Latest news with #JoseTorres
Straits Times
23-05-2025
- Business
- Straits Times
STI inches up on May 23, tracking regional indexes
SINGAPORE – A calmer session on American bond markets following progress of President's Trump's tax-and-spend bill steadied Wall Street and gave regional markets a lift as well on May 23. The better mood nudged the Straits Times Index (STI) up 0.1 per cent or 2.33 points to 3,882.42 while gainers just beat losers 232 to 213 on trade of 1.2 billion shares worth $1.2 billion. The local banks all rose: DBS added 0.6 per cent to $44.46; UOB advanced 0.1 per cent to $35.32; and OCBC put on 0.9 per cent to $16.29 and the index's top gainer. The biggest loser was Yangzijiang Shipbuilding, down 3.7 per cent to $2.06. The upbeat sentiment stemmed from a placid day on Wall Street that mirrored the more stable bond market. The S&P 500 and Dow Jones Industrials each dipped 0.1 per cent while the tech-heavy Nasdaq rose 0.3 per cent. US stocks are recovering from a sell-off sparked by May 21's Treasury auction, as the bond vigilantes approved the taxation bill passed by the US House of Representatives, said Mr Jose Torres, senior economist at Interactive Brokers. More expenditure reductions were offered compared with the original, appeasing fiscal hardliners. He added that equities are also being bolstered by promising data in services and manufacturing following the Opec+ discussions favouring further oil production increases. AMP chief economist Shane Oliver noted that US and global shares have recovered more than 80 per cent since the April falls sparked by the Trump tariffs and are now within 2 to 3 per cent of their record highs. Major regional indexes were mostly higher. The Nikkei 25 in Japan was up 0.5 cent, Hong Kong's Hang Seng added 0.2 per cent and Malaysian stocks put on 0.6 per cent but the Kospi in Seoul closed down 0.1 per cent. Australia's bourse nudged head 0.2 per cent in quiet trading before long weekend holidays in the US and Britain. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
23-05-2025
- Business
- Business Times
STI inches up on Friday, tracking regional indices
[SINGAPORE] The Straits Times Index (STI) edged up on Friday (May 23), tracking regional indices. The STI closed up 0.1 per cent or 2.33 points to 3,882.42. Across the broader market, advancers outnumbered decliners 232 to 213, after 1.2 billion shares worth S$1.2 billion changed hands. The trio of local banks closed higher on Friday, with DBS up 0.6 per cent or S$0.27 at S$44.46, and UOB up 0.1 per cent or S$0.05 at S$35.32. OCBC closed 0.9 per cent or S$0.15 higher at S$16.29, and was the top gainer on the STI. The biggest loser was Yangzijiang Shipbuilding, which ended 3.7 per cent or S$0.08 lower at S$2.06. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Across the region, major indices closed mostly higher, with the Nikkei 225 up 0.5 cent, and Hong Kong's Hang Seng Index increasing 0.2 per cent. The KLCI similarly rose 0.6 per cent, while the Kospi closed down 0.1 per cent. Stocks are recovering from a selloff sparked by Wednesday's Treasury auction, as the bond vigilantes approved of the taxation Bill passed by the US House of Representatives, said Jose Torres, senior economist at Interactive Brokers. More expenditure reductions were offered in this new Bill compared with the original, appeasing fiscal hawk hardliners. He added that equities are also being bolstered by the flash purchasing managers' index data in services and manufacturing, with yields finding support from the Opec+ discussions favouring further oil production increases. 'Washington (was) the greatest source of optimism for equity and fixed-income bulls on Thursday, however, as investors (scooped) up offensive stocks sporting growth and cyclical characteristics, Treasuries across the curve, greenback futures, Bitcoins and forecast contracts,' said Torres.
