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Tag: trading

  • Apple CEO Tim Cook reveals what Apple needs to build iPhone in the US

    Apple CEO Tim Cook reveals what Apple needs to build iPhone in the US

    While the tariff fiasco has brought red ink to the markets and chaos to the global economy, the ultimate goal according to President Donald Trump and his supporters, is to have manufacturing brought back to the United States. According to Trump’s Commerce Secretary Howard Lutnick, who was appearing on CNBC, Apple CEO Tim Cook told him that there is a “key catalyst” that would be necessary for Apple to consider building the iPhone in the US.

    Lutnick says that he asked Cook when he was going to bring iPhone manufacturing to the States. Cook responded by saying, “I need to have the robotic arms to do it at a scale and precision that would allow me to bring it here.” Cook seems to be one of the few tech industry leaders who might not be a Trump supporter but who still commands respect from the president and vice versa.

    This relationship has helped Apple protect its most important product, the iPhone, from tariffs during both Trump terms. Recently, Trump temporarily exempted some consumer electronics including smartphones from the reciprocal tariffs that Trump imposed on US trading partners. This includes a whopping 145% tariff on products imported to the US from China which is where the majority of iPhone units are assembled.

    By using robots to do the tedious low-paying assembly jobs such as building an iPhone, Apple wouldn’t have to worry about finding Americans willing to work for the $3 to $3.70 per hour that iPhone assemblers reportedly make in Shenzhen, China. Without a robotic labor force, at the federal minimum wage of $7.25 per hour, Apple would be paying twice that amount to build the iPhone forcing it to raise the price of the device.

    By using robots to build the iPhone in the US, Apple would be able to reduce the cost to assemble the product and might even be able to cut prices for the iPhone. But Apple is still a long way from having a team of robots unplug themselves in the morning and head over to the assembly line where they silently build iPhone units. Yet, if you ask the Commerce Secretary, he’ll try to get you to believe that this technology is coming sooner than you’d think.

    Talking about the iPhone, Lutnick says about Tim Cook, “He wants to build it here, he’s going to build it here. The Commerce Secretary does agree with our position that Americans won’t work for the low wages Foxconn pays iPhone assemblers in China. He says that Americans will be running the iPhone factories in the States. “They’re not going to be the ones screwing components in.” Unfortunately, Lutnick doesn’t explain who will be.

    Cook is right and robotics can be the answer, but this is going to take time even with AI. Let me make a statement that many of you will find surprising. If the Trump administration is patient and allows time for the technology to catch up with the goal, the current administration might end up being known for helping change the world of manufacturing for the better. However, patience is not the strong suit of our president and his team.

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  • Stocks fail to sustain 2-month high

    Stocks fail to sustain 2-month high

    Vietnam’s benchmark VN-Index fell 0.09% to 1,272.87 points Thursday, after hitting a two-month peak in the previous session.

    The index closed 1.2 points lower after gaining 13.68 points in the previous session.

    Trading on the Ho Chi Minh Stock Exchange decreased dropped 27% to VND18.8 trillion (US$739 million).

    SSB of SeABank dropped 2%, followed by BVH of insurance company Bao Viet Holdings with a 1.9% decline.

    MWG of electronics retail chain Mobile World dropped 1.1% and VRE of retail real estate arm Vincom Retail closed 0.9% lower.

    Eleven blue chips gained, led by six banks.

    VIB of Vietnam International Commercial Bank posted the largest increase at 2.9%, followed by STB of Ho Chi Minh City-based lender Sacombank, up 2.3%.

    Foreign investors were net sellers to the tune of VND365 billion.

    They mainly net sold VCB of state-owned lender Vietcombank and FPT of IT giant FPT Corporation.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.04%, while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.19%.

    Asia shares eased in holiday-thinned trade on Thursday, paring some of their gains from earlier in the week, while the dollar rose alongside U.S. Treasury yields.

    As the year-end approaches, trading volumes have begun thinning out and the main focus for investors remains that of the Federal Reserve’s rate outlook. Markets in Hong Kong, Australia and New Zealand were closed for a holiday on Thursday.

