Market View: Janet Yellen reiterates support for lenders; NIO’s CFO confident of doubling sales to 250,000 EVs this year; Merger of Credit Suisse and UBS on concentration; Possibility of more landmines for banks to come; US Fed’s rate decision and chances of a rate pause

Your Way Home with Hongbin Jeong · Mar 22, 2023 · 9m

Singapore shares opened on a healthy footing, following overnight gains in the US and Europe. The Straits Times Index rose 0.6 per cent in early trade to 3,194.3 points, after 77.9 million securities changed hands. In terms of companies to watch for today, we have automaker NIO, after the company’s CFO said it’s “very confident” of meeting its target of doubling sales to 250,000 electric vehicles this year. Elsewhere, investors cheered comments from US Treasury Secretary Janet Yellen reiterating support for lenders after the collapse of two regional banks earlier this month, and set their…