Upside for stocks intact despite inflations fears

elean 1 3 月

4 minutes

SINGAPORE - US equities last week were rattled by a sharp upwards movement in US bond yields, which many market watchers fear is a sign of inflationary pressures which could prompt the Federal Reserve to reverse its market-supportive low interest rate policy. The bluechip Dow Jones index ended a volatile week at 30,932.37 points last Friday, down 561.95 points for the week, while the broader S&P index gave up 95.56 points to end the week at 3,811.15. The tech-heavy Nasdaq lost 682 points for the week to end at 13,192.34 as "big tech" came under selling pressure on valuation concerns. While Wall Street's volatility sent jitters through many global markets, Singapore seems to have focused on local factors, led by potential earnings recovery ahead. The Straits Times index gained 68.4 points for the week to end last Friday's session at 2,949.04 points - its second highest close in a month as market players focused on the improving outlook ahead. But the sharp hike in US 10-year bond yields to above 1.6 per cent last week has sent shivers through the market. As of Friday's close it was at 1.407, the highest since February 2020. If bond yields go any higher, they would would surpass the ...

SeaPRwire

Nasdaq finishes higher, tech stocks retrace some losses

elean 27 2 月

3 minutes

NEW YORK (REUTERS) - The tech-heavy Nasdaq index rallied in choppy trading on Friday (Feb 26), even as sentiment remained fragile after the index's worst performance in four months the day before as fears of rising inflation kept US bond yields near a one-year high. The S&P 500 ended little changed, while the Dow index closed lower after earlier dropping to a three-week low. The Dow still posted gains of nearly 4% for the month, as investors bought into cyclical companies set to benefit from an economic reopening. Nasdaq, which had its worst week since October, ended the month roughly 1% higher while the S&P 500 posted a monthly gain of about 2.6%. Shares of Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc rose between 0.2% to 1.4% on Friday but had their worst week in months due to a sharp rise in US Treasury yields. The benchmark 10-year US Treasury yield eased to 1.404% after jumping to 1.614% on Thursday, roiling stock markets. Wall Street's fear gauge hovered at a one-month high. Tech stocks are particularly sensitive to rising yields because their value rests heavily on future earnings, which are discounted more deeply when interest rates go up. "There's no question...

SeaPRwire

Asian bourses in red on worries over rising US Treasury yield

elean 27 2 月

2 minutes

The local market was not spared as Asian bourses ended the week in the red, as rising United States Treasury bond yields stoked inflation fears and caused a sharp overnight fall in Wall Street tech shares. The souring sentiment sent the benchmark Straits Times Index (STI) falling 0.82 per cent, or 24.5 points, to end at 2,949.04. Losers outnumbered gainers 334 to 196 for the day, with 2.82 billion shares worth $2.35 billion changing hands. It was not that much different across the region. Tokyo's Nikkei 225 Index fell 3.99 per cent while the South Korean benchmark Kospi closed 2.8 per cent down. Chinese markets also ended the day firmly in the red. The Hang Seng Index slipped 3.64 per cent and the Shanghai Composite Index retreated 2.12 per cent. Australian stocks fared dismally as well, falling 2.4 per cent on their worst day in six months, with A$51 billion (S$53 billion) wiped off share valuations. That left the index down 1.8 per cent for the week after it hit a 12-month high only last week. Mr Jeffrey Halley, Oanda's senior market analyst for Asia-Pacific, noted: "With Wall Street setting the myopic inflation-watching tone, it is no surprise that Asia has followed suit and hea...

SeaPRwire

More market volatility expected ahead

elean 22 2 月

3 minutes

SINGAPORE - It was another volatile week for US equity markets as fears of potential inflation, stubbornly high US joblessness and an uneven recovery clashed with hopes of an accelerated vaccine roll-out, strong retail sales and more fiscal stimulus. Tech stocks retreated amid concerns that many tech names are trading at nose-bleed-level valuations. Meanwhile, a deep freeze rolling through Texas and the central United States has knocked out power, wreaked havoc on oil and gas production, slowed the vaccine roll-out and stirred up fears of economic fallout. The Dow Jones index ended the holiday-shortened week at 31,494, down slightly from its record a couple of days earlier at 31,613.02, while the broader S&P index closed at 3,906.71, down from its peak at 3,934.83. The tech-heavy Nasdaq bore the brunt of the slide to end at 13,874.46 for the week, down from 14,162.87 earlier in the week. In Singapore, the Budget statement had little impact on market sentiment, with the Straits Times Index taking its cue from Wall Street to end at 2,880.64 points, down 44.84 points for the week. Much of the interest continued to be on rotational play on second-liners. Earnings and recovery are provi...

