Market Update

What happened in markets this week, and what are analysts talking about? iFast To recap, iFast reported its results in April with a record net profit of S$8.8m in 1Q (2.5x from a year ago); on the back of a 51.4% rise in revenue. Assets under admin (AUA) also grew to a new record of […]

What happened? Meituan’s share price dropped as much as 9.8% on Monday after its CEO’s social media post over the weekend sparked concerns that Meituan may face more regulatory crackdown. Meituan CEO cited a poem about burning books during the Qin dynasty in a social media post which sparked speculation that he was complaining about […]

What happened in markets this week, and what are analysts talking about? MC Payment RHB issued its Top 20 small-cap jewels for 2021, and MC Payment was part of this year’s series. • RHB; Shekhar Jaiswal: MC Payment is the first SGX-listed proxy to growth in the ASEAN digital payments industry, providing an integrated digital payment […]

What happened? Ethereum, the second-largest cryptocurrency after Bitcoin, has been stealing the limelight of late. Prices broke above $3,000 to set a new record high, after rising more than 300% year to date. Year to date market capitalization of Ethereum (USD) Source: Coinmarketcap Why did it happen? According to some crypto experts, they believe this […]

What happened in markets this week, and what are analysts talking about? Meituan The Chinese State Administration for Market Regulation has launched investigations on Meituan over alleged monopolistic behaviors. Meituan has previously been criticized by rivals and merchants for their alleged excesses such as forced exclusive arrangements and had previously also been found guilty of […]

What happened? US stocks dropped briefly last week after news broke that US President Joe Biden is looking to almost double capital gains tax rate for the rich (those earning $1 million or more) to 39.6% from the current base rate of 20%. The increase would equalize the tax rate between wage and capital gains […]

What happened in markets this week, and what are analysts talking about? Sembcorp Industries • Credit Suisse: Initiate coverage on SCI with an OUTPERFORM rating and TP of S$2.40, based on Sum of the parts valuation implying ~1.2x FY21F P/B. SCI is shifting to renewables as it looks to grow its renewables capacity to 4,000MW […]

What happened? Bitcoin saw a massive sell-down over the weekend, plunging more than 12% – the biggest intraday drop since February 2021. While Bitcoin crawled back part of its losses, the cryptocurrency was still down more than 10% from its high of nearly US$65,000, at about US$57,000 as at time of writing. At one point, […]