24 are domiciled in Hong Kong, according to Bloomberg data. Many of these companies were listed o ...

1 day ago

Different value propositions

Jeffrey Tan and Uma Devi - SINGAPORE (July 3): In recent months, the traditional competition between SGX and HKEX, underpinned by Singapore-Hong Kong rivalry, has again come to the fore. Both Singapore and Hong Kong had raced against each other to dish out digital bank licences to several companies. Geopolitical tensions bet ...

1 day ago

Assessing the risk scenarios: Selloff. Rebound. Now what?

Esty Dwek - (July 3): One of the biggest fears in the markets now is a second Covid-19 wave. A second confinement period to halt another outbreak is of particular concern, as it would halt economic activity again and destroy the nascent recovery. But we believe this is unlikely — at least for the time being. ...

1 day ago

Will the iris herald the biometric revolution?

Nirgunan Tiruchelvam - (July 3): The publishers of this magazine are housed in a simple building on Cecil Street. I last visited The Edge Singapore shortly before Covid-19. I was shocked that the method of identification at the lobby had not changed for decades. The visitors had to write their name and identity card (IC) ...

1 day ago

Covid-19: the changing fortunes of industries and how businesses can thrive

Liew Nam Soon - SINGAPORE (July 3): With the Covid-19 pandemic causing unprecedented disruptions, many companies have been compelled to respond with new ways of working and doing business. In hindsight, many are more certain of the need for digitalisation and transformation, whether seeing earlier investments now p ...

1 day ago

Wirecard's end marks a new dawn for FinTechs

Assif Shameen - (July 3): On June 18, Markus Braun, the CEO of beleaguered German FinTech firm Wirecard, walked into the criminal prosecutor’s office in Munich and surrendered himself. The 50-year-old Braun, an Austrian, co-founded Wirecard in late 1999 at the height of the dotcom bubble. After several pivots and ...

1 day ago

Exclusive: JPMorgan drops terms 'master,' 'slave' from internal tech code and materials

Fiona Lam - JPMorgan Chase & Co is eliminating terms like "blacklist," "master" and "slave" from its internal technology materials and code as it seeks to address racism within the company, said two sources with knowledge of the move.

1 day ago

What ails the Malaysian property sector

Asia Analytica - (July 3): Owning a home is a dream of most Malaysians but, for many, it remains elusive. Loan approvals for residential mortgages have been weak since 2015 (see Chart 1). Yet, property developers continue to build, with large — and rising — stocks of unsold homes. Why are many Malaysians findin ...

1 day ago

Tech tycoons flood Hong Kong with $20 billion of stock listings

Bloomberg - SINGAPORE (July 3): China’s tycoons are flooding Hong Kong’s exchange with US$20 billion ($27.8 billion) worth of new listings. While the city’s rich are preparing for a worst-case scenario amid a controversial national-security law, major mainland billionaires are coming in. The latest t ...

1 day ago

Covid-19 isn’t killing cash, people are just hoarding more of it

Catherine Bosley - (July 3): People appear to be bunkering cash amid the Covid-19 outbreak, according to a study that seeks to debunk the notion that the pandemic was hastening the demise of paper money due to e–commerce or fears of infection. Anecdotal evidence across advanced economies suggests a decisive move aw ...

1 day ago

Focus on quality in Asian high yield bonds

UBS Asset Management - SINGAPORE (July 2): The reopening of China’s economy is one of the key drivers for Asian high yield bonds, according to UBS Asset Management (UBS-AM).  However, Ross Dilkes, who manages the UBS Asian high yield strategy, believes that investors should be “quality” conscious and aware of liqui ...

1 day ago

Halcyon Agri aims to be sustainable disruptor in rubber industry

Emelia Tan - SINGAPORE (July 3): 1. Please describe Halcyon Agri and what are some recent notable developments? Halcyon Agri is a leading supply chain franchise of natural rubber with a production capacity of 1.63 million metric tonnes per annum. It owns 38 processing factories in most major rubber producing ori ...

1 day ago

Investing in China's domestic recovery

Daryl Guppy - (July 3): The Chinese economy is almost alone in forecasting growth for 2020 and beyond. Tapping into this investment market is easier than ever with the progress of the Cross Connect programme between Hong Kong and the Shanghai and Shenzhen exchanges. There are five methods I use to invest in the ...

1 day ago

Wife of Challenger CEO Loo buys shares; company to grow 'price-sensitive' segment

The Edge Singapore - SINGAPORE (July 3): Ong Sock Hwee, wife of Challenger Technologies founder and CEO Loo Leong Thye, bought some shares of the company from the open market recently. On June 29, Ong acquired 12,000 shares for $5,400, or 45 cents each. On June 25, she bought 21,600 shares, also at 45 cents each and ano ...

1 day ago

940 Brokers' Digest

The Edge Singapore - Frasers Centrepoint TrustPrice target: CGS-CIMB “Add” $2.49 FCT expected to recover fastest from Covid-19 Have a premium account? Sign in to continue reading. Unlimited access to all stories from $4.99/month* The latest reporting and analysis from business and investments to news and views on so ...

