Kurt Mayell, CMC Markets

Kurt Mayell, CMC Markets

Kurt Mayell

2 April 2024
Market View: Isetan Singapore soars as much as 150% on privatisation offer; UOB lowers rates on savings account; Australian shares hit all time high, investors mull RBA minutes; China’s Xiaomi surged on EV launch; FDI to China down to 23-year low; McKinsey offers some staff 9 months pay to leave company; Microsoft-backed Rubrik reveals US$354m net loss in IPO filing
Singapore stocks traded muted this morning, tracking the US market’s subdued performance.
In early trade, the Straits Times Index (STI) was flat, rising just 0.02 point to 3,234.91 points after 80.6 million securities changed hands in the broader market.
In terms of companies to watch, we have Isetan Singapore. It’s the hot stock of the day after news of Japan’s Isetan Mitsukoshi proposing to privatise mainboard-listed firm.
Elsewhere from shares of China’s Xiaomi surging as much as 16 per cent on the back of its electric vehicle launch last week, to Australian shares hitting an all-time high, more corporate and international news remain in focus.
On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Kurt Mayell, Head of CMC Markets, Singapore.

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23 February 2024
Bigger Picture: How will the recent wave of buybacks impact markets?
The rally that has taken U.S. stocks to an all-time high might have another powerful driver in the year ahead... companies buying back more of their own shares.
Kurt Mayell, Head of CMC Markets, Singapore, shares his thoughts on why these companies are stepping up buyback schemes, and his views on Fed rates going forward.
Presented by Ryan Huang

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