Market View: Selloff on Wall Street, Asia as investors await Nvidia, Walmart, Home Depot’s results, fret over prospects of December rate cut; GlobalFoundries to acquire Singapore’s Advanced Micro Foundry; Apple iPhone’s sales surge in China; Yangzijiang Financial in focus amid Yangzijiang Maritime Development’s mainboard debut; SGX to watch
Description
Singapore shares slid today, in line with regional movements.
The Straits Times Index was down 0.61% at 4,515.92 points at 2.27pm Singapore time, with a value turnover of S$935.74M seen in the broader market.
In terms of companies to watch, we have Yangzijiang Financial. That’s after the spinoff from its maritime investment segment, Yangzijiang Maritime Development, announced contracts with a Marshall Islands-based shipowner ahead of its mainboard debut today.
Elsewhere, from how New York-headquartered semiconductor company GlobalFoundries is acquiring Singapore’s Advanced Micro Foundry, to how Apple’s iPhone 17 series drove a 37 per cent rise in its monthly smartphone sales in China, more corporate and international headlines remained in focus.
On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Jeff Ng, Head of Asia Macro Strategy, Sumitomo Mitsui Banking Corporation.
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