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South Korea shares fall at the close as political tensions continue; Asia markets mixed; Australia’s economic growth stays tepid in challenge for Reserve Bank of Australia; ExxonMobil considering sale of Singapore petrol stations for US$1 billion.Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.Written and hosted by: Emily Liu ([email protected])Recording engineer: Chai Pei ChiehProduced and edited by: Claressa MonteiroProduced by: BT Podcasts, The Business Times, SPH MediaBT in your inboxStart and end each day with the latest news stories and analyses delivered…

Thailand’s economy is expected to grow 2.8 per cent this year, the top end of a previous forecast range of 2.6 per cent to 2.8 per cent, helped by stronger exports and government spending, a leading joint business group said on Wednesday (Dec 4).Exports, a key driver of growth, are now projected to rise 4 per cent this year, up from a range of 2.5 per cent to 2.9 per cent growth seen previously, said the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from those sectors.The baht at around 34 per dollar is supporting shipments, Sanan…

Mathews said the situation could have been “much worse” had the president not aborted his plan. “Investors now ‘only’ have to worry about a period of significant political uncertainty,” he said. The South Korean finance ministry and central bank looked to provide stability and reassure markets. “As announced together with the government, it has been decided to temporarily supply sufficient liquidity until the financial and foreign exchange markets stabilise,” the Bank of Korea said. It added that “the range of securities eligible for (repo) transactions and the target institutions will be expanded”. Deputy Prime Minister Choi Sang-mok, who also holds…

Bank is targeting US$200 billion in new assets and double-digit income growth in its wealth business over the next five yearsSINGAPORE and Hong Kong will continue to make up half of Standard Chartered’s affluent business, as the bank embarks on “ambitious” plans to expand the franchise, said Judy Hsu, chief executive of wealth and retail banking at StanChart.Singapore currently accounts for around 20 per cent of the affluent business, while Hong Kong contributes around 30 per cent. The growth of the two markets will likely remain in proportion, given the size of the respective markets, Hsu said in a media…

It is targeting US$200 billion in new assets and double-digit income growth in its wealth business over the next five yearsSINGAPORE and Hong Kong will continue to make up half of Standard Chartered’s affluent business, as the bank embarks on “ambitious” plans to expand the franchise, said Judy Hsu, chief executive of wealth and retail banking at StanChart.Singapore currently accounts for around 20 per cent of the affluent business, while Hong Kong contributes around 30 per cent. The growth of the two markets will likely remain in proportion, given the size of the respective markets, Hsu said in a media…

HSBC Asset Management has unveiled an ESG equivalent of its $13bn global aggregate bond ETF – technically Europe’s largest fixed income ETF by assets under management (AUM). Only unlisted share classes of the HSBC Global Aggregate Bond ESG UCITS ETF are available initially, with the firm stating a listed share class will begin trading on the London Stock Exchange (LSE) in the “coming weeks”.The ETF tracks the Bloomberg MSCI Global Aggregate SRI Carbon ESG-Weighted Select index, which aims to generate reduced emissions as well as an ESG rating improvement versus its parent index, the Bloomberg Global Aggregate index.The product is…

Bitcoin price hovers around $95,700 on Wednesday; technical indicators show weakness. Ethereum finds support around the weekly level of $3,454, indicating a rally towards $4,000. Ripple price hovers above the $2.55 level after rallying more than 10% so far this week. Bitcoin (BTC) hovers near $95,700 on Wednesday, signaling potential weakness as technical indicators suggest a decline, while Ethereum (ETH) and Ripple (XRP) stabilize near key levels, hinting at a possible rally following South Korea’s reversal of martial law. Bitcoin bulls show signs of relenting Bitcoin price began the week with a 1.38% decline, hitting a low of $93,578 on…

Ninja Van, a leading tech-enabled express logistics organisation, has adopted Workday Adaptive Planning to centralise its finance and operations data while accelerating its budgeting processes. This move aligns with the former’s expansion in South-East Asia and the launch of new services, including B2B restocking and cold chain delivery. Founded in 2014 with just one delivery van, Ninja Van has grown to become a regional powerhouse, operating in six South-East Asian markets and delivering around two million packages daily. The organisation now employs over 50,000 individuals, including delivery personnel. However, as the business scaled, managing financial planning manually using spreadsheets became…

Cryptocurrencies representing a euthanised grey squirrel, a Thai pygmy hippopotamus and a cartoon dog have exploded in value since last month’s US presidential election, as Donald Trump’s victory triggers a surge in speculation in so-called memecoins.The market for tokens representing online viral moments has expanded rapidly since early November as traders bet that Trump’s administration will usher in more crypto-friendly attitudes and regulation in Washington.More established memecoins such as Dogecoin have outperformed bitcoin, the world’s biggest cryptocurrency, over the past month and have been joined by a plethora of new coins that have been launched in the days following Trump’s…

Free NewsletterGet the hottest Fintech Singapore News once a month in your InboxCambodia has intensified its regulatory measures against unlicensed online activities by blocking 102 websites, including 16 crypto exchange platforms such as Binance and Coinbase, Coinspeaker reports.The Telecommunication Regulator of Cambodia (TRC) implemented this action due to the platforms’ lack of necessary licensing from the Securities and Exchange Regulator of Cambodia (SERC).While these websites are now inaccessible within the country, their mobile apps remain operational, highlighting the complexities regulators face in controlling access to digital platforms.The primary focus of this crackdown was on websites associated with online gambling.However, the…