Market View: Fed Chair Jerome Powell on data vs bigger inflation story; Olam Agri’s offer to acquire Namoi Cotton; No Signboard’s controlling shareholders to sell shares; US on Microsoft Bing in China; Fashionistas sue Hermes in California over Birkin bag

The Evening Runway with Elliott Danker, Timothy Go and Chua Tian Tian

Singapore shares rose at the opening bell this morning, following mixed results in global markets.

In early trade, the Straits Times Index (STI) rose 0.6 per cent to 3,197.77 points after 49.5 million securities changed hands in the broader market.

In terms of companies to watch, we have Olam Group. Its indirect 64.57 per cent-owned subsidiary, Olam Agri, has launched a non-binding indicative offer to acquire all shares in Australian cotton ginning company Namoi Cotton for some A$122 million (S$107.8 million).

Elsewhere from the US Federal Reserve sticking to its earlier projection of three rate cuts this year and comments by Fed Chair Jerome Powell on whether a strong labour market could derail its plans to cut rates, more international headlines are in focus.

Also on deck, fashionistas suing luxury brand Hermes for not selling them the iconic Birkin handbag without buying scarves, shoes and belts!

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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