MONEY MASTER

Key Takeaways Singapore's manufacturing PMI climbed to 51.3 , its highest level since  2018 , driven by strong AI-related semiconductor demand. Technology funding surged to S$3.78 billion in June , signalling growing investor confidence in Singapore's AI ecosystem. Wall Street's AI rally continued , providing a supportive backdrop for Singapore's technology and manufacturing sectors. AI is expanding beyond chipmaking , with nationwide workforce upskilling initiatives accelerating digital transformation. Singapore is emerging as a key beneficiary of the global AI investment cycle , supported by manufacturing, capital inflows and innovation. Market Insight While much of the world's attention remains on AI giants such as  NVIDIA ,  Microsoft  and  OpenAI , another beneficiary is quietly emerging —  Singapore . Recent economic data suggests the city-state is becoming one of Asia's biggest winners from the global artificial intelligence boom. From semiconductor ...

Nvidia  CEO Jensen Huang has downplayed the recent tech stock selloff, calling it a  buying opportunity  and reaffirming that the  AI growth cycle is still in its early stages . Tech Selloff Driven by Rate and Valuation Concerns Global technology stocks have come under pressure amid: Rising interest rate concerns Fears of  overvaluation in AI-related stocks The  Kospi  fell as investors trimmed exposure to AI-driven names, which had previously led a strong global rally. Nvidia Signals Long-Term Confidence in AI Huang emphasized that the current market pullback does not reflect weakening fundamentals: AI infrastructure buildout is “just beginning” The sector remains in an  early investment phase He described the correction as a chance for investors to  accumulate positions at more attractive valuations . Strategic Partnership Strengthens AI Ecosystem Nvidia also announced a  multi-year collaboration  with  SK Hynix  to deve...

Taiwan Semiconductor  heads into its April 16 earnings with  strong momentum , as booming AI demand continues to drive both  revenue growth and pricing power,  but investors are now focused on whether margins have peaked. Revenue Surge Signals Strong AI Demand TSMC has already reported  Q1 revenue of US$35.7 billion , marking a  35% year-on-year increase  and beating expectations. The growth was driven by: High-performance computing (HPC) , including AI, now contributing  58% of total revenue Price hikes of 5%–10%  on advanced nodes A record  45.2% YoY growth in March revenue , the strongest monthly performance on record This underscores TSMC’s position as a  critical supplier in the global AI supply chain , where demand remains structurally strong. Margins Hit Record Levels, but Risks Emerging TSMC guided  Q1 gross margins at 63%–65% , the highest in its history, supported by strong AI-driven demand and pricing power. However,...

Intel Corp  has emerged as one of the  hottest stocks in the market , delivering a stunning rally that added over  US$100 billion in market value  within days. Record Rally Signals Renewed Confidence Intel shares have surged  51% over eight consecutive sessions , marking the  strongest stretch in its history  and its best weekly gain since 2000. Year-to-date, the stock is now up  ~69% , building on last year’s  84% rally , as investors increasingly bet on a  successful turnaround strategy . Strategic Moves Drive Momentum The rally was fueled by a series of positive developments: A  US$14.2 billion buyback  of its Ireland chip facility stake from  Apollo Global Management Participation in  Elon Musk’s Terafab project , supplying chips for next-generation technologies A partnership with  Alphabet  to supply future  Xeon processors for data centres These moves signal a shift toward  expansion and stra...

Cryptocurrencies fell sharply alongside global equities as renewed geopolitical tensions triggered a  risk-off shift across markets , reversing recent optimism. Crypto Slides as Geopolitical Risks Intensify Bitcoin  dropped  as much as 2.8% to below US$66,300  during Asian trading, while broader crypto markets saw deeper losses: Ethereum  fell up to  4.7% Solana  declined  5.1% The selloff followed comments from  Donald Trump  indicating  more aggressive military action against Iran , dampening earlier hopes of a near-term resolution. Risk Assets Retreat, Oil Surges The renewed escalation sparked a broad retreat from risk assets: MSCI Asia Pacific Index fell 1.7% , reversing recent gains Brent crude surged over 5% to above US$106 per barrel , reflecting heightened supply concerns Markets have been increasingly sensitive to geopolitical developments, with asset prices  whipsawing in response to headlines . Bitcoin Tracks Equitie...

Nvidia (NVDA.US)  is now trading at its  lowest price-to-earnings (P/E) ratio in seven years , as geopolitical tensions and concerns over AI returns weigh heavily on investor sentiment. Valuation Compression Signals Market Caution Nvidia’s forward  P/E has dropped to ~19.6x , falling below the  S&P 500 average (~20x)  — an unusual shift for a high-growth technology leader. The decline follows a  ~20% drop from its October peak , wiping out over  US$800 billion in market value , despite strong fundamentals. War and Inflation Fears Drive Selloff The broader market downturn, triggered by the  Middle East conflict , has raised concerns that: Oil prices will remain elevated Inflation could reaccelerate Central banks may  delay rate cuts or tighten policy These macro risks have pressured high-growth tech stocks, including Nvidia. AI Spending Concerns Weigh on Outlook Investor sentiment has also been hit by doubts around  AI monetisation ti...

