Global Market: China stocks hold steady as gold miners gain, tech shares slip; Hong Kong dragged by insurers

The Chinese stock market showed minimal fluctuation as gold shares increased, counteracting declines in tech. Meanwhile, Hong Kong faced market pressure as insurer stocks plummeted sharply. Investors are closely monitoring U.S.-China trade relations, with forthcoming trade data expected to shed light on China’s economic condition. It is expected that policymakers will keep providing limited support…

Global Market: DBS raises full-year outlook as record Q2 profit beats estimates

DBS Group announced a robust nine percent increase in net profit for the second quarter, bolstered by a remarkable forty-two percent rise in wealth management fees. Following an exceptional first half, the bank upgraded its full-year guidance. Despite facing margin pressures, overall profit margins showed improvement with a higher return on equity. Additionally, shareholders will…

Not a moon crash, but AI sends SpaceX shares spiralling 14% lower on Wall Street. What lies ahead?

SpaceX shares plunged 14% as investors raised concerns over the company’s aggressive AI spending plans, despite strong quarterly results. The stock decline coincided with reports of a SpaceX rocket part crashing into the Moon after drifting off course for nearly a year. Analysts drew a metaphorical link between the lunar impact and the company’s falling…