Yahoo
20-05-2025
- Yahoo
Hawaiian Airlines plane evacuated in San Diego after passenger makes bomb threat
A Hawaiian Airlines plane was evacuated on Tuesday shortly before its scheduled takeoff at San Diego International Airport after a passenger made a bomb threat. 'During pushback from the gate, a guest was overheard making a threat to the safety of our aircraft,' the airline said in a statement, per ABC 10 News. 'As a precaution, the captain immediately taxied the Airbus A330 to a safe location on the airfield, where it was met with local and federal law enforcement and guests were safely deplaned.' The flight was bound for Daniel K. Inouye International Airport in Honolulu with a scheduled 8:28 a.m. departure time. The airline said the plane had 283 passengers and 10 crew members on board. NBC News San Diego reported that dozens of patrol cars and unmarked black SUVs were seen parked around the plane. San Diego Harbor Police Sgt. Jose Torres told KPBS that the situation was still being assessed on Tuesday afternoon. He said the plane has been moved to a secure area and bomb-sniffing dogs were brought in to examine the luggage. The incident did not result in any issues with airport operations and any delays shown on FlightAware were not related to the incident, the airport said in a statement. ________
Bloomberg
16-05-2025
- Business
- Bloomberg
Interactive Broker's Torres: Trump-Trade Optimism On the Rise
Jose Torres, Interactive Brokers Senior Economist, breaks down the current US consumer sentiment following a flurry of tariff deals from President Donald Trump. Torres also delves into the potential political fallout from China's 30% tariff rates, as well as the unlikeliness of widespread US inflation. He joins Bloomberg's Dani Burger on "Bloomberg Brief." (Source: Bloomberg)
Business Times
22-04-2025
- Business
- Business Times
Singapore stocks continue to rally on Tuesday; STI up 1%
[SINGAPORE] Singapore stocks ended higher on Tuesday (Apr 22), even as other Asian markets delivered a mixed performance amid trade uncertainty. The benchmark Straits Times Index (STI) rose 1 per cent or 36.2 points to 3,795.41. Across the broader market, gainers outnumbered decliners 359 to 187, after 1.4 billion securities worth S$1.5 billion changed hands. The top gainer on the index was offshore and marine specialist Seatrium . The counter rose 4.3 per cent or S$0.08 to S$1.96. Meanwhile, the biggest decliner was Yangzijiang Shipbuilding , which slid 1.8 per cent or S$0.04 to S$2.21. This comes after the counter had surged 9 per cent on Monday after the US eased port fees on China-built vessels, and has been climbing since Apr 9, following news reports that the US might soften its stance. Yangzijiang had previously tumbled in February when the United States Trade Representative's office proposed a fee of up to US$1.5 million per port call on such ships. Singapore's trio of local banks continued their ascent on Tuesday, with DBS up 1 per cent or S$0.43 at S$41.85. OCBC rose 0.8 per cent or S$0.13 to S$16.38, and UOB increased 0.7 per cent or S$0.24 to S$35.54. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Across the region, major indices ended mixed following a weak start on Wall Street and the US dollar falling to a three-year low. The Bursa Malaysia Kuala Lumpur Composite Index fell 0.9 per cent, Nikkei 225 slipped 0.2 per cent, and the Kospi was down 0.1 per cent. Meanwhile, the Hang Seng Index gained 0.8 per cent and the IDX Composite advanced 1.4 per cent. This comes as US President Donald Trump seeks to counter the economic fallout from trade tensions and immigration restrictions by pushing for looser financial conditions. However, international tensions escalated over the Easter weekend, with Beijing warning countries against striking agreements with Washington that could come at China's expense, noted Jose Torres, senior economist at Interactive Brokers. 'President Trump's escalating demands for the Federal Reserve to lower rates are sparking market turbulence, and sending stocks and the greenback into free fall,' he added. Similarly, Bank of Singapore currency strategist Sim Moh Siong said that the decline in the US dollar has 'gained steam, and may continue amid concerns that the Fed's independence is at risk'. 'The triple combination of rising long-term interest rates, lower equities and a weaker currency is a very negative signal for the greenback,' he added.
