While You Were Sleeping: 5 stories you might have missed, Aug 1, 2025
US President Donald Trump doubled down on his wide-ranging levies on July 31.
Trump's trade policy faces test, hours from tariff deadline
President Donald Trump's dream of a new world trade order faced a crucial test on July 31, with dozens of economies – including key commercial partners like Canada – yet to secure US tariff deals ahead of a midnight deadline.
The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Mr Trump's strategy of invoking emergency economic powers to declare sweeping duties on imports.
The 79-year-old Republican doubled down on his wide-ranging levies, posting on Truth Social: 'Tariffs are making America GREAT & RICH Again.'
He insisted in a separate post that the world's biggest economy would have 'no chance of survival or success' without protectionist measures.
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Russia's actions in Ukraine 'disgusting', says Trump
PHOTO: REUTERS
US President Donald Trump said on July 31 that Russia's actions in Ukraine were 'disgusting' and indicated that new sanctions against Moscow were coming over its invasion of its neighbour.
'Russia – I think it's disgusting what they're doing. I think it's disgusting,' Mr Trump told journalists. 'We're going to put sanctions. I don't know that sanctions bother him,' the US president said, referring to his Russian counterpart Vladimir Putin.
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Singapore 'For one last time, let's go home': Tears, laughs as last scheduled Jetstar Asia flight touches down
Singapore Over half of job applications by retrenched Jetstar Asia staff led to offers or interviews: CEO
Singapore No entry: ICA to bar high-risk, undesirable travellers from boarding S'pore-bound ships, flights
Singapore 5 foreign women suspected of trafficking 27kg of cocaine nabbed in Changi Airport
Singapore Fallen tree branch damages two Yishun flats, showering one home owner in shattered glass
Singapore Man accused of raping woman who hired him to fix lights in her flat claims she made first move
Singapore 1 ticket wins $12.8 million Toto jackpot draw
Singapore 'Switching careers just as I became a dad was risky, but I had to do it for my family'
On July 31, at least 16 people were killed, including a six-year-old boy, and more than 100 wounded during a pre-dawn wave of missile and drone strikes on Ukraine's capital, Kyiv
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US Senator Roger Wicker to visit Taiwan
PHOTO: REUTERS
US Senator Roger Wicker, chairman of the powerful Senate Armed Services Committee, will lead a congressional delegation to Taiwan in August, a senior congressional official said on July 31.
The trip, which was first reported by the Financial Times, takes place as some members of Congress - both President Donald Trump's fellow Republicans and Democrats - have expressed concern that Mr Trump is de-emphasising security issues as he works on negotiating a trade deal with China.
Lawmakers have proposed legislation to put pressure on China and voiced unhappiness with reports that Taiwanese President Lai Ching-te is set to delay a diplomatically sensitive trip his team had floated to the Trump administration for August that would have included stops in the United States.
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US end of parcel tax relief threatens eBay, Etsy trade
PHOTO: ISTOCKPHOTO
Americans shopping for secondhand, vintage or handmade items on platforms like eBay and Etsy face steep customs duties on international purchases in August, potentially hurting trade on those peer-to-peer sites.
In a surprise move late on July 30, US President Donald Trump ordered the removal of 'de minimis' duty-free treatment on parcels under US$800 (S$1,000) from all countries, starting Aug 29 - bringing forward a change previously set for July 2027.
The acceleration follows pressure from groups that argue the exemption facilitates fentanyl smuggling and has led to a flood of cheap products entering the US duty-free, undermining US retailers and manufacturers.
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Summer McIntosh claims 3rd title, misses world mark
PHOTO: LIANHE ZAOBAO
Even after producing yet another dominant performance to claim her third title of the World Aquatics Championships (WCH) in Singapore, Summer McIntosh's immediate reaction was not one of jubilation.
Instead, the Canadian sensation looked visibly upset, covering her face with her hands after seeing her timing of 2min 1.99sec that won her the women's 200m butterfly final at the WCH Arena on July 31.
It was a personal best, championships and Americas record, but the 18-year-old's first thought was how she had just missed out on the all-time mark set in 2009 by China's Liu Zige – by just 0.18 of a second.
