Market View: US ADP payrolls reading show firms shedding 32,000 posts in September; Shares of Samsung Electronics, SK Hynix up sharply after initial agreements to supply chips to OpenAI’s Stargate project; Seoul, Taipei led rally in Asia on Samsung-SK Hynix-OpenAI deal; Apple reportedly shelves Vision headset revamp to prioritise Meta-like AI glasses; Yangzijiang Financial, Cordlife to watch
Description
Singapore shares moved higher today to track gains seen in Asia.
The Straits Times Index was up 1.55% at 4,390.27 points at 11.59am Singapore time, with a value turnover of S$869.87M seen in the broader market.
In terms of counters to watch, we have Yangzijiang Financial, after the investment management company said it has entered into an agreement, along with two of its strategic investors, to lead the restructuring of Chinese lithium battery producer Ningbo Shanshan.
Elsewhere, international headlines continue to remain in focus, from how shares of Samsung Electronics and SK Hynix rose sharply after forging initial agreements to supply chips to OpenAI’s Stargate project, to what job losses in the US private sector mean for markets.
On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital.
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