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  • VN-Index tiptoes up after plunge

    VN-Index tiptoes up after plunge

    Vietnam’s benchmark VN-Index rose 0.15% to 1,179.76 points Monday.

    The index closed 1.77 points higher after losing 55.49 points on Friday.

    Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 38.49% to VND22.17 trillion ($930.73 million).

    CTG of state-owned lender VietinBank led with a 4.2% rise, followed by BID of state-owned lender BIDV, up 3.2%.

    TPB of private TPBank went up 2.2% and BCM of Becamex Investment and Industrial Development closed 2.1% higher.

    SSB of Southeast Asia Commercial Bank (SeABank) lost 3.1%, and GVR of Vietnam Rubber Group was down 2.8%.

    Foreign investors were net buyers to VND82.45 billion, mainly buying VIC of private conglomerate Vingroup and CTG of state-owned lender VietinBank.

    The HNX-Index at the Hanoi Stock Exchange, where mid and small-caps list, was up 0.85% while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.26%.

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  • How Can Malaysian Traders Boost their Trading Game

    How Can Malaysian Traders Boost their Trading Game

    For Malaysian traders looking to enhance their trading skills and performance, there are several strategies and techniques that can help boost their trading game. Adopting the right mindset, developing a solid trading plan, utilizing effective risk management strategies, and staying informed about market developments can increase the chances of success in forex trading Malaysia. This guide provides valuable insights and suggestions to help Malaysian traders elevate their trading game and achieve their goals.

    Developing a Trading Mindset

    Developing a strong trading mindset is crucial for Malaysian traders to succeed in the financial markets. Embracing discipline and patience allows traders to follow their trading plan consistently and avoid impulsive decisions driven by emotions. By managing emotions such as fear and greed, traders can make rational and objective trading choices.

    Cultivating a growth mindset is also important, as it encourages continuous learning, adaptability, and resilience. Malaysian traders should approach trading as a journey of improvement and view setbacks as opportunities for growth, enabling them to stay motivated and focused on refining their trading skills.

     

    Building a Robust Trading Plan

    A solid trading plan is a foundation for success in trading. Malaysian traders should define clear trading objectives and goals aligning with their financial aspirations. Identifying preferred trading strategies and styles helps traders focus on methods that suit their strengths and preferences.

    Setting risk tolerance and money management rules is essential for preserving capital and managing risk effectively. Establishing specific entry and exit criteria based on technical or fundamental analysis provides structure and consistency to trading decisions. A well-designed trading plan is a roadmap guiding market participants toward their trading goals.

    Mastering Technical Analysis

    Technical analysis is a key skill for Malaysian traders to make informed trading decisions. Understanding essential technical indicators and chart patterns helps identify potential trade setups and market trends. Analyzing support and resistance levels assists in determining optimal entry and exit points. Implementing trend-following and reversal strategies based on technical signals enhances trading accuracy.

    Additionally, incorporating multiple time frame analysis provides a broader perspective and improves trade timing. By mastering technical analysis, Malaysian investors can effectively analyze price charts and identify profitable trading opportunities.

    Utilizing Fundamental Analysis

    Fundamental analysis plays a vital role in trading, especially for Malaysian traders in the forex market. Staying informed about economic news and events, such as GDP reports, employment data, or central bank announcements, enables traders to assess the potential impact on currency pairs or assets.

    Monitoring central bank policies and interest rate decisions helps anticipate market reactions and adjust trading strategies accordingly. Incorporating geopolitical factors, such as trade tensions or political developments, into trading decisions provides a broader understanding of market dynamics.

    Implementing Effective Risk Management

    Effective risk management is essential for preserving capital and ensuring long-term trading success. Malaysian traders should set appropriate position sizing and leverage levels based on their risk tolerance and account size. Placing stop-loss orders and implementing trailing stops helps protect against significant losses and secure profits.

