Latest / Your Way Home with Hongbin Jeong
Market View: US Fed cuts rates by 25 bps; Fed Chair Powell on Bitcoin; Bank of Japan kept rates unchanged; Chinese banks raise new mortgage costs for first time in 3 years; Layoffs at Yeo Hiap Seng amid Oatly’s closure and more
Singapore shares opened in the red today, tracking broader losses in Asia after the US Federal Reserve signalled fewer interest rate cuts next year. In early trade, the Straits Times Index (STI) fell 0.9 per cent to 3,744.93 points after 74.4 million securities were transacted in the broader market. In terms of companies to watch, we have Yeo Hiap Seng. The beverage manufacturer today said it would lay off 25 employees as a direct result of Oatly’s evaluation of its supply network. Elsewhere, from US Federal Reserve Chair Jerome Powell’s remarks on Bitcoin and interest rates, to…
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