Market Focus Daily: Tuesday, July 30, 2024 (Ep 112)

Published Tue, Jul 30, 2024 · 05:46 PM

Market updates for Tuesday. PHOTO: ADOBE STOCK

Asian markets fell today; China bond rally smashes records, inviting central bank intervention; Bank of Japan likely to focus on cutting 10-year bond buying; Oil traders, tech professionals among biggest earners in Singapore in 2023.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Recording engineer: Joann Chai Pei Chieh

Produced and edited by: Lee Kim Siang & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

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Singapore shares open higher on Tuesday; STI up 0.2%

Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Jakarta and Manila stock markets were all lower but Wellington edged higher at mid day on Tuesday.

Asia: Investors trade cautiously ahead of central bank decisions

Earlier this month, the PBOC said it had prepared “hundreds of billions” of yuan of government bonds at its disposal through agreements with lenders. That suggested it was contemplating selling those notes to cool the rally.

China bond mania smashes records, setting up showdown with PBOC

Ten-year swap spreads are below zero near the lowest since at least late 2021 on a closing basis, meaning bonds have cheapened relative to swaps.

Bank of Japan likely to focus on cutting 10-year bond buying, data suggests

Jobs pertaining to technology, finance and the media were also well represented among the top 20 roles ranked by median gross wage.

Oil traders, tech professionals among big earners: MOM salary data

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Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

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