Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Market View: US Fed cuts rates by 25 bps; Fed Chair Powell on Bitcoin; Bank of Japan kept rates unchanged; Chinese banks raise new mortgage costs for first time in 3 years; Layoffs at Yeo Hiap Seng amid Oatly’s closure and more
Singapore shares opened in the red today, tracking broader losses in Asia after the US Federal Reserve signalled fewer interest rate cuts next year.
In early trade, the Straits Times Index (STI) fell 0.9 per cent to 3,744.93 points after 74.4 million securities were transacted in the broader market.
In terms of companies to watch, we have Yeo Hiap Seng. The beverage manufacturer today said it would lay off 25 employees as a direct result of Oatly’s evaluation of its supply network.
Elsewhere, from US Federal Reserve Chair Jerome Powell’s remarks on Bitcoin and interest rates, to how Chinese banks raised new mortgage costs for the first time in three years amid narrowing margins, more international headlines remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital.
