|Bid||712.60 x 30000|
|Ask||712.40 x 134600|
|Day's Range||706.80 - 715.80|
|52 Week Range||514.20 - 720.80|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||38.50|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||0.24 (3.50%)|
|1y Target Est||8.78|
Industrial output rose 5% from a year earlier, while fixed-asset investment expanded 5.6% in the first five months. Officials have repeatedly said that the economy is strong enough to overcome the trade war and the central bank governor said recently he had “tremendous” room to adjust monetary policy if the conflict deepens. “Beijing will surely step up policy easing measures to arrest the worsening slowdown,’’ said Lu Ting, chief China economist at Nomura Holdings Inc. in Hong Kong.
Facebook has hired a senior British bank lobbyist as it braces for greater political and regulatory scrutiny in Europe over its plans to launch its own digital currency and other financial services to its 2.4bn users. Ed Bowles, Standard Chartered’s European head of corporate and public affairs, will join Facebook in September as its London-based director of public policy. StanChart, Facebook and Mr Bowles declined to comment.
Hong Kong police fired multiple volleys of tear gas at demonstrators who threw plastic bottles in running battles outside the city's legislature, angry at an extradition bill that would allow people to be sent to mainland China for trial. Tens of thousands of protesters had gathered peacefully in the Chinese-ruled city before tempers flared, some charging police with umbrellas.
Tens of thousands of Hong Kong demonstrators surrounded the Chinese-ruled city's legislature on Wednesday, forcing it to postpone a second round of debate on an extradition bill that would allow people to be sent to mainland China for trial. The protesters, most of them young people dressed in black, erected barricades as they prepared to hunker down for an extended occupation of the area, in scenes reminiscent of pro-democracy "Occupy" protests that gridlocked the former British colony in 2014.
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SGX, the Singapore exchange, is planning an aggressive expansion in foreign exchange markets over the next five years, aiming to capitalise on efforts from local regulators to strengthen the country’s grip as Asia’s largest currency trading hub. The exchange, which is dominant in stocks in Singapore and equity derivatives across the region, made a move into foreign exchange in March by buying an initial 20 per cent stake in BidFX, a trading venue used by hedge funds and banks, for $25m.
Governor Shaktikanta Das and the inflation-targeting RBI he leads is now squarely focused on boosting investment and consumption after quarterly growth cooled to a five-year low at the beginning of 2019. A benign inflation outlook and a dovish turn by the U.S. Federal Reserve strengthened the case for policy makers to switch to an “accommodative” stance on Thursday, indicating further easing ahead. The RBI was the first of the world’s major central banks to cut interest rates this year as Das identified early on the growth risks facing the economy.
Copper prices dropped as hopes faded for a quick resolution to the trade dispute, and South Korean exports fell for a fifth month. The official Purchasing Managers’ Index, which shows sentiment in industrial companies, is due for release on May 31. “The economy will see a broad weakening in May” with the big external shock of trade war escalation, said Wan Qian, an economist at Bloomberg Economics in Hong Kong.
Dubai's Emaar Properties has hired advisors including Standard Chartered for the sale of its district cooling business, sources familiar with the situation told Reuters, as part of a broader plan to offload non-core activities. Emaar Chairman Mohammed Alabbar had said in a interview with CNBC Arabia in July last year that the group, which is 32% owned by the emirate's government, is seeking to sell assets beyond its main businesses. The developer of the world's tallest skyscraper, the Burj Khalifa, last year hired London-headquartered Standard Chartered to advise on the disposal of five hospitality assets, which were sold to Abu Dhabi National Hotels.
Investing.com - Asian stocks fell on Thursday morning as traders kept an eye on developments between U.S. and China amid a recent escalation in trade tensions.
The FTSE 100 was up 0.3%, while the FTSE 250 rose 0.5%, with builder Galliford Try leading gains after announcing job cuts. After weeks of waiting for significant updates on Brexit, investors welcomed a "new deal" for Britain's departure from the European Union set out by Prime Minister Theresa May, which offered the prospect of a possible second referendum on the agreement.
Oman has hired a group of international banks including HSBC and Standard Chartered for a planned bond issue which could go up to $2 billion in size, sources familiar with the matter said. Oman's bond would be the country's first international issuance of 2019, and will be seen by many as a test of its ability to access external funding after Moody's downgraded it to junk earlier this year – the last international rating agency to do so. Oman has mandated a group of banks including JPMorgan , HSBC, Standard Chartered and First Abu Dhabi Bank for its planned deal, said the sources.
Moody's Investors Service has today affirmed Standard Chartered Bank Malaysia Berhad's (SCBM) foreign currency deposit rating at Baa1/P-2. At the same time, Moody's has upgraded the bank's baseline credit assessment (BCA) to baa1 from baa2, affirmed the bank's adjusted BCA at baa1, the counterparty risk assessments (CRA) at A3(cr)/P-2(cr), and the local and foreign currency counterparty risk ratings (CRR) at A3/P-2. The upgrade of SCBM's BCA to baa1 from baa2 reflects the bank's improving asset quality, profitability and capital, and sound funding and liquidity.
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Malaysia's economic growth pace likely slowed in the first quarter, due to tepid consumption and softer global demand as a result of the U.S.-China trade war, a Reuters poll showed. The poll of 13 economists predicted the economy will grow at a median rate of 4.3% in January-March, slower than the 4.7% pace of the fourth quarter. Exports from Southeast Asia's third-largest economy contracted in February and March, and will likely face sustained pressure in the coming months as the United States pursues another round of tariff increases on Chinese goods, Capital Economics said in a research note.