SK Hynix’s flash memory unit Solidigm said to pick banks for US IPO in 2027
Solidigm, SK Hynix's flash memory unit, selected Goldman Sachs and Morgan Stanley for a 2027 US IPO that could raise about $10 billion.
Finance
Broadcom plans US$50 billion financing for OpenAI chips, WSJ says
Broadcom is arranging over $50 billion in financing for its custom AI chip with OpenAI; Apollo and Blackstone are in lender talks. Oracle is also seeking chip financing.
Wall Street ends lower, off record highs, as Treasury yields climb
Wall Street closed lower as long-dated Treasury yields climbed and oil-driven inflation fears ended record highs; investors expect a Fed pause amid upcoming earnings.
US dollar gains as oil climbs and investors focus on the Fed
The dollar rose on higher oil prices as investors awaited Fed minutes and comments for rate signals; the euro and yen weakened.
US 30-year mortgage rate hits highest in nearly three years
US 30-year mortgage rate jumped to 7.49%, a nearly three-year high, as applications fell 4.2%, worsening home affordability before November elections.
Singapore shares fall; OCBC, UOB lead STI’s 1.6% decline on Wednesday
Singapore's STI fell 1.6% Wednesday, led by declines in OCBC, UOB and DBS, after Citi downgraded OCBC to sell amid cautious bank outlook.
What’s taking Hongkong Land fund so long to seal Marina One deal?
Hongkong Land’s Marina One commercial acquisition is delayed because the S$5.7 billion asset’s size may require more time to raise equity.
Strong fundamentals support Singapore’s bond market despite US Treasury yield movements
MAS's Chee Hong Tat says strong fiscal fundamentals and investor confidence support Singapore's bond market despite US Treasury yield shifts, with stable SGS yields and robust corporate issuance.
MAS rolls out AI risk management guidelines for Singapore’s financial sector
MAS issued AI risk management guidelines for Singapore’s financial institutions, effective 2027, requiring board oversight, lifecycle controls, third-party accountability, and proportionate controls.
Euro drops toward 17-month lows, dollar holds gains after Fed minutes
Euro fell toward 17-month lows on French fiscal worries, while the dollar held gains after Fed minutes showed divided policymakers; French bond yields jumped.
Greenback steady as euro trades around 17-month low amid French debt worries
The euro steadied near a 17-month low on French debt and political worries, while the dollar stayed strong on rising US Treasury yields.
Hong Kong property developer New World seeks more time to pay bonds with exchange offer
Hong Kong's New World Development launched a debt exchange offer, letting bondholders swap 2027-2028 notes for new secured 2032 notes, to ease repayment pressure and boost liquidity.