Daily Debrief: What Happened Today (May 9)

Stories you might have missed

OCBC keeps 2025 guidance, but loan growth targets could be buffeted by headwinds: CEO Helen Wong

[SINGAPORE] OCBC is keeping its financial targets for 2025, but noted that its loan growth guidance of a mid-single digit will likely see the most headwinds, especially if the market continues to be “very uncertain”, said chief executive officer Helen Wong on Friday (May 9).

Singapore dollar hits 7-month high against the greenback; what’s the prognosis for 2025?

[SINGAPORE]  The Singapore dollar and other Asian currencies are continuing to gain ground against the US dollar as the tariff fallout weighs on the greenback.

Brokerage wars: Incumbents push back as investors flock to Moomoo, Tiger Brokers, FSMOne

[SINGAPORE] A digital brokerage boom erupted amid the pandemic. But, unlike other trends that emerged during Covid-19 and eased over time, the online trading frenzy seems here to stay. 

ST Engineering posts 8% rise in Q1 revenue to S$2.9 billion as contract wins surge

[SINGAPORE] ST Engineering’s revenue rose 8 per cent to S$2.9 billion for the first quarter ended March, from S$2.7 billion in the corresponding year-ago period, on the back of broad-based growth across all segments. The group also said it sees “immaterial financial impact” from the tariff war but continues to monitor the evolving situation.

Marco Polo Marine posts 3.4% decline in H1 profit to S$10.6 million

[SINGAPORE] Marco Polo Marine on Friday posted a 3.4 per cent year on year decline in H1 net profit to S$10.6 million, from S$11 million. The results translate to earnings per share of S$0.0028, against S$0.0029 in the same period last year.

Singapore stocks rise on US-UK trade deal; STI up 0.7%

[SINGAPORE] Local stocks ended higher on Friday (May 9), as investors reacted positively to news of the US striking a trade deal with the UK – the first after President Donald Trump announced sweeping tariffs worldwide.