3 hours ago
Malaysian sovereign wealth fund aims to boost portfolio resilience in volatile market
Malaysian sovereign wealth fund Khazana Nacional is rebalancing its investment portfolio to make it more resilient to market volatility, a managing director said.
According to the fund, Khazana’s net asset value in 2022 fell by 5% to 81 billion ringgit ($17.4 billion), affected by the global market downturn. said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in the public markets.
Read the full article here.
— Clement Tan
2 hours ago
JPY hits 7-month low against US dollar despite verbal warnings
The Japanese yen traded at its lowest level in seven months, even as Japan’s finance minister warned that the government would respond if the currency surged. depreciate too much.
The yen is trading near 143 yen to the dollar, the lowest since November 11, when it fell to 146.2 yen.
This is similarly worded warning From Masato Kanda, State Minister of International Finance on Monday.
Last year, Japan’s Ministry of Finance intervened About $68 billion was injected to support the yen exchange rate over the three days of September 22, October 21 and October 24. This was because the currency hit $150 against the dollar, depreciating the yen to levels not seen since 1990.
The policy divergence between the Bank of Japan’s ultra-loose monetary policy and the US Federal Reserve’s aggressive stance on inflation is causing the dollar to strengthen.
— Clement Tan
3 hours ago
Mongolian PM’s visit to China was ‘very important’ for trade and cooperation, Mongolian minister says
Mongolia’s Deputy Minister of Economic Development Tubdendrj Gantumur said Mongolia is looking to diversify its economy and is looking to China to export agricultural products and invest in the mining sector.
6 hours ago
Singapore-listed Yangtze Shipbuilding shares rise nearly 7% after winning Maersk contract
Shares of Singapore-listed Yangtze Shipbuilding surged more than 6% on Tuesday after the company announced it had won a contract to build six methanol dual-fuel containerships from shipping company Maersk.
Each of these ships has a capacity of 9,000 20-foot equivalent units. The contract with Maersk marks the company’s first order for methanol dual-fuel containerships.
The six secured vessels will be built entirely in-house and will be delivered between 2026 and 2027.
7 hours ago
CNBC Pro: Fund manager says buy this set of stocks to fill ‘huge skills gap’ in aging America
For Dani Saurimper, there is one stock that “is most relatable.” His fund invests in a number of sectors catering to an aging society.
“It’s not necessarily the biggest holding in the portfolio, but it’s the stock that resonates most with me in terms of themes of social change and demographic change, and it’s coming back to the industry and people. ’” Sourimper told CNBC ProTalk last week.
CNBC Pro subscribers can read more here.
— Tan Weizhen
7 hours ago
CNBC Pro: Big Tech fund manager reveals how to manage valuations and which stocks to buy
Patrick Armstrong, chief investment officer at Purulimi Wealth, said the nearly 15% rise in the S&P 500 index, driven by the tech sector, may be overkill.
But fund managers haven’t sold their big tech positions.
Armstrong, who manages Plurimi AI Global Equity Strategy, laid out how he trades huge valuations and specified which stocks to buy. He also predicted what the tech sector might trade in the next six months if a recession hits.
CNBC Pro subscribers can read more here.
— Ganesh Rao
12 hours ago
Nasdaq drops nearly 1.2% at the beginning of the week
Stocks ended lower on Monday, kicking off the final trading week of the second quarter and first half of the year.
The Nasdaq Composite Index fell 1.16% to close at 13,335.78, while the S&P 500 Index fell 0.45% to close at 4,328.82. The Dow Jones Industrial Average dropped 12.72 points (0.04%) to close at 33,714.71.
— Samantha Soobin
15 hours ago
Tech giants put pressure on Nasdaq Composite
16 hours ago
Berkshire continues to cut stake in Chinese electric car maker BYD
20 hours ago
Oil prices stable after Russian uprising ends
Oil prices were up early on Monday as an attempted rebellion in Russia, one of the world’s biggest oil producers, could disrupt energy supplies and investors look to see if there will be more fallout. The rate of increase was suppressed and stabilized.
West Texas Intermediate futures initially rose 1.3% early Monday to just under $70 a barrel before falling about 4% last week before ending up about 0.61% at $69.58. rice field. Brent crude was trading about 0.66% higher at $74.35.
— Clement Tan, Sara Min
