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Ambiq Micron started its secondary listing on the Singapore Exchange on July 30. The chip designer, already listed in New York, is hiring for engineering roles in Singapore. Chief executive Fumihide Esaka said, “Singapore has been a strategic part of Ambiq’s growth for many years.” The firm focuses on edge AI.
Singapore oil product stocks fell to 37.95 million barrels in the week of July 29, government data showed on July 30. Residual fuel and middle distillates inventories both fell, pushing total stocks to their lowest level since mid-June. Meanwhile, light distillate stocks rose for the first time in four weeks.
Asian stocks rose as chip shares revived confidence in the artificial intelligence trade. South Korea’s Kospi Index soared over 14 per cent, with SK Hynix and Samsung Electronics leading the recovery. Sameer Samana at Wells Fargo said, "The outlook for US equities remains constructive, supported by strong corporate earnings and AI."
Japan conducted yen-buying intervention in New York on Thursday to prop up the currency. This move came ahead of the Bank of Japan’s policy decision on Friday. Finance Minister Satsuki Katayama said, "We are always ready to respond with a sense of urgency," as the yen fell against the dollar.
Annual core inflation in Japan’s capital accelerated to 1.9 per cent in July, data showed on Friday. This rise, driven by food and daily necessities, keeps the central bank on track to consider further interest rate hikes. Meanwhile, factory output rose in June, showing the economy is weathering high oil costs.
Chip stocks in Singapore rose on Friday (Jul 31) as confidence returned to the artificial intelligence trade. AEM shares jumped 12.5 per cent, while UMS added 7.4 per cent. These gains followed a Wall Street surge. However, the Straits Times Index fell 0.9 per cent as local bank shares got hit.
Asian stocks struggled on Thursday, July 30, after a massive US$2 trillion rout hit South Korean markets. Investors remain worried about artificial intelligence and uncertain US interest rates. Portfolio manager Gina Kim said, "There does appear to be an irrational, panic-like element to the current selling" amid ongoing global market volatility.
The US economy likely grew in the second quarter, supported by strong consumer spending and AI investment. James Knightley said, "The consumer is still spending and we have the ongoing frenzied tech investment cycle that we're seeing." Experts expect a 2.1 per cent growth rate, matching the previous quarter's pace.
Societe Generale posted a record quarterly profit of 1.79 billion euros on Thursday (Jul 30). Strong retail banking and tight cost controls helped the lender beat analyst estimates. While trading revenue fell for the third straight quarter, the bank raised its 2026 profitability target and announced a large share buyback.
Gold prices fell on Thursday, July 30, as higher US Treasury yields pressured the metal. Spot gold dropped 0.4 per cent to US$4,048.39 per ounce. ANZ analyst Soni Kumari said, "Yields are a byproduct of the rate expectations," as markets assessed Federal Reserve chairman Kevin Warsh’s recent comments on inflation.
Hong Kong’s stock exchange is proposing to scrap its lunch trading break, a move Singapore tried before. SGX removed the pause in 2011 but brought it back six years later. Market analyst Zavier Wong said, "Singapore's own experience tells us that an extra hour on its own doesn't necessarily create new capital."
Asean gold demand stayed strong in Q2 2026, even as global interest fell. Indonesia and Thailand led this growth, bucking a worldwide trend. WGC noted, "Indonesia's currency weakness and concerns about the domestic economic outlook continued to reinforce gold's role as a store of value." Many investors got more gold.