SINGAPORE BANKING STOCKS
D Street lights up, ends Diwali week with a firecracker of a Friday
Indian stocks witnessed impressive growth, with the Sensex and Nifty surging over 2%, defying declines in Asian markets. This robust rally is fueled by strong corporate earnings coupled with declining crude oil prices, boosting investor morale significantly. Over the recent weeks, foreign portfolio investors have surpassed net purchases of $4 billion, enhancing the positive outlook.
Rupee finds its footing as oil worries cool, traders watch flow momentum
The Indian rupee climbed to its highest value in two weeks, following a notable fall in oil prices. This uplifting trend was mirrored by a stark rise in Indian stock markets and a reduction in bond yields. Recently, foreign investments poured into Indian equities, showcasing hefty net purchases. Analysts emphasize that ongoing investment inflows are crucial for bolstering the rupee further, as market sentiment improves amid reduced energy cost pressures.
DBS Group Q3 net profit falls 5% to S$2.81 billion, misses estimates
DBS Group reported a 5% year-on-year decline in third-quarter net profit to S$2.81 billion, missing analyst estimates due to weaker market trading income. The bank also announced dividends and a leadership transition, with Anthony Lim set to become chairman in January 2027.
Issue for foreigners is they don't pay taxes elsewhere: Samir Arora, founder and Group CIO of Helios Capital
Samir Arora from Helios Capital discusses India's optimistic earnings forecast, suggesting a growth of 14-15%. Despite this, foreign investors remain wary due to uncertainties surrounding the capital gains tax regime, impacting their sentiment towards investment. He draws an analogy between the current AI investment frenzy and historical market trends, emphasizing that substantial corporate investments are persisting even amidst falling valuations.
Why Walmart would rather keep Flipkart private, for now
Over the past few weeks, much has been written about former employees of the online commerce company writing to Walmart's board, asking for liquidity on the stock options they were granted 10 to 15 years ago. On October 1, at least eight former senior executives, among them former Myntra CEO Mukesh Bansal and former chief business officer Ankit Nagori, wrote to Walmart chairman Gregory Penner, other board members and Flipkart Group CEO Kalyan Krishnamurthy, seeking a complete exit for all former employees holding vested options.
India’s business owners need to match the global ambitions of Korean and Chinese peers: Gautam Kumra, Chairman of McKinsey's offices in Asia
McKinsey Asia chairman Gautam Kumra discusses why owner-led businesses have outperformed professionally managed and state-owned peers, accounting for $7 trillion of the $14 trillion in market value created by Asia’s top 300 companies over 25 years. He explains the leadership traits that distinguish founders, succession challenges, AI adoption and why Indian businesses must look beyond domestic markets to build global franchises.
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Global Market Today: Asian stocks slide after US tech rout
MSCI Inc.’s regional equities benchmark slipped 0.3%, declining for a second day, leaving the gauge hovering around levels last seen in July. Taiwan’s stock exchange will be shut Friday due to a typhoon. Sentiment stayed weak as contracts for the Nasdaq 100 Index fell 0.3% in early Asian trading.
I-T likely to send notices over undisclosed foreign property
The Income-Tax Department will send notices to resident Indians regarding undisclosed foreign properties. Information was obtained through spontaneous exchanges and prior investigations into overseas assets. The FAST-DS scheme allows individuals to voluntarily disclose properties without facing penalties or prosecution. This opportunity aims to regularize the foreign assets of small taxpayers effectively. Overall participation in the scheme has been lower than anticipated due to its limitations.
AI debutant’s flameout stokes fears boom is ending
Elice, a data center and AI developer, faced a significant decline in its stock price during its debut. This situation exemplifies a broader trend where investors are increasingly skeptical about AI valuations and prospects. Several companies, including CoreWeave and Firmus Grid, have also encountered investor pushback regarding their financial outlooks. Rising borrowing costs are contributing to these concerns, impacting the performance of tech stocks, including semiconductors.
Jio Platforms' IPO draws Rs 2.5 lakh crore in anchor bids
Global investors included BlackRock Global Funds, Capital Group, Fidelity, New World Fund and American Funds Developing World Growth and Income Fund. Other overseas participants included Abu Dhabi Investment Authority (ADIA), Janus Henderson, Societe Generale, Morgan Stanley Investment Funds, Norway's Government Pension Fund Global, Citadel Securities Singapore, Eastspring Investments, T. Rowe Price, Prudential Hong Kong and Integrated Core Strategies (Asia).
Oil Price Today (October 19): Crude oil dips 2% to $108 after hitting its highest levels since May. Here’s why
Brent crude futures dropped $1.80, or 1.64%, to $108.06 a barrel after settling at their highest level since May 19 on Friday. US West Texas Intermediate crude declined 53 cents, or 0.52%, to $100.88 a barrel.
Global investors against use of judicial anti-avoidance rule by tax officials
International investors have raised concerns regarding the Indian Income-tax authorities' invocation of the judicial anti-avoidance rule. At a recent meeting, investors communicated their issues with the Central Board of Direct Taxes on this matter. The use of JAAR to deny relief on grandfathered shares contradicts prior regulations established by the CBDT. The standing of both GAAR and JAAR remains complex due to Supreme Court rulings.
FMCG stocks lost their tag of defensive stocks, will they get it back? 7 FMCG stocks with an upside potential of up to 32%
Those who have been following the market for long know this: When there is nervousness on the street, money instinctively moves towards a particular sector. That is the one with companies that sell soaps, biscuits, tea – all the everyday things that people buy whether the news is good or bad. Yes, we are talking about the FMCG sector.