SeaPRwire

World-Renowned Keynote Speakers announced for POWER WEEK ASIA 2021

pandora 9 2 月

4 minutes

SINGAPORE, Feb 9, 2021 - (ACN Newswire) - The POWER WEEK Organising Committee is proud to announce the updated speaker lineup for POWER WEEK ASIA Virtual Conference, which is set to commence on 15 - 18 March 2021. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world.POWER WEEK ASIA attracts the industry leaders from national power companies, government regulators, policy makers, renewable & IPPs, investors and suppliers from around the globe. With C-level speakers and attendees all under one roof, it offers the chance to learn the success strategies and pitfalls of notable power projects.The conference features 20+ engaging sessions covering government regulation & policy, market liberalisation, energy mix & integration, fossil fuels in power market, demand & supply, renewable energy outlook, energy transition, utility-scale solar development, wind energy, tariffs, energy storage, smart grid technologies, mini-grid & microgrid, digitalisation, electric vehicles, power trading, project finance, project development, energy efficiency and many more.Join in fr...

SeaPRwire

Dogecoin soars to record high as Elon Musk fires off new tweet

elean 8 2 月

1 minute

NEW YORK (BLOOMBERG) - Dogecoin rose to all-time high on Sunday (Feb 7) as Tesla co-founder Elon Musk tweeted "Who let the Doge out" amid the rally. The Shiba Inu-themed digital coin surpassed 8 cents for the first time, just a week after crashing to 2.5 cents and sparking an outcry on Reddit. It rose 53 per cent in the last 24 hours to 8.2 cents as of 5:45pm in New York on Sunday, according to CoinMarketCap data, breezing through its recent record of 7.8 cents posted in late January. It now has a market value of US$10 billion (S$13.3 billion), making it the 8th-biggest cryptocurrency. The price recovered over the past week after Mr Musk returned from his self-imposed Twitter break to send a series of tweets promoting Dogecoin. Started as a joke in 2013, Dogecoin has been riding a wave of newfound popularity on social media, powered by the speculative frenzy of retail investors. Bitcoin has also rallied this week, topping a record of US$40,000, before paring gains. More on this topic Related Story Elon Musk at it again, sending Shopify shares up with Twitter blast Related Story GameStop market value soars past $13 billion after Elon Musk tweet

SeaPRwire

Major events in Singapore unfazed by WEF postponement

aseanpr 6 2 月

4 minutes

SINGAPORE - The decision by the World Economic Forum (WEF) to postpone its leadership summit in Singapore has not deterred those planning other major events here, such as the Shangri-La Dialogue in June. Several organisers of upcoming high-profile meetings, conferences and exhibitions told The Straits Times on Friday (Feb 5) they would press ahead. While some pointed to pre-existing plans to scale down or adopt a hybrid format including virtual elements, all acknowledged that they were still working out specifics amid the uncertainty of the global Covid-19 pandemic. Explaining the rescheduling of its special annual meeting from late May to between Aug 17 and Aug 20, the WEF said worldwide travel restrictions and differing quarantine and air transport regulations had posed challenges to its plans to gather global leaders face-to-face. But the other high-level event of the year - the annual Shangri-La Dialogue by the London-based International Institute for Strategic Studies- remains committed to its dates of June 4 to 6. The Dialogue, which was cancelled last year for the first time since its inception in 2002, gathers defence policymakers from around the world to discuss security i...

SeaPRwire

S&P 500 posts biggest gain since Nov 24, led by gains in tech shares

elean 2 2 月

3 minutes

NEW YORK (REUTERS) - The S&P 500 registered its biggest daily percentage gain since Nov 24 on Monday (Feb 1) after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares. Investors also watched talks over the latest US Covid-19 relief package. The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains. US small-cap miners Hecla Mining Co and Coeur Mining Inc surged. Last week, retail traders drove big gains in companies such as GameStop Corp. GameStop was down 30.8% on Monday. The frenzy may have changed course but is likely to stick around for a while, said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. "The fact of the matter is this is a powerful move in the markets, and it's not just going to dissipate," she said. The S&P 500 technology and consumer discretionary sectors, up more than 2% each, gave the S&P 500 its biggest boosts in the broad market rally. Amazon.com, due to report results Tuesday, was among the biggest positive influences, along with...

