Market View: Tech-led rally in Asia, Micron’s earnings; OpenAI reportedly discussing making company a for-profit business; First Sponsor raises S$244m from rights issue; Hanwha vs Dyna-Mac; Singapore’s factory output far outstrips economists’ median forec

The Evening Runway with Hongbin Jeong, Roshan Gidwani and Chua Tian Tian

Singapore stocks began today trading in negative territory, mirroring overnight losses in global markets.

In early trade, the Straits Times Index (STI) decreased 0.3 per cent to 3,573.67 points after 36.1 million securities changed hands in the broader market.

In terms of companies to watch, we have First Sponsor. The mainboard-listed property developer has raised gross proceeds of about S$244 million from its rights issue.

Elsewhere, from more on Singapore’s factory output far exceeding economists’ median forecast in August, to Ikea testing smaller stores in China – more local and international headlines remain in focus.

Also on deck – Micron’s latest earnings outlook, plus how OpenAI is discussing giving chief executive officer Sam Altman a 7 per cent equity stake in the company and restructuring it to become a for-profit business.

On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Terence Wong, CEO, Azure Capital.

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