    Diversifying the trading portfolio across different currency pairs or asset classes reduces the impact of individual trades on overall performance. Regularly reviewing and adjusting risk management strategies in response to market conditions allows traders to adapt to changing environments and control risk exposure effectively.

    Utilizing Technology and Trading Tools

    Leveraging technology and trading tools enhances the trading experience for Malaysian traders. Exploring trading platforms with advanced features, such as customizable charts, technical indicators, and order types, enables traders to analyze markets and execute trades efficiently.

    Using technical analysis software and indicators streamlines the process of identifying trade setups and signals. Leveraging mobile trading apps provides flexibility and allows traders to monitor and execute trades on the go.

    Joining Trading Communities and Networking

    Joining online trading forums and communities provides an avenue for Malaysian traders to connect with fellow traders, exchange ideas, and gain insights. Engaging with other traders allows for valuable discussions, sharing of experiences, and learning from different perspectives.

    Attending trading seminars and workshops provides opportunities to learn from industry experts and expand knowledge in specific areas of trading. Seeking mentorship or guidance from experienced traders can offer valuable insights and personalized advice tailored to the needs of investors. By actively participating in trading communities and networking events, Malaysian traders can broaden their understanding of trading strategies, stay updated with market trends, and develop a supportive network that encourages growth and learning.

    Staying Updated with Market Developments

    Malaysian traders should stay informed about market developments to stay ahead in the financial markets. Following financial news and market analysis from reputable sources helps traders stay updated with economic events, policy decisions, and geopolitical developments that may impact the markets.

    Subscribing to market research sources provides access to expert analysis and insights on specific currency pairs or asset classes. Monitoring economic calendars and event schedules allows traders to anticipate high-impact news releases and adjust their trading strategies accordingly.

    Practicing Discipline and Consistency

    Practicing discipline and consistency is key to successful trading for Malaysian traders. Following the trading plan consistently, without deviating based on emotions or impulsive decisions, is crucial. Avoiding the temptation to chase market trends or make reckless trades helps maintain a disciplined approach.

    Learning from past mistakes and adjusting strategies based on performance analysis contributes to continuous improvement. Maintaining a trading journal to track progress, record trade details, and analyze trading patterns enables Malaysian traders to identify strengths, weaknesses, and areas for refinement.

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  • Ex-Credit Suisse Executive Joins Singapore Exchange

    Ex-Credit Suisse Executive Joins Singapore Exchange

    A former executive of Credit Suisse is said to be joining the Singapore Stock Exchange.

    William Gulya, Credit Suisse’s former head of Asia Pacific equity distribution, will join the Singapore Stock Exchange (SGX) Group to serve as the head of the Americas, according to a brief indication by him in a LinkedIn post on Wednesday.

    According to him, he left Credit Suisse on his own accord a couple of weeks ago and will join the exchange in mid-July. Gulya has also spent stints in senior positions at other banks, including executive director at JP Morgan and a director at Merill Lynch.

  • Our guide to Investing in Singapore 

    Our guide to Investing in Singapore 

    Singapore is often thought of as one of the most important financial hubs in the world. It also has one of the most diverse and quickly growing investment communities. If you want to invest in Singapore, you will find that the country has a lot of options and tools that can help you reach the level of financial success you require. In this article, we will discuss the many facets of investing in Singapore and present you with some useful advice to get you started.

    TradingView: Getting started with the trading platform 

    Before you start investing in Singapore, you need to make sure you have the right tools to help you make smart decisions. TradingView is a well-known and popular online trading platform that gives customers access to a wide range of financial data and research tools. TradingView gives users the ability to monitor charts in real-time, keep tabs on market trends, and access a plethora of technical analysis tools, all of which may assist them in making more educated choices about their investments.

    Opening an account with TradingView is simple, and once you have done so, you can start using the platform’s numerous tools and features right away. You can customize your trading dashboard so that it shows the information that is most important to your investment plan, and you can use the platform’s easy-to-use interface to make trades and keep track of your portfolio.

    Investing in the Singapore stock market 

    Buying shares of stock in one of Singapore’s numerous publicly listed firms is one of the most common ways that people invest their money in the nation. Singapore has a strong stock market and is home to a wide range of companies that do business in many different fields and markets.