ACN Newswire

Launch of Digital Week 2021: Southeast Asia

indie 7 1 月

3 minutes

SINGAPORE, Jan 7, 2021 - (ACN Newswire) - Calling all Cloud enthusiasts!W.Media is gathering ASEAN's best and brightest for a 4-day virtual conference to cover everything from datacenter deployment to digital banking. From 23-26 February, network with 7000+ Senior IT Leaders across the Malaysia, Indonesia, Singapore, Vietnam, Philippines, and Thailand markets.Digital Week is the webinar experience: REVAMPED.Our virtual platform is a community hub for you to access more content and engagement than ever:- Interactive industry chat rooms- Live speaker Q&A sessions- 1-on-1 video calls between attendees - Conference-wide prizes and competitionsRegistration is open. Join the conversation today! Register here: https://whova.com/portal/registration/digit2_202102/For more information, please visit https://w.media/digital-week/.About W.MediaW.Media is a global B2B technology marketing agency specialising in PR, Media, and Events. It is the anchor of the cloud, datacenter and cybersecurity communities in Asia Pacific, combining market knowledge and network to uplift brands via targeted communication. W.Media educates both industry stakeholders and the public on the latest developments in ...

SeaPRwire

Jobless claims dip in US, but recovery yet to take hold

elean 2 1 月

4 minutes

WASHINGTON • Fewer Americans sought unemployment benefits last week, but the modest drop did little to dispel concerns that the US job market and wider economy face an arduous recovery from the devastation inflicted by the coronavirus pandemic last year. The final major economic data point for last year, which saw a recession of historic magnitude erupt out of nowhere, stood as a fitting reminder for both how far the recovery has progressed and how much more it has to go. While new claims for benefits reported by the US Labour Department on Thursday dropped for the second week in a row to a seasonally adjusted 787,000 in the week ended Dec 26, from 806,000 a week before, it left them at roughly the level they were three months ago and with little indication they would show material improvement any time soon. The arrival of effective Covid-19 vaccines and additional federal pandemic aid have set the stage for a brighter 2021. But economists agree that the still-raging epidemic and the fractured government response to it mean more hard months ahead before improvement takes hold. "While prospects for the economy later in 2021 are upbeat, the economy and labour market will have to navi...

SeaPRwire

Pound drops after leaders dinner fails to break Brexit impasse

elean 10 12 月

2 minutes

SINGAPORE (BLOOMBERG) - The pound fell after the UK and the European Union agreed to give Brexit trade negotiations until Sunday (Dec 13), with large gaps remaining between the two sides. The new deadline comes after British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen held talks over dinner without a breakthrough. Sterling fell as much as 0.6 per cent to US$1.3320 in early Asia trading after ending the New York session up 0.3 per cent as the dinner continued. It pared some losses to trade at US$1.3353 as at 7:19am in Singapore. "We're not pricing no deal yet, but the odds are increasingly moving in that direction," said Jeremy Stretch, head of G-10 currency research at Canadian Imperial Bank of Commerce in London. Negotiators are "still talking, so that suggests that immediate downside may be contained ahead of early week lows at 1.3225." With only weeks remaining to reach an accord, many traders had pinned their hopes on the face-to-face meeting. Negotiations reached an impasse in recent days despite eight months of technical talks. If a trade agreement isn't struck by the end of year, the UK could face tariffs on exports to the bloc among m...

SeaPRwire

Asia shares at all-time highs on US stimulus, vaccine hopes

elean 7 12 月

4 minutes

SYDNEY (REUTERS) - A gauge of Asian shares hit a record peak on Monday (Dec 7) on hopes of a much-needed US stimulus package before year-end just as coronavirus vaccines roll out, while oil prices hovered near their highest since March. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent to 643.1 points, on track for its fifth straight session of gains. It is up 16.3 per cent so far this year, the best since a 33 per cent jump in 2017. Japan's Nikkei added 0.1 per cent while Australian shares climbed 0.8 per cent. Britain is preparing to become the first country to roll out the Pfizer/BioNTech COVID-19 vaccine this week. US authorities will also this week discuss the programme before the expected first round of vaccinations this month. Hopes the vaccines will help curb the pandemic which has so far killed more than 1.5 million people globally sent shares soaring in recent weeks. On Wall Street, stock indexes reached fresh all-time highs on Friday with the Dow rising 0.8 per cent, the S&P 500 gaining 0.9 per cent and the Nasdaq adding 0.7 per cent. "The vaccine will break the link between mobility and infection rate, allowing for the strongest global GDP gro...

