Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Market View: Market movements as OpenAI signs US$38B deal with AWS, Fed officials’ mixed comments on rate outlook; RBA holds cash rate at 3.6%; South Korea to triple spending on AI; 240% rally in SK Hynix shares prompts Korea Exchange to warn investors; China calls on US to avoid ‘red lines’ after reaching tariff truce; China Aviation Oil, Wee Hur to watch
Singapore shares dipped today, tracking declines in most Asian markets.
The Straits Times Index was down 0.2% at 4,435.25 points at 1.27pm Singapore time, with a value turnover of S$839.39M seen in the broader market.
In terms of companies to watch today, we have China Aviation Oil, after China’s largest oil refiner, Sinopec, is said to be in discussions to take over the nation’s dominant distributor of jet fuel.
The tie-up talks between Sinopec and China National Aviation Fuel were initiated by Beijing. China National Aviation Fuel balances domestic supplies by importing or exporting cargoes through trading arms including China Aviation Oil, of which it owns 51 per cent.
Elsewhere, from how Australia’s central bank held its key interest rate steady in a widely anticipated decision, to how South Korea will triple spending on artificial intelligence and make its biggest defence budget increase in six years, more international headlines remain in focus.
Plus – how ChatGPT-maker OpenAI signed a US$38 billion deal with Amazon’s AWS cloud computing arm.
On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Dan Chang, Investment Specialist and Trading Representative, PhillipCapital.