Axis Bank appoints former HDFC Bank veteran Rahul Shukla to head Commercial, Bharat Banking
Axis Bank has appointed Rahul Shukla as the group head of Commercial and Bharat Banking, effective October 19. He brings over three decades of banking experience, previously working at HDFC Bank and Citibank. Shukla's role will focus on accelerating growth and customer relationships in rural and semi-urban markets.
Market selloff, rising rates test AI data centre deal boom
A market selloff is forcing companies driving the global AI boom to delay fundraising plans or pay more for capital as investors demand proof they can absorb rising interest rates and computing-power costs.
Want an early signal on the economy and stocks this festive season? Watch 19 stocks, and what their managements say in the next 20 days
There is a set of companies that sees the shape of the economy before economists do. They know when a household decides to spend or hold back; to buy better things or cheaper ones. This festive season, what these companies sell, and what they say about it afterwards, will tell you more about where consumption is headed than any official number. Watch them closely. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Global Market: AI trade faces biggest test yet as chip stocks tumble across Asia
Asian AI stocks tumbled as rising bond yields, higher financing costs, and concerns over excessive infrastructure spending weakened investor confidence. South Korea’s Kospi and Japan’s chipmakers suffered sharp losses, while AI-related funding faced tougher scrutiny. Investors increasingly demand sustainable revenues and profits, questioning whether massive AI investments will deliver expected returns.
Bandhan Bank shares jump 7% as Abu Dhabi’s IHC explores stake in promoter Bandhan Financial Services
Bandhan Bank shares jumped nearly 7% after reports that Abu Dhabi-based IHC was in early-stage discussions to acquire a promoter stake in Bandhan Financial Services, potentially giving existing investors an exit opportunity.
IHC, First Abu Dhabi eye stake in Bandhan Bank promoter
Early investors GIC & IFC jointly hold 30% in Bandhan Financial Services (BFSL), keen to exit. PE funds tapped too to gauge strategic interest. BFSL, led by Bandhan founder Chandra Shekhar Ghosh, has been working with advisers Jefferies to find strategic investors for 25-32%.
Policymakers take on energy shock, rising debt at IMF-World Bank meetings
Finance ministers and central bankers will meet in Bangkok to discuss challenges affecting the global economy this week. The key concerns include the economic fallout from the US-Iran war and rising inflation. Policymakers face difficult choices regarding spending and support for vulnerable populations amid growing financial pressures. Investment in artificial intelligence presents new opportunities and challenges, especially for developing nations. The meetings will shape responses to these ongoing global issues.
Once-hot AI trade leaves Korean stocks struggling for buyers
South Korea's stock market is facing a significant downturn after a dominant run in the global AI sector, as the Kospi has dropped 22% since its peak, marking it as the worst performer in the second half of the year. A startling 70% decline in turnover has prompted withdrawals from both foreign and local investors.
Rates, inflation and AI emerge as key risks for global growth: Deutsche Bank Survey
Rising interest rates and bond yields are the biggest growth risks for wealthy investors, while Asia is seen as the most stable geopolitical region and the US remains the preferred destination for capital allocation.
China’s loss could be India’s gain as Japan Inc sours on China
Japanese companies are reducing their presence in China due to rising competition and geopolitical tensions. They are now considering investment opportunities in India, which offers a large domestic market. Japanese financial institutions are also expanding their operations in India and viewing it as a promising destination. While Japan is diversifying its investments, it is still maintaining significant ties with China.
Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say
Firmus, the Australian data centre operator, is gearing up for a noteworthy initial public offering worth $5.5 billion. In a strategic move, the company plans to distribute half of this capital to selected existing investors. Expected to commence trading on the Australian Securities Exchange on October 23, shares will be priced at A$11.
FOREX-Euro slides to 17-month low, hit by rates and inflation cocktail
As political instabilities linger, the euro has descended to its lowest point in over 17 months when measured against the dollar. This shift has prompted investors to favor the dollar, which is showing strength across various currencies. Meanwhile, the Australian dollar has reached a two-month low due to disappointing local inflation forecasts. European markets, burdened by surging oil prices and escalating inflation, are facing a formidable set of economic hurdles.
Global Markets: Tech stocks gain on Anthropic IPO optimism, offsetting high oil, yields
Sovereign yields are an anchor for global markets, a reference price for investing in riskier stocks and a benchmark for mortgages and corporate borrowing. Higher rates pile pressure on government, corporate and household budgets.
New indicator for New India: 25 stocks whose numbers can reveal what is in store for the economy and the stock market
For decades, there was a familiar way to understand the Indian consumer. Economists waited for GDP, industrial production, inflation, credit growth and other official numbers, and then used them to work out whether households were spending more or pulling back. Those indicators still matter. But the Indian consumer has changed faster than the dashboard used to track consumption and spending patterns. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Snapdeal parent AceVector’s IPO opens for subscription: Key things to know
The AceVector IPO will remain open for subscription until September 29. The companyraised Rs 189 crorefrom anchor investors on September 24. Domestic investors, including Helios Mutual Fund, Singularity Growth and Alchemy Capital, participated in the round.
NSE to debut in test of India investor faith in long-term growth
The National Stock Exchange of India Ltd. is set to launch its trading journey following a successful IPO that raised $2.4 billion. Despite robust interest from institutional investors, retail participation has been less enthusiastic. Concerns over the exchange's valuation have left smaller investors feeling uneasy. Major institutional players are betting on NSE's ability to manage impending regulatory hurdles, while its stock's future movements will likely rely on forthcoming market supply.
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