ACN Newswire

Singapore Fintech Festival and the Singapore Week of Innovation and Technology to feature world�s first 24-hour hybrid digital and physical event

indie 3 12 月

6 minutes

SINGAPORE, Dec 3, 2020 - (ACN Newswire) - The Singapore Fintech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH), the world's first week-long round-the-clock, hybrid digital and physical event, will run from 7 to 11 December 2020. Organised by Monetary Authority of Singapore and Enterprise Singapore, the event will feature a unique hybrid format that combines a 24-hour online event platform with global satellite events around the world.SFF x SWITCH 2020 will feature a digital city that will allow participants access to over 650 speakers from the global innovation and tech community, 150 content partners, 200 sessions to engage participants and more than 900 exhibitors on the Digital Singapore platform. Participants can access live content broadcasts running round-the-clock and on-demand sessions. Established speakers participating at SWITCH include:- Dr Chi Youngcho, President and CIO, Hyundai Motor Group- Timothy Draper, Founding Partner, Draper Associates- Henry Ma, Executive Vice President and Chief Information Officer, WeBank- Professor H.S. Philip Wong, Willard R. and Inez Kerr Bell, Professor of School of Engineering, Stanford University - Albert, C...

ACN Newswire

BrewBilt Closes $550k in New Orders Just This Week with Oakland Based Brewery Along with $1.2M in Quotes to Restaurants

indie 23 11 月

4 minutes

SACRAMENTO, CA, Nov 23, 2020 - (ACN Newswire) - Today BrewBilt Manufacturing Inc. (the "Company") (OTCPINK: BBRW), announced that the company received $550,000 in new orders this week, while it filed its Form-10Q ending September 30, 2020 with approximately $1M in sales, up from $500,000 in 2019 for the same period; with more than $700,000 net profit up from $100,000 in 2019. The company is showing gains of 5X, while reducing liabilities in the amount of $100,000 compared to 2019.Jef Lewis, CEO, stated, "With the projected $20M in brewery revenue for 2021, BrewBilt received several orders this week, including SGIC's order of $45,000 for the new consumer 2BBL home brewery which will debut in 2021 in our advertising campaign, and a commercial order from Ghost Town Brewer in Oakland, California for $500,000, inclusive of our new fully automated brewery consisting of 30 BBL. Ghost Town will also receive our newest accessory Mobile Flow Meter which allows the user to monitor the volume of liquid being transferred from vessel to vessel. The new flow meter is a first in the industry and will sell for $7,500."The company launched a new advertising campaign this quarter with multiple major ...

SeaPRwire

Asia stocks gain as vaccine shields Covid-19 second wave worries

elean 16 11 月

4 minutes

SYDNEY (REUTERS) - Asia's stock markets opened higher on Monday (Nov 16), as vaccine optimism offset worries about rising coronavirus cases in Europe and new lockdowns in the United States, while oil prices and risk-exposed currencies also edged higher. Japan's Nikkei opened 1 per cent higher at 29-year peak. Australia's ASX 200 rose 1 per cent to an eight-month high and MSCI's broadest index of Asia-Pacific shares outside Japan stood at its highest since January 2018. S&P 500 futures rose 0.7 per cent following the index's record closing high on Friday and futures pointed to positive a positive start to the week in Hong Kong. The US dollar, meanwhile, was marginally lower against the Antipodean currencies. Oil prices crept higher, though not enough to recoup late-week losses on worries about the winter ahead. Traders are expecting more good vaccine news as soon as this week from drugmaker Moderna, following the successful trial of Pfizer's similar drug - and that seems enough to assuage nearer-term concerns about the virus' economic harm. "There's just mountains of cash sitting on the sidelines, waiting to be put to work and since we've got this vaccine news, as well as diminished...

ACN Newswire

POWER WEEK ASIA 2021: Lifelike Virtual Conference for Power & Energy Experts

indie 13 11 月

4 minutes

SINGAPORE, Nov 13, 2020 - (ACN Newswire) - The 6th annual POWER WEEK ASIA Virtual Conference (15 - 18 March 2021) is now open for registration. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world. POWER WEEK ASIA attracts the industry leaders from national power companies, government regulators, policy makers, renewable & IPPs, investors and suppliers from around the globe. With C-level speakers and attendees all under one roof, it offers the chance to learn the success strategies and pitfalls of notable power projects. The conference features 20+ engaging sessions covering government regulation & policy, market liberalisation, energy mix & integration, fossil fuels in power market, demand & supply, renewable energy outlook, energy transition, utility-scale solar development, wind energy, tariffs, energy storage, smart grid technologies, mini-grid & microgrid, digitalisation, electric vehicles, power trading, project finance, project development, energy efficiency and many more. Join in from wherever you are online either live or watch the sessions on-dem...