Walt Disney Co.  shares slipped after newly appointed CEO  Josh D’Amaro  faced immediate challenges, with two major  billion-dollar technology initiatives encountering setbacks  within his first week in office. Tech Bets Hit Early Roadblocks Disney’s  US$1.5 billion investment in Epic Games Inc.  came under pressure after the gaming company announced  1,000 job cuts , citing weak engagement for recent versions of its flagship title  Fortnite . The partnership was central to Disney’s strategy of building a  digital entertainment ecosystem , integrating its franchises into immersive gaming experiences. Meanwhile, a separate  US$1 billion planned investment in OpenAI  has effectively collapsed after the company decided to  shut down its Sora AI video platform , ending its collaboration with Disney. Strategy Shift Toward Digital and AI Faces Uncertainty D’Amaro, who officially took over on March 18, had outlined a vision of tr...

Rakuten  Trade  expects  foreign  investors  to  return  to  Malaysian  equities  as  the  ringgit  strengthens  amid  prolonged  Middle  East  tensions  and  elevated  oil  prices. Foreign  Holdings  Stable  Despite  Outflows According  to  Rakuten,  foreign  shareholding  on  Bursa  Malaysia  has  remained  relatively  steady  despite  earlier  outflows —  suggesting: Long- term  investors  have  largely  held  positions Short- term  traders  drove  recent  selling Key  Point:  Foreign  ownership  hasn’t  meaningfully  collapsed,  indicating  underlying  confidence  in  Malaysian  assets. Year- to- date,  foreign  funds  recorded  net  inflows  of...

Quick Summary Asian stocks outperformed the US , avoiding Wall Street’s AI-driven sell-off China and South Korea rebounded , led by semiconductor names Gold and silver retreated  after recent record highs Asia-Pacific equities are  up 12% YTD , vs a slight decline in the S&P 500 Asia Stays Resilient Despite US Tech Angst Asian equities largely shrugged off a US market slide triggered by concerns that  artificial intelligence could erode profits across multiple industries . The  MSCI Asia-Pacific Index  swung between gains and losses, with: Japan’s Topix +0.2%  (after reopening from holiday) South Korea +1.1% , recovering early losses Shanghai Composite +0.6% Hang Seng -1.8% Key point:  Asia has avoided the intense AI-driven rotation hitting US software and tech stocks. Why Asia Is Outperforming Asia is seen as a  beneficiary of AI supply-chain demand , particularly in semiconductors Investors are rotating into  chipmakers in South Korea a...

Shares of  Samsung Electronics Co Ltd  surged after a report said the company is set to  begin mass production of next-generation HBM4 memory chips , a critical component in artificial intelligence infrastructure. According to Yonhap News, Samsung plans to  ship HBM4 chips to  NVIDIA Corp  as early as the  third week of February , where the chips will be used in Nvidia’s upcoming  Vera Rubin AI accelerators . The report cited people familiar with the matter. Samsung’s stock climbed as much as  6.4% , extending its strong 2026 rally to nearly  40% year-to-date , as investors welcomed signs the company is  closing the gap with rival  SK hynix Inc , currently Nvidia’s main supplier of high-bandwidth memory. The move comes amid a broader boom in memory prices, driven by  exploding demand from hyperscalers  such as  Amazon.com Inc  and  Alphabet Inc , which are racing to build AI data centres. Prices for som...

Summary Shares of  Roblox Corp  jumped sharply after the company reported  stronger-than-expected users and bookings  for the fourth quarter, driven by hit games and broad-based engagement growth across its platform. What Drove the Rally Daily active users hit 144 million , beating estimates of 140.4 million User growth surged 69% year-on-year , far exceeding expectations Bookings reached US$2.22 billion , topping Wall Street forecasts of US$2.09 billion Shares  soared as much as 27% in extended trading Hit Games + Broad Engagement Roblox said blockbuster titles such as  Steal A Brainrot  and  Grow A Garden  helped fuel traffic and record engagement in 2025. But the growth wasn’t just from top titles: Games outside the top 10 saw 68% growth in engagement , highlighting a healthier and more diversified ecosystem Outlook Turns More Bullish 2026 bookings guidance:  up to  US$8.55 billion Analyst consensus:  US$8.05 billion The gui...

Quick Summary BYD has lost over US$60 billion in market value  since May amid a sharp sell-off China EV demand is cooling faster than expected , with subsidies fading Rising battery and chip costs are crushing margins Investors fear widespread earnings downgrades  across the sector What’s Happening Shares of  BYD Co  have come under heavy pressure, with Hong Kong-listed stock down about  7% this week  following weak sales data. The decline extends a months-long sell-off that has erased  more than US$60 billion  in market capitalisation. The rout has spilled over to other Chinese EV names, amplifying concerns over the sector’s  profitability and growth outlook . Demand Is Cooling — Fast Investors were already bracing for slower growth in 2026 as  government subsidies were reduced , but the pace of the slowdown has surprised the market. BYD January domestic sales:   109,569 units ,  ~50% lower YoY XPeng : Deliveries  down ov...