Market View: China Evergrande suspends trading in HK, Chinese bank earnings may fall 10% on bad loans; HSBC reportedly set to acquire Citigroup China’s consumer wealth management business; Google Pixel vs iPhone in Japan; Google, Apple and Meta’s foray into VR, AR devices

Your Way Home with Hongbin Jeong · Sep 28, 2023 · 9m

Singapore stocks inched up at the open today, after a mixed close in US and Europe markets overnight. In early trade, the Straits Times Index (STI) rose 0.1 per cent to 3,201.63 points after 54.1 million changed hands in the broader market. Elsewhere, Chinese Evergrande has suspended trading in Hong Kong. Adding to ongoing woes about the property sector, JP Morgan analysts estimate that Chinese bank earnings may fall as much as 10 per cent next year if their bad debt ratios continue to rise on defaulting developers. In terms of corporate news, Alphabet’s Google Pixel is eroding the iPhone…