Latest news with #OCBC
Business Times
6 hours ago
- Business
- Business Times
Singapore shares continue to rise, tracking regional indices; STI up 1%
[SINGAPORE] The Straits Times Index (STI) closed higher on Thursday (Jul 24), tracking regional indices. The STI ended 1 per cent or 41.77 points up at 4,273.05. Across the broader market, advancers outnumbered decliners 356 to 223, after 2.4 billion shares worth S$1.9 billion changed hands. The trio of local banks continued to rise on Thursday. DBS gained 2.2 per cent or S$1.08 to close at S$49.21, UOB was up 0.3 per cent or S$0.13 at S$37.36, and OCBC advanced 0.3 per cent or S$0.06 to S$17.27. ST Engineering was the top gainer on the STI, closing up 7.1 per cent or S$0.59 at S$8.86. The biggest loser was Hongkong Land , which declined 2.2 per cent or US$0.14 to US$6.19. 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 were up, with South Korea's Kospi rising 0.2 per cent and Japan's Nikkei 225 advancing 1.6 per cent. Hong Kong's Hang Seng Index ended 0.5 per cent higher, and Malaysia's KLCI gained 0.7 per cent. Traders are riding on the optimism that the worst-case tariff scenarios may have been priced too pessimistically, said Stephen Innes, managing partner, SPI Asset Management. The trade deal announced between the US and Japan on Wednesday cut tariffs on Japanese imports to 15 per cent, rather than the 25 per cent that US President Donald Trump had earlier threatened. This is said to have provided a lifeline for global risk appetite. The rumours that the US-European Union accord could mirror the same 15 per cent figure have given stocks wind beneath their wings, added Innes. 'The tariff average settling at 15 per cent – if achieved – would be seen as damage control rather than destruction. Markets, ever forward-looking, are repositioning for a softer landing,' he noted.
Business Times
13 hours ago
- Business
- Business Times
Thai baht rises to highest since 2022 on trade optimism, inflows
[SINGAPORE] Thailand's baht rose to the highest in more than three years on growing optimism over trade negotiations, the return of foreign stock inflows, and near-record high gold prices. The local currency strengthened 0.1 per cent to 32.12 per US dollar on Thursday (Jul 24), the strongest since February 2022. Finance Minister Pichai Chunhavajira said on Tuesday the nation is close to an agreement with the US to lower a threatened 36 per cent tariff on its goods ahead of the Aug 1 deadline, and expects a rate closer in line with regional neighbours. The baht has gained almost 7 per cent this year, putting pressure on authorities to curb its strength to protect the nation's economic drivers of tourism and exports. 'Bank of Thailand will continue to watch for any excessive volatility,' said Christopher Wong, senior foreign-exchange strategist at OCBC in Singapore. A break of the resistance level at 32 to 32.1 baht per US dollar may add more tailwind to the currency, he said. Thailand's foreign-exchange reserves climbed to a record US$263 billion earlier in July, partly as officials stepped up their intervention to slow the baht's appreciation. Easing tensions between two of Thailand's largest trade partners, the US and China, are also soothing investor worries. Global funds have poured a net US$345 million into Thai equities in July, on track for the first monthly inflow in 10 months. 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 On Wednesday alone, global funds poured in US$139 million into stocks, the largest single-day inflow in 10 months. The baht is also underpinned by near-record high gold prices, given the country's status as a major trading hub for the precious metal in Asia. Asian currencies Asian currencies have rallied this year as the US dollar weakened on concerns over the impact of US President Donald Trump's tariffs on the US economy. The Bloomberg Asia Dollar Index surged 7 per cent in 2025. In Thailand, the rebound in the baht is adding to concerns over the nation's economic growth, prompting some ministers and business groups to call for the central bank to weaken the currency. Tourism is faltering with the Tourism Authority of Thailand lowering its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million. BLOOMBERG
Business Times
a day ago
- 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.
The Sun
a day ago
- Business
- The Sun
OCBC Hong Kong Unveils New Brand Campaign
Connected to 'As One Group, OCBC Enables Aspiration All Across ASEAN and Greater China' Demonstrating the Unwavering Commitment in Realising Customer's Aspirations HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - OCBC Bank (Hong Kong) Limited ('OCBC Hong Kong') remains committed to supporting both businesses and individuals with comprehensive banking solutions. Over the years, the Bank has stood alongside countless enterprises and generations of Hong Kong people, helping them grow and thrive. Starting this month, OCBC is proudly launching a new brand campaign in key markets including Singapore, Hong Kong, Indonesia, and Malaysia. In Hong Kong, the Bank is featuring Ms Ho Yuen Kei, world champion and gold medalist in the Women's Individual BC3 Boccia event, in the brand campaign. Her inspiring journey of resilience and determination in overcoming adversity to pursue her aspiration embodies the Bank's commitment to uplifting individuals and communities in realising their aspirations. In the campaign, Yuen Kei shares: 'I need to fill my glass with water before I can pour for others'. Her words deeply resonate with OCBC Group's purpose — to enable people and communities to realise their aspirations — and serve as a compelling reminder for everyone to take the first step toward their aspirations. In order to deepen the interaction between the public and customers with the brand, thereby driving the realisation of aspirations, starting today, OCBC Hong Kong is launching the 'Aspiration Leave' themed initiative on its official Instagram account @ocbc_hk. Participants who share their aspirations and plans for achieving them will have the chance to win exciting rewards. In addition, OCBC Hong Kong recently partnered with selected local SMEs* to launch a collaborative initiative that encourages employees to take 'Aspiration Leave' — empowering them to pursue personal aspirations and give greater meaning to their time. Participating SMEs receive funding and promotional opportunity from OCBC Hong Kong, while also fostering stronger communication and team spirit, contributing to a more positive and engaged workplace culture. The initiative attracted over a hundred employee applications within a short period, their aspiration stories will be shared on OCBC Hong Kong's social media channels, continuing to ignite motivation across the city. Mr Wang Ke, CEO of OCBC Hong Kong, said: 'Starting this month, OCBC Group is launching a new brand campaign across key markets, centered on the theme 'Purpose is about lifting others'. This embodies our 'One Group' commitment to help customers realise their aspirations. In Hong Kong, we feature a story that reflects the city's resilient spirit and the pursuit of aspirations amid adversity. Through this campaign, we aim to inspire individuals not only to pursue their own aspiration but also to uplift those around them. We are engaging the broader community and strengthening our support for SMEs via this initiative. As a vital pillar of Hong Kong's economy, SMEs are driven by passionate individuals who strive to make meaningful contributions to society. OCBC Hong Kong is proud to stand alongside them and support them in their journey toward realising their aspirations.' *SMEs that participate the 'Aspiration Leave' Initiative: Admazes Limited Bergner (HK) Limited Brand Meditech (Asia) Company Limited Grandasy Engineering Co Ltd HobbyDigi Limited Kooly Shop Limited Lou Pichoun Mak's Noodle Maple Bear Canadian International Kindergarten Hong Kong U Park Limited
Business Times
a day ago
- 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.
