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Market View: Powell says “the time has come” for rate cuts; Apple vs Google; Starbucks’ over 170,000 possible drink combinations; Singapore’s factory output up 1.8% yoy in July; Shangri-La Asia posts 28.1% yoy decline in net profit and more
Singapore stocks rose this morning as remarks from US Federal Reserve chair Jerome Powell cemented expectations that the central bank will cut its key policy rate next month. The Straits Times Index (STI) opened 0.4 per cent higher at 3,401.33 points after 72.9 million securities changed hands in the broader market. In terms of companies to watch, we have Shangri-La Asia. The hotel group had on Friday posted a 28.1 per cent decline in net profit to US$94.5 million for the first half-year ended June, from US$131.4 million a year earlier. Elsewhere from Singapore’s factory output returning to…
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