ACN Newswire

HKTDC initiatives enhance digital experience for SMEs

indie 12 11 月

10 minutes

HONG KONG, Nov 12, 2020 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) has upgraded its hktdc.com Sourcing platform in the run-up to the HKTDC Autumn Sourcing Week | ONLINE virtual exhibition, helping small and medium-sized enterprises (SMEs) capture global business opportunities and adapt to digital sourcing models in the post-pandemic new normal.Hong Kong Trade Development Council (HKTDC) Deputy Executive Director Benjamin Chau said the HKTDC has launched various initiatives, including the revamped hktdc.com Sourcing platform and its HKTDC Autumn Sourcing Week | ONLINE (ASWO) virtual fair, to help small and medium-sized enterprises (SMEs) adapt to digital-sourcing models in the post-pandemic new normal and assist them in capturing global business opportunities.Autumn Sourcing Week | ONLINE, which opens next Monday (16 November), welcomes 2,600 exhibitors from 33 countries, including 37 pavilions. It offers a one-stop online sourcing platform for buyers and suppliers to continue to explore more business opportunities across 11 industries including electronics, houseware, lighting, outdoor lighting, eco tech, gifts and premiums, toys, baby products, stationery, ...

SeaPRwire

Asia shares, US stock futures rise on Biden victory

elean 9 11 月

3 minutes

SYDNEY (BLOOMBERG, REUTERS) - Asia shares and US stock futures climbed on Monday (Nov 9) and the US dollar extended last week’s decline, with markets continuing to show a pattern favorable for risk-taking in the wake of President-elect Joe Biden’s assumed victory. S&P 500 futures were up 1 per cent in early trading, building on the strongest week since April for the US equities gauge, as Biden prepared to launch his transition effort on Monday. Japan's Nikkei index rose 1.2 per cent, Australia's S&P/ASX 200 Index surged 1.5 per cent while South Korea's Kospi index opened up 0.9 per cent. Biden, in his victory speech over the weekend, promised swift action against the pandemic and an orderly transfer of power following the election. By being declared winner in Pennsylvania, Biden passed the threshold of 270 Electoral College votes needed to capture the presidency and media networks at the weekend declared him victorious. President Donald Trump is weighing legal challenges and has so far refused to concede. "The most likely outcome is that Democrats will retain control of the House with Republicans retaining the Senate. This is likely to mean Biden's proposed tax hikes won't pass the...

SeaPRwire

US stocks end best week in months with muted session

elean 7 11 月

1 minute

NEW YORK (AFP) - Wall Street stocks finished their best week in months with a muted session on Friday (Nov 6) as Joe Biden inched closer to victory in the still-unresolved presidential election. The broad-based S&P 500 finished at 3,509.44, down less than 0.1 per cent for the session, but up 7.3 per cent for the week, its best since April. The Dow Jones Industrial Average shed 0.2 per cent to 28,323.40, while the tech-rich Nasdaq Composite Index added 0.4 percent at 13,254.32.

SeaPRwire

US stocks extend post-election rally, Dow up 2%

elean 6 11 月

2 minutes

NEW YORK (AFP) - Wall Street stocks rose for a fourth straight session on Thursday (Nov 5) on continued positive momentum after the US election despite no closure yet to the presidential contest. The Dow Jones Industrial Average rose 2 per cent to 28,390.18, up around 540 points. The broad-based S&P 500 also gained 2 per cent to 3,510.45, while the tech-rich Nasdaq Composite Index jumped 2.6 per cent to 11,890.93. Analysts have said the rally reflects enthusiasm at the apparent outcome of the election, which may leave Washington politically divided and pose a barrier to sweeping policy changes that could upset investors, such as tax increases. Briefing.com pointed to the continued gains as evidence of a "fear of missing out" in the wake of a seemingly sky-bound market. The gains also come after major US indices last week suffered their worst week since March. There were no major developments in the US presidential contest, with five states still undeclared amid the counting of mail-in and absentee votes. Following a two-day meeting, the Federal Reserve restated its pledge to use all its tools to help the US economy recover from the coronavirus pandemic, but did not announce any new...

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