MONEY MASTER

Singapore’s technology sector is set for continued expansion, with total tech spending projected to reach  US$28 billion in 2026 , marking a  6% year-on-year increase , driven by  AI adoption and hyperscaler investments . AI and Government Initiatives Fuel Growth Growth is being supported by strong policy backing, including initiatives by the  Infocomm Media Development Authority (IMDA)  and the  Monetary Authority of Singapore (MAS) . Programmes such as  PathFin.ai  are accelerating  AI adoption and digital transformation , reinforcing Singapore’s position as a  regional technology hub . Hyperscaler Investments Drive Cloud Expansion Major global tech players are committing significant capital to Singapore’s digital infrastructure: Amazon Web Services  plans to invest  US$9 billion by 2028 Google  is allocating  US$5 billion  to expand its  Jurong West data centre These investments will support  enterpr...

US tariff uncertainty will likely remain a  key market overhang , even after the  Supreme Court of the United States struck down tariffs imposed under the IEEPA, according to Malaysian research houses. The reason? President  Donald Trump  has already reintroduced global tariffs under a different legal channel. What Changed — And What Didn’t After the court ruled against tariffs imposed under the  International Emergency Economic Powers Act (IEEPA) , Trump announced: 10% global tariffs Plan to raise them to  15%  under  Section 122 of the 1974 Trade Act Valid for  150 days , unless Congress approves an extension Key issue: Although legally different,  protectionism remains intact . Public Investment Bank noted Trump is unlikely to retreat, as tariffs are central to his foreign policy strategy. Kenanga Investment Bank added: New tariffs are capped at 15% But US officials suggest tariff revenue levels will remain broadly unchanged Meaning m...

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...

Summary Software stocks are facing  panic-level selling  as investors fear  AI will erode pricing power, margins and competitive moats . Even industry giants like  Microsoft  are not spared, pushing the sector into its  worst selloff since the 2008 crisis . While valuations now look cheap and technicals signal oversold conditions, investors remain unsure where the bottom is. What’s Driving the Selloff AI disruption fears  are accelerating, with new tools from  Anthropic  and  Alphabet  raising concerns that software products can be  replicated or replaced Traders describe the market as  “get me out” selling , with little regard for valuation The  S&P North American Software Index fell 15% in January , its worst monthly drop since  October 2008 Microsoft’s 10% plunge  last week showed that  even the strongest platforms are vulnerable Earnings Are No Longer Enough Only  71% of software firms beat...

China has taken a  decisive step toward technology self-reliance , ordering domestic organisations to  stop using cybersecurity products from leading US and Israeli firms  and replace them with local alternatives by  1H 2026 , according to a government directive seen by Bloomberg. What Happened Chinese authorities instructed companies to  identify and phase out foreign cybersecurity products , citing risks that sensitive data could be transmitted overseas or expose customers to security vulnerabilities. Firms named in the directive include major global cybersecurity players such as: Palo Alto Networks Fortinet Check Point Software Technologies The advisory also alleged links between these companies and foreign intelligence agencies, though  no evidence was provided . Scope of the Ban Beyond the headline names, the directive also covers a broad list of cybersecurity and software firms, including: CrowdStrike Holdings SentinelOne Rapid7 CyberArk Broadcom ...

Key Takeaway Robinhood Markets (HOOD.US) is set to replace Caesars Entertainment in the  S&P 500  on Sept 22. The move marks a  watershed moment for fintech , cementing Robinhood’s transformation from a pandemic-era trading disruptor into one of the most influential players in U.S. financial markets. What Happened S&P Dow Jones Indices  announced that Robinhood will officially join the benchmark before market open on Sept 22. Other additions include  AppLovin (APP.US)  and  Emcor (EME.US) , replacing MarketAxess (MKTX.US) and Enphase Energy (ENPH.US). Shares of Robinhood surged  7.3% in after-hours trading  on the news. Why It Matters Index Funds Boost:  Inclusion forces passive funds and ETFs tracking the S&P 500 to buy Robinhood shares, creating immediate demand. Credibility Upgrade:  Joining the S&P 500 signals financial stability and could draw more  institutional investor interest . Fintech Validation: ...