    To get your foot in the door of the Singapore stock market, you will need to open a brokerage account with a reputable broker. The brokerage firms DBS Vickers, Phillip Securities, and UOB Kay Hian are among the most successful in all of Singapore. When you have registered for an account with the Singapore Exchange (SGX), you are allowed to begin making transactions and searching through the numerous stocks that are listed on the SGX.

     When investing in Singapore stocks, it’s important to do enough research and pick companies that match your investment goals and level of risk tolerance. Using the tools that TradingView gives you, you can do fundamental research to figure out a company’s financial health and growth potential. You can also use these tools to do technical analysis to keep an eye on market trends and find possible buying opportunities.

    Investing in the real estate market in Singapore

    Several investors have found success buying and selling homes in Singapore, a city-state. As a result, the real estate market in Singapore is another investment option that is quite popular. The real estate market in Singapore is well-known for being stable and transparent, which makes it an appealing choice for investors from both inside and outside Singapore.

    You have the option of investing in real estate directly by purchasing properties or indirectly by purchasing shares in real estate investment trusts (REITs), which are organizations that own portfolios of properties. Since buying property in Singapore can be hard and take a lot of time, it is important to work with a trustworthy real estate agent and do a lot of research before making a decision.

    Since they enable you to engage in a varied portfolio of properties without the need for enormous sums of funds, investing in real estate investment trusts (REITs) might be a more approachable way of investing in Singapore’s property market than other investment options. Mapletree Commercial Trust, Ascendas Real Estate Investment Trust, and Keppel DC REIT are three of the most successful real estate investment trusts in Singapore.

    Investing in the Singapore bond market

    Bonds provide one of several investment opportunities that can be pursued in Singapore. The bond market in Singapore is active, and investors may choose from a variety of government and business bonds to put their money into. Bonds are a low-risk investment option, so risk-averse investors who are searching for predictable returns often use bonds as their vehicle of choice.

    If you want to invest in Singapore bonds, you can work with a broker or buy into bond funds that hold portfolios of bonds. The LionGlobal Short Duration Bond Fund and the First State Investments Global Bond Fund are two excellent examples of the many bond funds that investors in Singapore have access to.

    Speculating on the market with exchange-traded funds (ETFs)

    Exchange-traded funds, often known as ETFs, are a common form of investing in Singapore due to the fact that they provide shareholders with access to a diverse portfolio of assets at a low cost and with little transaction expenses. ETFs are able to be traded on stock exchanges just like stocks, and they cover a broad variety of asset classes in addition to equities. These asset classes include commodities, bonds, and stocks.

    If you want to invest in exchange-traded funds, you’ll need to open a brokerage account in Singapore with a reputable broker who gives you access to the Singapore Exchange.The Nikko AM-Straits Trading Asia ex-Japan REIT ETF and the iShares MSCI Singapore ETF are two of the most popular exchange-traded funds that investors may purchase in Singapore.

    Investing in several mutual funds in Singapore 

    Another popular method of putting your money to work in Singapore is purchasing shares in a mutual fund. These funds provide investors with the chance to put their money to work in a diverse portfolio of assets that is overseen by experienced fund managers. There is a large selection of asset types covered by mutual funds, including equities, fixed income, and real estate, among others.

    To invest in mutual funds in Singapore, you can work with a broker or invest directly with fund companies such as Fidelity International or Aberdeen Standard Investments. It’s important to do plenty of research, choose mutual funds that match your investment goals and the level of risk you’re willing to take, and keep a close eye on how the funds are performing over time.

    Investing in new businesses inside Singapore

    The startup environment in Singapore is thriving, and the country is home to a large number of cutting-edge enterprises and entrepreneurs that are looking for funding to expand their operations. Investing in new businesses comes with both high risk and high reward, but it also has the potential to give you a huge return on your money.