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Straits Times
12 minutes ago
- Straits Times
Here are the 10 best-performing ETFs on SGX
Sign up now: Get ST's newsletters delivered to your inbox As at June, Singapore's ETF market comprised 47 listings with total assets under management reaching $14.3 billion, up 32 per cent year on year. SINGAPORE - Exchange-traded funds (ETFs) listed on the Singapore Exchange (SGX) have recorded net inflows of $700 million in the first half of 2025, according to the local bourse's latest ETF Market Highlights report. This is supported by $1.2 billion in net creations across 22 ETFs, alongside $500 million in net redemptions from 13 ETFs. As at June, Singapore's ETF market comprised 47 listings with total assets under management (AUM) reaching $14.3 billion, up 32 per cent year on year. Equity and gold ETFs led the growth, with turnover increasing by 69 per cent and 62 per cent, respectively. Retail segment turnover also saw strong momentum, climbing 67 per cent. Inflows for Singapore-focused ETFs stood at $568 million, driven by declining Singapore dollar rates and robust market momentum. In particular, the combined AUM of the SPDR Straits Times Index ETF and Nikko AM Singapore STI ETF hit a record high of $2.8 billion in June. Here are the top 10 SGX-listed ETFs in terms of total returns for the first half of 2025. As a gauge, the US S&P 500 is up more than 8 per cent this year. 1. SPDR Gold Shares The SPDR Gold Shares ETF tracks the performance of gold bullion, with its underlying index being LBMA Gold Price PM. As such, it provides investors with direct exposure to gold prices without the need to hold physical metal. Its return rate was the highest among all SGX-listed ETFs for the half year at 17 per cent. With growing geopolitical uncertainties and robust safe-haven demand, the ETF saw record inflows and AUM, as holdings surged 75 per cent year on year to reach $2.4 billion in June 2025. 2. Phillip SING Income ETF The top Singapore equity ETF for H1 of this year offers exposure to 30 high-yielding SGX-listed stocks screened for quality and financial health. Its interest is in income-focused strategies and has a dividend yield of 3.6 per cent. It tracks the Morningstar Singapore Yield Focus Index and saw a return of 11.9 per cent for the half year and nearly 26 per cent for the full year. 3. Lion-Nomura Japan Active ETF (Powered by AI) An actively managed ETF using artificial intelligence (AI)-driven models to select constituents from Japan's Tokyo Stock Price Index, its returns for the first half year was at 11.7 per cent. Its total returns for one year stood at 13.8 per cent. The Lion-Nomura Japan Active ETF is the second best performing equity ETF on SGX for the half year. 4. Lion-OCBC Securities Hang Seng Tech ETF The ETF tracks the Hang Seng Tech Index, and provides exposure to 30 of the largest Chinese tech firms listed in Hong Kong, such as Tencent, Alibaba, and Meituan. Its first half year return stood at 10.4 per cent. The Lion-OCBC Securities Hang Seng Tech ETF continued to perform well amid China's stimulus efforts and optimism on AI-related technologies despite broader macro challenges. Its top three sectors are consumer discretionary, communications and information technology, with its AUM standing at $378 million as at May 2025. 5. Lion-OCBC Securities APAC Financials Dividend Plus ETF This ETF tracks top dividend-paying financial stocks across Apac via the iEdge APAC Financials Dividend Plus Index, with a 9.9 per cent return recorded for the period. It is able to offer stable income and quality exposure to the region's banking and insurance sectors, and benefits from regional rate cut expectations. The Lion-OCBC Securities APAC Financials Dividend Plus ETF is the fourth top-performing equity SGX-listed ETF for the half year. 6. Xtrackers FTSE Vietnam Swap UCITS ETF This ETF offers exposure to Vietnam's equity market, which made gains on manufacturing recovery and foreign direct investment inflows. It tracks the FTSE Vietnam Index, and benefits from Vietnam's export-driven growth and regional supply chain shifts. For the first half, its return stood at 9.9 per cent. It is the fifth top-performing equity SGX-listed ETF for the half year. 7. CGS-Fullgoal Vietnam 30 Sector Capped ETF The CGS-Fullgoal Vietnam 30 Sector Capped ETF tracks 30 of Vietnam's top-performing sectors with caps to prevent over-concentration. It gives investors balanced exposure across financials, industrials, and consumer sectors – key growth drivers in the country's economy. The ETF's underlying index is the SGX iEdge Vietnam 30 Index, and recorded a first-half return of 9.7 per cent. 8. Xtrackers MSCI Singapore UCITS ETF The ETF benefited from the recovery in property and banking stocks, and Singapore dollar-focused investor sentiment amid falling local rates. It provides exposure to large-, mid-, and small-cap Singapore companies by tracking the MSCI Singapore Investable Market Total Return Net Index, with a first half return of 9.7 per cent. 9. UOB APAC Green REIT ETF Focused on high-yield real estate investment trusts (Reits) across Apac with strong ESG credentials, the UOB APAC Green Reit ETF achieved the best half year performance among the five Reit ETFs listed on the SGX. It tracks the iEdge-UOB APAC Yield Focus Green Reit Index, with a first half half return at 9.3 per cent. The ETF recorded the highest returns among SGX's sustainability-linked ETFs as well for H1 of this year. 10. Xtrackers MSCI China UCITS ETF This ETF offers broad exposure to Chinese equities including tech, financials, and consumer names, as its underlying index is the MSCI China TR Net Daily USD Index. For the half year, its returns stood at 8.9 per cent. It tracks the performance of large and mid-cap Chinese companies across A Shares, H Shares, B Shares, Red Chips, P Chips and foreign listings. Reit ETFs see new AUM all-time high; S-Reits record strong distribution yield Amid the current murky geopolitical and global trade climate, SGX-listed Reit ETFs displayed strength in the first half, with S-Reit ETFs offering highest returns in June. S-Reit ETFs also have the highest gross dividend indicated yields of up to 6 per cent now. The AUM value of Reit ETFs achieved a new record of nearly $1.2 billion, surpassing the last high in September 2024 of around $1 billion. UOB APAC Green Reit ETF recorded the top half-year returns level of 9.3 per cent followed by Phillip APAC Div Reit ETF with 7.5 per cent. CSOP iEdge S-Reit ETF was the best performer for the month of June, returning 4.7 per cent. The five Reit ETFs pay out an average dividend of close to 5.2 per cent, with the CSOP iEdge S-Reit ETF's 12-month gross yield at about 6 per cent. According to SGX data in June, retail investors were the net buyers of S-Reits, as the sector received a total net retail inflow of around $400 million as at June 26.
