Posts by Liam Redmond
China’s private refiners seek Beijing approval to cut run rates as Iran war hits margins
Published Mon, May 11, 2026 · 02:53 PM [BEIJING] China’s private refiners have sought government approval to cut oil-processing rates, a month after Beijing ordered them to produce at any cost in order to secure domestic fuel availability. The processors – working through local authorities – have asked Beijing for permission to cut back as…
Read MoreBYD sees annual sales rise despite tepid market, says JPMorgan
The automaker now expects domestic sales to reach between 3.5 million and four million units this year Published Mon, May 11, 2026 · 02:13 PM [HONG KONG] BYD is projecting an increase in annual sales, fuelled by a more optimistic domestic outlook and an aggressive global expansion that aims to defy cooling demand in the…
Read MoreUS industry, lawmakers plead with Trump: Don’t open door to Chinese cars at Xi summit
The House bill would go further, banning industry partnerships with Chinese companies [WASHINGTON] As US President Donald Trump prepares to meet with Chinese President Xi Jinping this week, the US auto industry and lawmakers on both sides of the aisle are hammering him with a simple message: Please do not offer China any access to…
Read MoreGoldman Sachs claims renminbi undervalued by 20% against US dollar
Published Mon, May 11, 2026 · 12:16 PM [HONG KONG] The Chinese currency is more than 20 per cent undervalued against the US dollar, according to Goldman Sachs Group, which expects the currency to keep strengthening over the coming year. The renminbi remains well below levels justified by China’s export strength and external surplus, strategists…
Read MoreSouth Korean shares hit all-time high on AI-led chipmaker rally
JPMorgan Chase has raised its targets for the country stocks for the second time in less than a month Published Mon, May 11, 2026 · 11:40 AM [SEOUL] South Korean shares hit record highs on Monday (May 11), as chipmakers extended gains amid optimism over artificial intelligence, bolstered by a rally in US peers and…
Read MoreAI growth pushes Alphabet closer to overtaking Nvidia as world’s biggest company
Nvidia may be the leader in building AI chips, but Google’s parent has a rival product that’s gaining favour Published Mon, May 11, 2026 · 10:22 AM [CHICAGO] Over the past year, Alphabet has gone from an artificial intelligence afterthought to the one firm in the market with dominant positions in nearly every aspect of…
Read MoreHong Kong’s bad-debt bankers ramp up fire sales, liquidations
At least half a dozen lenders have increased their number of special asset bankers [HONG KONG] A small group of bankers in Hong Kong tasked with cleaning up the city’s unprecedented pile of bad debt is done playing nice. They number under 200 people, less than 0.07 per cent of the city’s finance workforce. But…
Read MoreStocks to watch: SBS Transit, Riverstone, Geo Energy Resources, Jumbo Group, NoonTalk Media
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (May 11): SBS Transit : The transport operator on Friday posted a 2.2 per cent decline in Q1 net profit to S$15.6 million, from S$15.9 million in the same year-ago period on the back of lower interest income. Revenue…
Read MoreThese stocks rerated after strategic moves. Can they inspire others to do the same?
Firms that have done so show proactive management works, giving hope that others, too, can chart a path to better valuations [SINGAPORE] For years, Lum Chang Holdings – which listed on the Singapore Exchange (SGX) in 1984 – was viewed by the market as a heavy-set construction player, keeping its valuation firmly suppressed. But, last…
Read MoreMomentum-obsessed traders seek clues on Iran truce
Barclays strategists say the trade has reached extremes that historically foreshadowed sell-offs Published Mon, May 11, 2026 · 06:17 AM [LONDON/SINGAPORE] Investors riding a scorching run of market momentum are likely to face a reality check when trading resumes on Sunday (May 10) night New York time after US President Donald Trump rejected the latest…
Read MoreJumbo H1 profit falls 22.3% to S$6.2m on higher operating costs; revenue up 7.9%
[SINGAPORE] Jumbo Group posted a 22.3 per cent drop in net profit to S$6.2 million for its first half ended Mar 31, 2026, from S$7.9 million in the previous corresponding period. In an update released on Friday (May 8), it attributed this to higher operating expenses, including employee benefits, operating leases, and utilities. The Catalist-listed…
Read MoreRiverstone Q1 profit falls 27.1% to RM41.1 million on a stronger ringgit
Revenue for the first quarter is down 15.1% at RM214.3 million despite steady sales volumes [SINGAPORE] Glove manufacturer Riverstone Holdings posted a 27.1 per cent drop in net profit to RM41.1 million (S$13.3 million) for its first quarter ended Mar 31, 2026, from RM56.4 million in the previous corresponding period. In an update released on…
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