CNA938 Rewind - Stock take today: Inflation holds steady, rate cut bets grow
The Ministry of Trade and Industry (MTI) has upgraded Singapore's gross domestic product (GDP) growth forecast for the year to 1.5 per cent to 2.5 per cent, up from 0 per cent to 2 per cent previously. The upgrade largely reflects the better-than-expected performance of the Singapore economy in the first half of 2025. As uncertainty from Trump tariffs looms, will Singapore be able to maintain its GDP growth forecast? Andrea Heng and Hairianto Diman find out from Sheana Yue, Economist, Oxford Economics.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
South Korea to expand securities settlement hours for global investors
SEOUL :South Korea will extend operating hours for transaction settlement systems at the central bank and the securities depository starting April 2026, aiming to ease access for foreign investors across different time zones, the finance ministry said on Thursday. The Bank of Korea's operating hours will expand to 9 a.m. and 8 p.m. local time (0000-1100 GMT), from 9 a.m. and 5:30 p.m, aligning closer to those of countries included in FTSE Russell's World Government Bond Index, which South Korea is set to join in April 2026. The measure is the first step taken by the government since forming a task force to upgrade South Korea's domestic stock market to developed-market status from emerging market classification by Morgan Stanley Capital International (MSCI). Achieving MSCI's developed status remains a long-standing national goal and a key pledge by President Lee Jae Myung.
CNA
2 hours ago
- CNA
CNA938 Rewind - Mind Your Money - What it takes to grow a nation's heart
We all hope for a more inclusive, caring and resilient Singapore, so how can we rally our business leaders to embody that same values? Hui Wong speaks with Feon Ang, Managing Director, LinkedIn APAC and Tony Lai, Chief Operating Officer, NVPC about their campaign In Good Company to champion leaders who gives back.
CNA
3 hours ago
- CNA
Asian markets mixed as bitcoin surges to new high
TOKYO: Bitcoin hit a new peak during early Asian trading on Thursday (Aug 14), as the yen surged after the United States Treasury Secretary said he expects Japan to hike interest rates. The cryptocurrency rose above its previous July record, briefly exceeding US$124,500 before retreating. Bitcoin's value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer of the crypto sector. "The crypto market is enjoying a period of highly favourable fundamentals," said Samer Hasn, senior market analyst at XS. Japan's currency rose significantly against the dollar, climbing to its highest level since late July after US Treasury Secretary Scott Bessent said that he had told the Bank of Japan governor that it was "behind the curve" in its fight against inflation. "So they're going to be hiking and they need to get their inflation problem under control," Bessent told Bloomberg TV. Bessent said that the Bank of Japan was "behind the curve" in its fight against inflation, telling Bloomberg he had discussed the issue with the institution's governor, Kazuo Ueda. "So they're going to be hiking and they need to get their inflation problem under control," he added. The Bank of Japan, which has long maintained a negative interest rate policy, began monetary tightening in 2024. However, it left rates unchanged at the end of July and is expected by observers to maintain the status quo at its next monetary policy meeting in September. Bessent "may be trying to weaken the dollar through his comments", according to Hideo Kumano of Dai-Ichi Life Research Institute, as cited by Bloomberg. Bessent and President Donald Trump are pushing Federal Reserve Chairman Jerome Powell to lower rates as quickly as possible. Hopes of rate cuts following soft inflation data released on Tuesday had boosted stock markets, with the broad-based S&P 500 index and the tech-heavy Nasdaq reaching new summits this week.
