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  • Sep 09, 2024

Asian Stocks Tumble as Concerns on US Economy Sinks Tech Shares

(Bloomberg) -- Asian equities headed for their lowest close in over three weeks, as technology stocks slid on concerns over US economic growth.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainThe MSCI Asia Pacific Index fell as much as

  • Sep 09, 2024

Singapore's UOB wants to dominate US$2 trillion trade finance market in Southeast Asia

United Overseas Bank (UOB), Singapore's third-largest lender by assets, is aiming to dominate trade financing in Southeast Asia, capitalising on the region's appeal as a beneficiary of a widening rift between the US and China. The bank, which serves thousands of small and medium enterprises (SMEs) and corporate giants, wants to capture a bigger slice of the US$2 trillion trade flows in the region, according to Frederick Chin, head of group wholesale banking and markets. "The bright spot will be

  • Sep 09, 2024

Dollar recovers as traders scale back bets of big Fed rate cut

The dollar recouped some of last week's losses on Monday as investors looked ahead to U.S. inflation data after Friday's mixed payrolls report sparked uncertainty about the size of a Federal Reserve rate cut next week. Focus turned to Wednesday's U.S. inflation report as the next main indicator that could alter market pricing for the Fed's September meeting. Friday's highly anticipated U.S. jobs data failed to offer clarity to traders on the question of whether the Fed would deliver a regular 25 basis point rate cut or an outsized 50 bps one at its Sept. 17-18 policy meeting.

  • Sep 09, 2024

Stocks Claw Back Losses With Fed Rate Path in Play: Markets Wrap

(Bloomberg) -- Stocks staged a partial recovery Monday after a selloff triggered by cooling US jobs data that left economists and traders at odds as to how aggressively the Federal Reserve will cut interest rates.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging E

  • Sep 09, 2024

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook

(Bloomberg) -- Oil rose from its lowest close since 2021, clawing back some of last week’s deep decline as the focus shifts to key reports on the market’s outlook.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainBrent climbed toward $72

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