Market ends flat after strenuous week
ALTHOUGH the US Federal Open Market Committee (FOMC) meeting this week provided the main talking point among investors, there were many others that were almost equally noteworthy.
There was a bond default by a large China property firm and simmering tensions in Ukraine because of Russia's annexation of Crimea that raised anxiety levels. Closer to home, there was negative news affecting Johor property play Albedo Investment that dampened sentiment in penny stocks and large movements in the Jardine group - particularly Jardine Cycle & Carriage (JC&C) - that caused heightened volatility in the Straits Times Index (STI).
At the end of the five days the index stood almost flat, registering a 0.33 point loss to 3,073.39, yesterday's 16.19-point rise coming largely because of gains in Jardine Matheson, JC&C and the banks. Volume in yesterday's session was, however, a poor 1.6 billion units worth…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Ford profit beats on commercial sales; EVs still dragging
WhirlPool is cutting 1,000 jobs as US appliance demand remains stagnant
Anglo American says it received unsolicited buyout proposal from BHP
TSMC says ‘A16’ chipmaking tech to arrive in 2026, setting up showdown with Intel
Meta profits soar but costs of AI cause worry
IBM falls on weak consulting sales, overshadowing HashiCorp deal