1 day ago

Facebook hit with complaint alleging widespread bias against Black workers

Fiona Lam - A Black Facebook Inc worker on Thursday filed a complaint claiming the social media giant's stated commitment to diversity and civil rights, including its support for the Black Lives Matter movement, masks widespread discrimination against Black workers.

1 day ago

Daily Briefing: Changi Airport to roll out contactless check-in kiosks; Dataxet buys Sonar Platform

Staff Reporter - Uploaded By:  Janine Ballesteros Submitted By:  Janine Ballesteros Case Study:  No And upgrades and rebuilding of school campuses delayed by one year. From Channelnews Asia: Changi Airport will be rolling out contactless check-in kiosks which will allow travellers to check in and dro ...

1 day ago

Chart of the Day: Locals take the bulk of private home purchases in May

Staff Reporter - Uploaded By:  Janine Ballesteros Submitted By:  Janine Ballesteros Case Study:  No This amounts to 84% of the private home sales in May. This chart from PropNex research shows that the bulk of purchases, or 84% of the private home sales in May, were made by Singaporeans. This is a 2 ...

1 day ago

Daily Markets Briefing: STI up 1.02%

Staff Reporter - Uploaded By:  Janine Ballesteros Submitted By:  Janine Ballesteros Case Study:  No Medtecs International led the gains amongst top active stocks with a 13.42% expansion. The Straits Times Index (STI) ended 26.52 or 1.02% higher at 2,636.69. The top active stocks were Medtecs Internat ...

1 day ago

Property deals crashed 45% to $6.13b in H1 2020

Staff Reporter - Uploaded By:  Clarist Zablan Submitted By:  Clarist Zablan Case Study:  No Despite the surge in big commercial deals, the lack of hospitality deals dragged overall volume. Property investment volume slumped 45% YoY to $6.13b in the first half of 2020, according to data from Cushman & ...

1 day ago

Singapore property, bank stocks ride on Hong Kong tailwind

Angela Tan - SINGAPORE property and banking stocks with exposure to China, rallied alongside Hong Kong-listed mainland developers on Thursday.

1 day ago

Sembcorp Industries' urban business forms JV with CRE Asia

Tay Peck Gek - LISTED conglomerate Sembcorp Industries' urban business has formed a joint-venture company with Japanese property firm CRE Asia, as part of an effort to facilitate the expansion of its warehousing properties in Vietnam.

1 day ago

Fitch revises Geo Energy's rating back to 'CC' after failed bond tender offer

Rachel Mui - FITCH Ratings has revised Indonesian coal miner Geo Energy Resources' long-term issuer default rating to "CC" from "C".

1 day ago

Revolut aims for higher compliance standards as it seeks expansion in Asia

Natalie Choy - FINTECH Revolut has amped up efforts in boosting compliance standards, which it sees as necessary for regional expansion.

1 day ago

Hoe Leong re-appoints executive director 2 days after his failed re-election

Tay Peck Gek - MAINBOARD-LISTED heavy equipment trader Hoe Leong has re-appointed Joseph Liew Yoke Pheng as an executive director - just two days after his re-election was voted down at the company's annual general meeting (AGM).

1 day ago

Hatten Land subsidiaries plan debt restructuring

Vivienne Tay - TWO subsidiaries of Catalist-listed Hatten Land are looking to undergo debt restructuring, on top of the group's other initiatives to make its property development business more resilient in light of ongoing pressures from the Covid-19 pandemic.

1 day ago

DBS downgrades Shopee, Garena owner Sea to 'sell'

Fiona Lam - INTERNET company Sea Ltd, which owns e-commerce platform Shopee and game developer Garena, is now rated "sell" by DBS Group Research down from "fully valued", given its slower-than-expected e-commerce sales, higher losses in the e-wallet business, and rich valuations.

1 day ago

Koufu's Deli Asia deal to 'bring in the dough'

Rachel Chia - THE proposed S$22 million acquisition of the Deli Asia group by food court and coffee shop operator Koufu Group is an "attractive" deal that could boost the mainboard-listed company's earnings per share, a CGS-CIMB report said on Wednesday.

1 day ago

Temasek delays annual report till Sept

Rachel Mui - SINGAPORE'S state investor Temasek Holdings will delay its annual reporting to September from July this year, citing disruptions amid the Covid-19 pandemic.

1 day ago

Singapore H1 property investment sales down 45%: C&W

Vivienne Tay - SINGAPORE'S property investment volume fell 45 per cent to S$6.13 billion in the first half of the year, according to preliminary data from Cushman & Wakefield released on Thursday.

1 day ago

Demand down, costs up, but builders will rein in bids

Siow Li Sen - SINGAPORE contractors are facing a double whammy – plunging demand due to the Covid-19 pandemic while needing to fill their order books but without being able to pass on all the additional costs of measures to ensure a safe working environment.