Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Market View: Powell’s speech at Jackson Hole Economic Symposium in focus; Postal services cut off parcel deliveries to the US with Trump’s de minimis exemption coming to an end; Nio’s shares up over 9% on new ES8 SUV, Tesla raises prices of Cyberbeast; SingPost’s Q1 operating profit tumbles 60% yoy; LHN, Dezign Format to watch
Singapore shares moved higher today as all eyes remained on US interest rate movements for September and beyond.
The Straits Times Index was up 0.44% at 4,249.32 points at 2.05pm Singapore time, with a value turnover of S$668.43M seen in the broader market.
In terms of counters to watch, we have Singapore Post, after the postal service provider’s operating profit for the first quarter ended June came in at S$3.4 million, a 60 per cent year-on-year drop from S$8.4 million.
Elsewhere, from Tesla raising the price of its Cybertruck Cyberbeast in the US, to how postal services across the world are cutting off parcel deliveries to the US given the fast-approaching end of a tariff exception for low-value packages, more corporate and international headlines remained in focus.
Also on deck, what to watch when Federal Reserve Chair Jerome Powell speaks at the Jackson Hole Symposium in a couple of hours’ time.
On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.
