Latest news with #JoseTorres
Bloomberg
6 days ago
- Business
- Bloomberg
10-20% Tariffs Won't Move the Needle: Torres
Interactive Brokers Senior Economist Jose Torres discusses the impact of tariffs on the economy and the outlook for the American consumer with Bloomberg's Matt Miller on 'Bloomberg Brief.' (Source: Bloomberg)
Business Times
23-07-2025
- Business
- Business Times
ST Index up on Wednesday, mirroring regional indices
[SINGAPORE] The Straits Times Index (STI) closed higher on Wednesday (Jul 23), mirroring regional indices. The STI rose 0.6 per cent or 23.02 points to 4,231.28. Across the broader market, advancers outnumbered decliners 427 to 164 after 2.4 billion shares worth S$1.7 billion changed hands. The trio of local banks closed higher on Wednesday, with DBS up 1.9 per cent or S$0.88 at S$48.13. UOB rose 0.6 per cent or S$0.23 to S$37.23 and OCBC closed up 0.1 per cent or S$0.02 at S$17.21. DFI Retail Group was the top gainer on the STI, closing up 9.2 per cent or US$0.29 at US$3.45. The biggest loser was ST Engineering , which dropped 2.1 per cent or S$0.18 to S$8.27. Across the region, major indices ended higher, with the Kospi gaining 0.4 per cent and the Nikkei 225 up 3.5 cent. Hong Kong's Hang Seng Index closed up 1.6 per cent and the KLCI rose 0.7 per cent. The fading momentum of tech stocks is starting to weigh on major US benchmarks, said Jose Torres, senior economist at Interactive Brokers. But the wider US market remains positive, as every other major sector was still upbeat during a quiet day for economic releases. Overreliance on the 'Magnificent 7' – comprising Apple, Alphabet, Microsoft, Amazon, Tesla, Meta and Nvidia – is contributing to the market turning defensive, picking up Treasuries, gold and volatility protection instruments, said Torres. With tech and communications services' rally bolstered by looser regulations, financial services could see the same impact as efforts are made to loosen regulations,' he added. 'While less red tape is poised to improve profitability at banks, the lending and capital expenditure implications of reducing regulations are also quite stimulative to the economy because additional funds are opened up for consumption, investment and fixed income purchasing,' said Torres.
Business Times
23-07-2025
- Business
- Business Times
ST Index inches up on Wednesday, mirroring regional indices
[SINGAPORE] The Straits Times Index (STI) closed higher on Wednesday (Jul 23), mirroring regional indices. The STI inched up 0.6 per cent or 23.02 points to 4,231.28. Across the broader market, advancers outnumbered decliners 427 to 164 after 2.4 billion shares worth S$1.7 billion changed hands. The trio of local banks closed higher on Wednesday, with DBS up 1.9 per cent or S$0.88 at S$48.13. UOB rose 0.6 per cent or S$0.23 to S$37.23 and OCBC closed up 0.1 per cent or S$0.02 at S$17.21. DFI Retail Group was the top gainer on the STI, closing up 9.2 per cent or US$0.29 at US$3.45. The biggest loser was ST Engineering , which dropped 2.1 per cent or S$0.18 to S$8.27. Across the region, major indices ended higher, with the Kospi gaining 0.4 per cent and the Nikkei 225 up 3.5 cent. Hong Kong's Hang Seng Index closed up 1.6 per cent and the KLCI rose 0.7 per cent. The fading momentum of tech stocks is starting to weigh on major US benchmarks, said Jose Torres, senior economist at Interactive Brokers. But the wider US market remains positive, as every other major sector was still upbeat during a quiet day for economic releases. Overreliance on the 'Magnificent 7' – comprising Apple, Alphabet, Microsoft, Amazon, Tesla, Meta and Nvidia – is contributing to the market turning defensive, picking up Treasuries, gold and volatility protection instruments, said Torres. With tech and communications services' rally bolstered by looser regulations, financial services could see the same impact as efforts are made to loosen regulations,' he added. 'While less red tape is poised to improve profitability at banks, the lending and capital expenditure implications of reducing regulations are also quite stimulative to the economy because additional funds are opened up for consumption, investment and fixed income purchasing,' said Torres.
