Market View: UBS’ US$3.25b takeover of Credit Suisse; Wipeout of Credit Suisse’s AT1 bonds; Yangzijiang Shipping ordered to wind up; Fed’s daily currency swaps for banks in Canada, Britain, Japan, Switzerland and the euro zone; Fed’s interest rate decision

Your Way Home with Hongbin Jeong · Mar 20, 2023 · 14m

Singapore shares opened lower today, tracking losses in global markets following ongoing banking woes worldwide. The Straits Times Index fell 0.32 per cent in early trade to 3,173.17 points after 46.3 million securities worth S$55.1 million changed hands. In terms of companies to watch, we have Yangzijiang Shipbuilding, after a unit of the company that used to hold 43 subsidiaries has been ordered by Singapore’s High Court to wind up. What’s happening there? Meanwhile, investors continue to mull the state of the global financial sector after news that UBS had agreed to buy rival Credit Suisse…