    Anyone who wants to invest in Singapore’s startup scene can work with venture capital firms or angel investors who specialize in early-stage investments. If you want to invest in a business, you need to do your research. Also, it’s important to look closely at how the companies in question might grow and how they might do in the market.

    Conclusion

    If you’re an investor trying to reach your financial objectives and diversify your portfolio, investing in Singapore may provide you with a broad variety of chances to do both of those things. No matter whether you want to invest in stocks, real estate, bonds, exchange-traded funds, mutual funds, or new businesses, you can find a lot of information and resources to help you make smart decisions. 

    You will be able to keep up with the latest market trends and make more educated choices about your investments if you deal with a reliable broker and make use of tools such as TradingView. Keep in mind that you should always undertake extensive due diligence and choose assets that match your financial objectives and the amount of risk you are willing to take.

    In the end, investing in Singapore requires patience, discipline, and a willingness to take calculated risks. But if you take the right steps and show that you are committed to long-term growth, you may be able to build a diversified investment portfolio that will help you reach your financial goals over time. 

     

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  • VN-Index plunges with rising trade

    VN-Index plunges with rising trade

    Vietnam’s benchmark VN-Index dropped 1.56 percent to 1217.30 points Friday with trading value rising double-digit.

    The index closed 19 points lower after gaining nearly 23 points on Thursday. It has lost 67 points this week as global markets plunged due to concerns of inflation and disrupted supply chains.

    Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 17.5 percent to VND17.33 trillion, highest in four sessions. The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers dropped.

    SSI dropped 7 percent to the lowest since March last year in its seventh losing session in a row.

    It was followed by eight banking stocks, losing between 6.4 percent and 3.6 percent, including MBB of lender MB, TPB of private TPBank and CTG of state-owned lender VietinBank.

    Five blue chips rose, with MSN of conglomerate Masan Group rising 5.7 percent and GAS of state-owned Petrovietnam Gas gaining 4.7 percent.

    Foreign investors were net buyers to the tune of VND309.68 billion, mainly picking up HPG of steelmaker Hoa Phat Group and VND of brokerage VNDirect.

    The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 2.68 percent while the UPCoM-Index at the Unlisted Public Companies Market was down by 2.41 percent.

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  • VN-Index gains with plunging trading value

    VN-Index gains with plunging trading value

    Vietnam’s benchmark VN-Index rose 0.93 percent to 1,353.77 points Wednesday but with trading value lowest in nine months as investors’ sentiment remain low after recent plunges. The index stayed in the red throughout the day but strong buying pressure in the last hour of trading pushed it up over 12 points.

    Together with the Tuesday session, VN-Index has risen nearly 43 points after losing 68 points on Monday in one of the worst trading sessions in Vietnam’s stock market history.

    Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 31 percent to VND14.54 trillion ($633.09 million), lowest since the end of July.

    The VN30 basket, comprising the 30 largest capped stocks, saw 14 tickers gained, led by HPG of steelmaker Hoa Phat Group with a 3.2 percent rise.

    It was followed by STB of Ho Chi Minh City-based lender Sacombank, up 2.9 percent, and MSN of conglomerate Masan Group, up 2.6 percent.

    CTG of state-owned lender VietinBank rose 2.4 percent, and GVR of Vietnam Rubber Group gained 2.1 percent.

    Eleven blue chips fell, with VRE of retail real estate arm Vincom Retail falling 1.8 percent.

    FPT of IT giant FPT Corporation, VNM of dairy giant Vinamilk and VPB of private lender VPBank all fell 1.2 percent.

    Foreign investors were net sellers to the tune of VND261 billion, mainly selling VND of brokerage VNDirect and DXG of real estate developer Dat Xanh Group.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 3.45 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.22 percent.

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  • VN-Index slips after gaining streak

    VN-Index slips after gaining streak

    Vietnam’s benchmark VN-Index dipped 0.1 percent to 1,502.34 points Wednesday after six gaining sessions.

    The index climbed by 10 points in the morning but strong selling pressure in the afternoon pulled it down by 1.4 points after rising nearly 58 points in the last six sessions.

    Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, declined marginally to VND28.04 trillion ($1.23 billion).

    The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the red, with GAS of state-owned Petrovietnam Gas falling 2.3 percent after three sessions in the red.

    PNJ of Phu Nhuan Jewelry dropped 1.8 percent, and PLX of fuel distributor Petrolimex, down 1.4 percent.

    Other losers included HDB of HDBank and PDR of Phat Dat Real Estate Development, both down 1.1 percent.

    Seven blue-chip tickers gained, with POW of electricity producer Petrovietnam Power Corporation rising 2.4 percent and SAB of brewer Sabeco gaining 2.3 percent.

    Foreign investors were net buyers to the tune of VND1.02 billion, with focus on DGC of Duc Giang Chemicals Group and MSN of conglomerate Masan Group.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.16 percent, while the UPCoM-Index for the Unlisted Public Companies Market fell 0.19 percent.

  • Stock trading hits five-week low

    Stock trading hits five-week low

    Vietnam’s benchmark VN-Index rose 0.45 percent to 1,459.33 points Wednesday with trading value plunging to a five-week low as investors tread carefully amid uncertainties. The index stayed in the green throughout the day and closed nearly seven points higher after rising over six points Tuesday.

    Markets in China and other Asian countries also rose Wednesday afternoon on rising hopes Beijing will roll out more economic stimulus.

    But the trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged 14 percent to VND18.74 trillion ($819 million), lowest since February 7. The VN30 basket, comprising the 30 largest capped stocks, saw 15 tickers in the green, with BVH of insurance company Bao Viet Holdings rising 2 percent after hitting a four-week low.

    SAB of brewer Sabeco gained 1.8 percent, and VCB of state-owned lender Vietcombank went up 1.7 percent.

    Other gainers included MBB of lender MB, up 1.6 percent, and KDH of real estate firm Khang Dien House, up 1.2 percent.

    Twelve blue-chip stocks fell, with BID of state-owned lender BIDV losing 1.2 percent and VJC of budget airline Vietjet falling 0.7 percent.

    PDR of Phat Dat Real Estate Development and POW of electricity producer Petrovietnam Power Corporation both dropped 0.6 percent.

    Foreign investors were net sellers for the eight straight sessions to the tune of VND300 billion with focus on VIC of biggest private conglomerate Vingroup and VHM of real estate giant Vinhomes.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.60 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.42 percent.

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  • Trade rises to new high

    Trade rises to new high

    Foreign trade surged 22.6 percent in 2021 to a new high of $668.5 billion despite the supply chain disruptions caused by Covid-19.

    Exports were up 19 percent at over $336 billion, but domestic companies only accounted for 26.4 percent of it.

    Over 35 categories of goods saw exports of over $1 billion.

    Imports grew by 26.5 percent to $332 billion, with domestic companies accounting for 34 percent.

    The U.S. was the biggest market buying goods worth $95.6 billion, while China was the biggest source of imports ($109.9 billion).

    There was a trade surplus of $4 billion, the sixth straight year in which exports have exceeded imports.

    But the trade deficit with China not only continued but increased by 53 percent to $54 billion.

  • Trading value jumps to six-session high

    Trading value jumps to six-session high

    Vietnam’s benchmark VN-Index fell 0.01 percent to 1,476.02 points Tuesday with trading value the highest in six sessions.

    The index closed 0.19 points lower after gaining nearly 13 points Tuesday.

    Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 6.75 percent to VND27.65 trillion ($1.2 billion).

    The VN30 basket, comprising the 30 largest capped stocks, saw 19 tickers in the red, with PDR of Phat Dat Real Estate Development losing 5.9 percent to a near three-week low.

    The ticker has gone sideways for over two months.

    PNJ of Phu Nhuan Jewelry lost 2.3 percent, having fallen nearly 13 percent since its peak in mid-November.

    KDH of real estate firm Khang Dien House fell 2.2 percent, and STB of Ho Chi Minh City-based lender Sacombank, 1.9 percent.