Business Times
12 minutes ago
- Business Times
US explores better location trackers for AI chips, official says
[TAIPEI] The US is exploring ways to equip chips with better location-tracking capabilities, a senior official said, underscoring Washington's effort to curtail the flow of semiconductors made by the likes of Nvidia to China. Washington has espoused working with the industry to monitor the movements of the sensitive components, part of a broader plan to curtail smuggling and ensure American technology remains dominant. Last week, Beijing summoned Nvidia representatives to discuss US efforts around location-tracking and other alleged security risks related to its H20 chips. 'There is discussion about potentially the types of software or physical changes you could make to the chips themselves to do better location-tracking,' said Michael Kratsios, one of the architects of a US artificial intelligence (AI) action plan unveiled by US President Donald Trump last month. 'That is something we explicitly included in the plan,' the White House Office of Science and Technology Director said. Trump's blueprint has provoked a backlash in Beijing, which for years railed against alleged US surveillance and Washington's efforts to curtail its tech sector. The Chinese government is particularly sensitive to semiconductor sanctions designed to counter Huawei Technologies or rising AI developers such as DeepSeek. Trump officials recently pledged to lift export restrictions on the H20 to China as part of a trade deal they say will secure sales of rare-earth magnets to the US. But Washington is also focused on curtailing the smuggling of chips. Kratsios said on Tuesday that he's not had conversations 'personally' with either Nvidia or Advanced Micro Devices about exploring location-tracking technology. Last week, Nvidia said that it does not have 'backdoors' in its chips. Kratsios, who was in South Korea to attend an Apec Digital Ministerial Meeting, took aim at China's own AI action plan, which involves forming a global organisation to devise governance and technology standards. 'We believe each country should set their own destiny on how they think about regulating artificial intelligence,' he said. 'The US model, which puts innovation first, will be the most attractive.' BLOOMBERG
CNA
42 minutes ago
- CNA
Asian markets track Wall St rally on Fed rate cut bets
HONG KONG: Stock markets rose on Tuesday (Aug 5) as investors grow increasingly confident the Federal Reserve will cut interest rates next month, despite concerns about the United States economy and Donald Trump's tariffs. The gains tracked a rally on Wall Street, where traders rediscovered their mojo following Friday's sell-off that was fuelled by news that fewer-than-expected American jobs were created in July, while the previous two months' figures were revised down sharply. The reading raised concerns that the world's biggest economy was in worse shape than expected, though it also fanned bets the Fed will slash in September, with markets pricing the chance of a 25-basis-point reduction at about 95 per cent, according to Bloomberg. There is also talk that bank officials could go for twice as much as that. "The narrative flipped fast: soft jobs equals soft Fed, and soft Fed equals risk-on," said Stephen Innes at SPI Asset Management. But he warned that "if cuts are coming because the labour market is slipping from 'cooling' to 'cracking', then we're skating closer to the edge than we care to admit". He added: "That dichotomy - between rate cuts as stimulus and rate cuts as warning flare - is now front and centre. "If the Fed moves proactively to shield markets from the tariff storm and weak labour, the equity rally has legs. But if policymakers are reacting to a sharper downturn that is in full swing, the runway shortens quickly." In early trade, Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila and Jakarta were all in the green. However, while there is a broad expectation that the Fed will cut rates, Lazard chief market strategist Ronald Temple remained sceptical. "I continue to believe the Fed will not reduce rates at all this year, given rising inflation caused by tariffs and a relatively stable unemployment rate," he wrote. "I would align with the majority of the FOMC members who believe it is more appropriate to hold policy constant until there is greater clarity in terms of the effects of tariffs and stricter immigration enforcement on inflation and employment." Traders were keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 per cent on them. Among those to strike a deal is India, which Trump on Monday threatened to hit with "substantially" higher rates over its purchases of Russian oil.