The electronics manufacturing services (EMS) sector in Malaysia has seen mixed performance in 2024 despite being part of the broader tech upcycle, with rising costs, inflation, and supply chain disruptions offsetting growth from increased global demand and outsourcing trends. Key EMS Performances Winners : SKP Resources Bhd  (+76% YTD) V.S. Industry Bhd  (+47% YTD) NationGate Holdings Bhd  (+51% YTD) P.I.E. Industrial Bhd  (+29% YTD) Strugglers : ATA IMS Bhd  (-8% YTD) JHM Consolidation Bhd  (-36% YTD) Growth Drivers and Challenges Diversification Opportunities : The China+1 and Taiwan+1 strategies have positioned Malaysian EMS players to gain market share. However, reliance on major customers, such as Dyson, continues to be a concern. Cost Pressures : High inflation and production costs have affected profit margins. Company Highlights SKP Resources : Recorded a  27% y-o-y net profit increase , benefiting from a recovery in consumer demand. V.S. Indust...

Traders pulled out of Nasdaq-100 futures at the fastest rate this year , driven by a significant selloff in chipmakers after ASML Holding NV unexpectedly lowered its 2025 guidance . This led to a massive contraction in futures holdings. Open interest in Nasdaq-100 futures fell by $5.7 billion , the biggest drop in 2024, according to Bloomberg data. Despite volume reaching 524,000 contracts , slightly above the 20-day average, traders moved out of the broader technology sector in response to ASML’s announcement, triggering declines across semiconductor shares . Globally, chipmakers lost $420 billion in value , with the Philadelphia Semiconductor Index dropping 5.3% , the steepest fall since September. Major players like Nvidia Corp were caught in the wave of selloffs, as uncertainty around the chip market outlook extended beyond 2025.

  Japanese stocks surged on Monday following the yen's sharp decline against the dollar after a strong US jobs report . The Nikkei 225 Stock Average jumped 2% to 39,408.59 , and the Topix index rose 1.5% to 2,735.15 in early trading. The yen fell to 149.13 per dollar , its weakest level since mid-August, after dropping more than 1% on Friday. The positive reaction stems from the strengthening US economy and a growing rate gap between the US and Japan , according to Shoji Hirakawa , chief global strategist at Tokai Tokyo Intelligence Lab Co. The Nikkei futures also rose 2.5% following the report showing 254,000 new US jobs in September , the highest in six months, alongside a drop in the unemployment rate. The yen's weakness benefits export-driven Japanese companies , particularly in the automobile and technology sectors , which were pressured last week by volatility in the currency.

  Samsung Electronics , the world’s leading maker of smartphones, TVs, and memory chips, plans to cut up to 30% of its overseas staff in certain divisions, according to three sources with direct knowledge of the matter, as reported by Reuters. South Korea-based Samsung has instructed its subsidiaries worldwide to reduce sales and marketing staff by approximately 15% and administrative staff by up to 30% , according to two of the sources. This reduction will be implemented by the end of this year and will affect jobs across the Americas, Europe, Asia, and Africa . While it is unclear how many employees will be affected and which specific countries and business units will experience the most significant impact, six additional people familiar with the matter confirmed Samsung’s plan for a global reduction in headcount. The sources, who requested anonymity due to the confidential nature of the information, indicated that the scope and details of the job cuts have not been fully di...

  All three major US stock indices closed higher on Wednesday, with a strong performance from the technology sector compensating for investor disappointment following a morning inflation report. The report diminished hopes that the Federal Reserve would cut interest rates by 50 basis points next week. The Dow Jones Industrial Average rose 124.75 points (0.31%) to 40,861.71, the S&P 500 gained 58.61 points (1.07%) to 5,554.13, and the Nasdaq Composite surged 369.65 points (2.17%) to 17,395.53. The S&P 500 technology index led the charge, finishing up 3.3%, boosted significantly by AI chipmaker Nvidia , which added 8% following reports that the US government might allow exports of advanced chips to Saudi Arabia. This uptick in the tech sector provided essential support to the broader market, despite inflation concerns. Earlier in the day, the Labor Department's consumer price index (CPI) showed a 0.2% rise for August, aligning with July's figure, while the Core CPI ,...

In August, US companies announced 75,891 layoffs, nearly three times the number in July and marking the largest month-to-month increase in a year, according to outplacement firm Challenger, Gray & Christmas. This surge, driven primarily by the technology sector, reflects growing economic uncertainty and rising operational costs. Key Takeaways: Significant Increase in Layoffs : The surge in layoffs to 75,891 in August represents the highest number since March, with technology firms accounting for more than half of the cuts, totaling 39,563 layoffs. This is a substantial jump from around 6,000 in July and marks the most significant reduction since January 2023. The health sector followed with 6,158 layoffs announced. Economic Uncertainty and Market Dynamics : The rise in job cuts is attributed to economic uncertainty and shifting market dynamics. Companies are facing increased pressures from rising operational costs and concerns over a potential economic slowdown, prompting tough dec...