S&P 500, Nasdaq hit record highs at open on September rate cut hopes
US Treasury Secretary told Bloomberg TV that rates should likely be 150-175 basis points lower. “We could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September,” he said.
US deficit grows to US$291 billion in July despite tariff revenue surge
THE US government’s budget deficit grew nearly 20 per cent in July to US$291 billion despite a nearly US$21 billion jump in customs duty collections from President Donald Trump’s tariffs
RBA cuts interest rates, signals more to come as inflation slows
Australia’s central bank cut interest rates on Tuesday (Aug 12) for a third time this year (by a quarter point to 3.6%) and signalled further policy easing might be needed to meet its inflation,
US inflation report shows deepening impact of Trump’s tariffs
But the July data showed more businesses reaching a tipping point, left with little option but to raise prices following June’s notable uptick.
China’s $14.1 trillion stock market is staging a quiet resurgence
“Funds with a high risk appetite are gradually increasing their allocations to stocks, against the backdrop of low interest rates, a lack of good investment options and a surplus of liquidity,”
Singapore raises 2025 economic growth forecast but warns of uncertainty from US tariffs
The gross domestic product (GDP) growth forecast was raised to 1.5 per cent to 2.5 per cent, from an earlier range of 0 per cent to 2 per cent, the Ministry of Trade and Industry (MTI) said on Aug 12.
ST Explains: What is Vers and which HDB estates could it be rolled out in?
Vers, which has yet to be rolled out, will allow owners of flats aged 70 years and older to vote on whether the Government should buy back their homes before their leases run out.
China’s consumer inflation unchanged amid anti-price war campaign
A broad measure of prices across the economy, known as the gross domestic product deflator, has declined for nine straight quarters – its longest streak in decades.
Insurance par funds post robust returns in 2024; cautious stance for the longer term
Prudential, for instance, chalked up the strongest showing of 8.26 per cent for its par fund. Its equity exposure was 35.4 per cent, compared with 29.3 per cent in 2023.
Nasdaq ends at record high as US stocks post solid weekly gains
Investors took reassurance from the Trump administration’s willingness to exempt the semiconductor industry from onerous tariffs if companies commit to investing in the United States.
Singapore’s digital banks trim deposit rates, mirroring moves by incumbent players
The cuts reflect the ongoing decline of interest rates globally and could push customers to explore alternative investment options offering more attractive yields.
US mortgage rates fall for a third week, hitting lowest since April
The average for 30-year, fixed loans was 6.63 per cent, down from 6.72 per cent last week, Freddie Mac said.