Latest / Your Way Home with Hongbin Jeong
Market View: Fitch downgrades US credit rating to AA+; Market expects more stimulus measures for Chinese property and tech sectors; Shares of Country Garden Services jumped 20%; US earnings, S&P 500 companies surprise on the upside; Tupperware, Meme stocks; European defence stocks; US energy stocks
Singapore stocks opened weaker today, joining global bourses in the red. That’s as July data showed weakness in the manufacturing sector across China, the US and the eurozone. In early trade, the Straits Times Index (STI) headed down 0.6 per cent to 3,353.92 points after 65.1 million securities changed hands in the broader market. Meanwhile, international headlines are in focus today with all eyes on markets in Greater China over expectations of more stimulus for the beleaguered property sector. Also on the table today – what the recent downgrade of US sovereign debt means for investors and…
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