Singapore shares opened lower today after the US central bank affirmed that more interest rate increases are likely ahead as the inflation rate is still high. 

In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,221.78 points after 30.3 million securities changed hands in the broader market.

In terms of companies to watch, we have DBS and OCBC. That’s after the Monetary Authority of Singapore imposed composition penalties totalling S$3.8 million on DBS, OCBC, Citibank and insurer Swiss Life (Singapore) for money-laundering rule breaches uncovered in a Wirecard probe. 

Elsewhere, investors continue to digest Federal Reserve chair Jerome Powell’s hawkish tone in its semi-annual testimony on where the central bank is headed for the rest of this year.  

Meanwhile, from Netflix outlining its US$2.5 billion South Korean bet on the K-drama mania to job cuts at SoftBank Group’s Vision fund, more corporate news continue to make the headlines today.

On Market View, the Drive Time team dived into the details with Terence Wong, CEO, Azure Capital.

Singapore shares opened lower today after the US central bank affirmed that more interest rate increases are likely ahead as the inflation rate is still high. 
In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,221.78 points after 30.3 million securities changed hands in the broader market.
In terms of companies to watch, we have DBS and OCBC. That’s after the Monetary Authority of Singapore imposed composition penalties totalling S$3.8 million on DBS, OCBC, Citibank and insurer Swiss Life (Singapore) for money-laundering rule breaches uncovered in a Wirecard probe. 
Elsewhere, investors continue to digest Federal Reserve chair Jerome Powell’s hawkish tone in its semi-annual testimony on where the central bank is headed for the rest of this year.  
Meanwhile, from Netflix outlining its US$2.5 billion South Korean bet on the K-drama mania to job cuts at SoftBank Group’s Vision fund, more corporate news continue to make the headlines today.
On Market View, the Drive Time team dived into the details with Terence Wong, CEO, Azure Capital.

Your Way Home with Hongbin Jeong is your 4–8pm drive companion,

Your Way Home with Hongbin Jeong is your 4–8pm drive companion, guiding you through the day’s biggest headlines, trending conversations and the issues shaping Singapore and the world.

From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what’s happening — with clarity, context and a touch of personality.

Whether you’re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected — all the way home.

And she closes the day with a song that says it all.

Your Way Home with Hongbin Jeong is your 4&ndash;8pm drive companion, guiding you through the day&rsquo;s biggest headlines, trending conversations and the issues shaping Singapore and the world.
From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what&rsquo;s happening &mdash; with clarity, context and a touch of personality.
Whether you&rsquo;re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected &mdash; all the way home.
And she closes the day with a song that says it all.

Your Way Home with Hongbin Jeong

Market View: Jerome Powell’s testimony to Congress; MAS’ penalty on major banks; Netflix’s US$2.5b South Korean bet; Job cuts at SoftBank’s Vision Fund