Market View: Prudential’s profits down 54% yoy due to its Indonesia segment; CapitaLand Integrated Commercial Trust’s subsidiary issuing HK$755m fixed rate notes; First year ‘anniversary’ of US Fed hikes; Credit Suisse to borrow 50 billion francs from Swiss National Bank; Saudi National Bank will not up stake in Credit Suisse; Launch of Baidu’s Ernie Bot to rival OpenAI’s ChatGPT

Your Way Home with Hongbin Jeong · Mar 16, 2023 · 14m

Singapore shares started the day lower after US and European markets ended mostly in the red overnight, as a liquidity crisis faced by Credit Suisse sparked fears across trading floors. The Straits Times Index shed 0.9 per cent in early trade to 3,143.43 points as 48.2 million securities changed hands. In terms of companies to watch, we have Prudential. The insurer yesterday posted profit from continuing operations of US$998 million for FY2022. That’s down 54 per cent from the previous year due to a decline in profit from its Indonesia segment. Meanwhile, the global financial sector continues…