Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Market View: Asian equities track record day on Wall Street on Fed rate cut, higher than expected initial jobless claims reading; Oracle, Broadcom earnings, Disney-OpenAI deal in focus; Softbank Group reportedly studying potential acquisitions surrounding data centre operator Switch; Lululemon’s CEO Calvin McDonald to step down; CDL, UOL, GuocoLand, Hongkong Land to watch
Singapore shares rose today, tracking gains seen across Asian markets.
The Straits Times Index was up 1.26% at 4,577.92 points at 1.15pm Singapore time, with a value turnover of S$816.74M seen in the broader market.
In terms of counters to watch for today, we have CDL, UOL, and GuocoLand, after DBS Research took a bullish stance on Singapore property counters, initiating a sector-wide lift in its target prices for developers including CDL, UOL and GuocoLand.
Elsewhere from how earnings from chip titan Broadcom failed to meet investors’ lofty expectations, to higher than expected initial jobless claims numbers out of the US, more corporate and international headlines remained in focus.
Also on deck, how Lululemon Athletica said its CEO Calvin McDonald was leaving the company without a replacement.
On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Jeremy Tan, CEO, Tiger Fund Management.