Straits Times
23-07-2025
- Business
- Straits Times
STI inches up on July 23, mirroring regional indexes
Find out what's new on ST website and app. Gainers were far in the ascendancy, trouncing losers 427 to 164 on robust trade of 2.4 billion shares worth $1.7 billion. SINGAPORE – News of more deals between the US and its trading partners gave sharemarkets here and across the region a shot of adrenaline on July 23. While much of the detail remains to be seen, the agreements struck with the Philippines and Indonesia did spur local investors to push the Straits Times Index (STI) up 0.6 per cent or 23.02 points to 4,231.28. Gainers were far in the ascendancy, trouncing losers 427 to 164 on robust trade of 2.4 billion shares worth $1.7 billion. Key regional markets were in the same mood: The Kospi in Seoul gained 0.4 per cent; Japan's Nikkei 225 surged 3.5 cent on news that a similar trade pact was in the offing; and Hong Kong's Hang Seng closed up 1.6 per cent. Australian stocks rose 0.7 per cent on the back of the trade deals, the same rise recorded by Malaysian shares. The regional gains followed a mixed session on Wall Street overnight, despite assurances that Federal Reserve chair Jerome Powell could finish out his term if he wishes. The S&P 500 rose 0.1 per cent to another record high, the Dow Jones Industrials added 0.4 per cent while the Nasdaq slipped 0.4 per cent from its Monday record as doubts creep in to the tech sector. Top stories Swipe. Select. Stay informed. Singapore Singapore's domestic recycling rate drops to all-time low of 11% Singapore Sota parent portal taken down for urgent patching following global cyberattack alerts Singapore HDB launches 10,209 BTO and balance flats, as priority scheme for singles kicks in Singapore Five teens arrested for threatening boy with knife, 2 charged with causing hurt Singapore Local buyers are key to recovery of prime district condo market Singapore Ex-Tanjong Pagar United footballer charged with assault after Singapore Premier League match in Feb Singapore COE prices for cars mostly unchanged; premium for commercial vehicles up 2.9% Singapore Cyclist charged after allegedly hitting elderly pedestrian, killing him Interactive Brokers senior economist Jose Torres noted that the fading momentum of tech stocks is starting to weigh on US benchmarks, but the wider American market remains positive. He added that the over-reliance on the Magnificent Seven tech firms – Apple, Alphabet, Microsoft, Amazon, Tesla, Meta and Nvidia – is contributing to the market turning defensive. Meanwhile, DFI Retail Group was the STI's top gainer, adding 9.2 per cent to US$3.45, while ST Engineering led the losers, down 2.1 per cent to $8.27.
Business Times
23-07-2025
- Business
- Business Times
STI inches up on Wednesday, mirroring regional indices
[SINGAPORE] The Straits Times Index (STI) closed higher on Wednesday (Jul 23), mirroring regional indices. The STI inched up 0.6 per cent or 23.02 points to 4,231.28. Across the broader market, advancers outnumbered decliners 427 to 164 after 2.4 billion shares worth S$1.7 billion changed hands. The trio of local banks closed higher on Wednesday, with DBS up 1.9 per cent or S$0.88 at S$48.13. UOB rose 0.6 per cent or S$0.23 to S$37.23 and OCBC closed up 0.1 per cent or S$0.02 at S$17.21. DFI Retail Group was the top gainer on the STI, closing up 9.2 per cent or US$0.29 at US$3.45. The biggest loser was ST Engineering , which dropped 2.1 per cent or S$0.18 to S$8.27. 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 higher, with the Kospi gaining 0.4 per cent and the Nikkei 225 up 3.5 cent. Hong Kong's Hang Seng Index closed up 1.6 per cent and the KLCI rose 0.7 per cent. The fading momentum of tech stocks is starting to weigh on major US benchmarks, said Jose Torres, senior economist at Interactive Brokers. But the wider US market remains positive, as every other major sector was still upbeat during a quiet day for economic releases. The overreliance on the 'Magnificent 7' – comprising Apple, Alphabet, Microsoft, Amazon, Tesla, Meta and Nvidia – is contributing to the market turning defensive, picking up treasuries, gold and volatility protection instruments, said Torres. With and tech and communications services' rally bolstered by looser regulations, financial services could see the same impact as efforts are made to loosen regulations. 'While less red tape is poised to improve profitability at banks, the lending and capital expenditure implications of reducing regulations are also quite stimulative to the economy because additional funds are opened up for consumption, investment and fixed income purchasing,' said Torres.
