Wall Street ends down, pulled lower by growth stocks
NEW YORK – US stocks closed lower on Monday (June 27), with few catalysts to sway investor sentiment as they approach the half-way point of a year in which the equity markets have…
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Central Banks in Asia spend billions to slow currency declines
SINGAPORE – After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising…
Ether recovery helps crypto revisit $1.38 trillion market cap level
SINGAPORE – Ether and Bitcoin reached their highest levels in 10 days on Sunday (June 26) as the market showed some signs of stabilisation. Ether, the No. 2 cryptocurrency,…
China said to ask banks to prepare for longer yuan trading hours
BEIJING – China plans to extend the yuan’s trading hours as it seeks to increase global investor participation in onshore currency trading as part of its internationalisation…
Wall Street seen trapped in a crushing bear market
CAPE TOWN – Money managers betting on a sustained global rebound will be left sorely disappointed in the second half of this crushing year as a protracted bear market looms, even…
Oil extends losses as recession fears mount
TOKYO – Oil prices fell 2 per cent in early trade on Thursday (June 23), extending losses from the previous day, as investors worried that aggressive US interest rate hikes could…
Nike to fully exit Russia, will scale down over coming months
PARIS/COPENHAGEN – American sportswear maker Nike is making a full exit from Russia, three months after suspending its operations there, the company said Thursday (June 23). Nike…
Sweden issues ‘early warning’ on Russian gas supply
STOCKHOLM – The Swedish Energy Agency on Tuesday (June 21) declared a first level “early warning” over fears that gas supplies may be impacted due to reductions in energy imports…
CapitaLand Investment its first onshore renminbi fund in China
SINGAPORE – CapitaLand Investment (CLI) has established its first onshore renminbi fund in China as part of its asset-light strategy to grow its funds under management. The…
Oil prices skid as Biden pushes for US fuel cost cuts
MELBOURNE – Oil prices dived more than US$4 a barrel on Wednesday (June 22) amid a push by US President Joe Biden to bring down soaring fuel costs, including pressure on the…