    Nine blue chip tickers closed in the green, with HPG of steelmaker Hoa Phat Group and POW of electricity producer Petrovietnam Power Corporation gaining 2.5 percent each.

    Foreign investors were net sellers for the third straight session to the tune of VND879 billion, the highest in nine sessions.

    They focused on selling HPG of steelmaker Hoa Phat Group and VPB of private lender VPBank.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.63 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.19 percent.

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  • Revolut to Roll Out Stock Trading Feature in Singapore

    Revolut to Roll Out Stock Trading Feature in Singapore

    The U.K.-headquartered fintech has obtained a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).

    Revolut is planning to roll out a stock trading feature on its app to Singapore customers, scheduled for the first half of 2022, which allows users to buy fractional shares in U.S. listed companies, the neobank announced in a statement on Monday.

    The trading feature is free to set up with a standard Revolut account, and there is no account minimum required to invest, with the platform offering users several commission-free trades a month, depending on their subscription plan

    Besides Trading, Revolut Singapore said it is also looking to bring Commodities and Cryptocurrencies to customers herem subject to securing the relevant approvals. Revolut currently has around 16 million users worldwide.

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  • Trading Volume Surges on DBS Digital Exchange

    Trading Volume Surges on DBS Digital Exchange

    A shift to round-the-clock trading in August has seen trading volumes in the two months surpassing the total trading volume of the first eight months of the year by 40 percent.

    DBS has reported strong growth in its digital asset ecosystem, anchored by DDEx, or the DBS Digital Exchange, which now has over S$600 million in digital assets under custody as of end-October, triple the amount recorded in the previous month, according to the bank.

    The bank also said it is seeing a growing number of corporate and institutional customers among its participants, with other banks, a central bank and other digital asset exchanges among the 500 participants on the exchange.

    Becoming a participant of DDEx opens many gateways for our customers to access the burgeoning cryptocurrency and digital asset economy, Eng-Kwok Seat Moey, group head of capital markets and DDEx chair, said in a statement on Thursday.

    DDEx was launched in December 2020 with an initial offering that covered cryptocurrency trading. It has since issued a  bond through a security token offering (STO) on the exchange, and plans to list at least half a dozen security tokens by end-2022. The bank also launched a crypto trust offering that combined wealth planning services with emerging digital currencies, and its brokerage arm received formal approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services.

    At the presentation of its third-quarter results last week, the bank’s chief executive Piyush Gupta said it is planning to open the crypto exchange to the broader retail market in 2022.

    DBS previously said it expects to double the number of participants on DDEx to 1,000 and to grow its base by 20-30 percent annually for the next three years, as investments in digital tokens gain greater acceptance.

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  • Crypto Platform Zipmex Announces Senior Hires

    Crypto Platform Zipmex Announces Senior Hires

    The Singapore-headquartered exchange will begin scaling up operations with the appointment of a new COO and CFO.

    Zipmex has appointed Uber’s former APAC head of central operations, Scot Cheung, as chief operating officer (COO) and venture capitalist and finance veteran Nicolas Keravec as chief financial officer (CFO), the digital assets exchange announced in a statement on Thursday.

    Cheung brings more than 12 years of experience in helping companies scale and expand worldwide, having worked in Hong Kong, Shanghai, Seoul, Singapore, and London, including over 7 years at Uber.

    Kerevac has over 15 years of cross border experience in driving technology-focused and scalable business models and was most recently managing director and group CFO at Rocket Internet (Asia).The appointments will allow Zipmex to strengthen its presence in Singapore, Australia, Thailand and Indonesia through strategic partnerships, develop its suite of digital assets-related products and offerings, and build its technology infrastructure, the announcement said.

    Cheung will focus on growing the platform in Australia, Zipmex’s newest market, while Kerevac will focus on capital deployment and expansion plans in the platform’s markets.

    Launched in 2019, Zipmex has over $1 billion in transaction volume on its platform. Earlier this year, the company announced that it raised $41 million in a Series B funding round with co-investors such as Krungsri Finnovate, Plan B Media and MACO Thailand.