📉 Wall Street Pauses Ahead of Fed Decision as Big Names Slip
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
Stocks edged lower Tuesday as traders awaited the Federal Reserve’s highly-anticipated rate decision. The S&P 500 fell 0.13% to 6,606.76 after touching a record, the Nasdaq Composite slipped 0.07% to 22,333.96, and the Dow Jones Industrial Average lost 125.55 points, or 0.27%, to close at 45,757.90.
US:NVDA:Nvidia
US:MSFT:Microsoft
US:PLTR:Palantir
US:GOOGL:Alphabet
Key market leaders slid, with Nvidia down 1.6%, Microsoft off 1.2%, while Palantir and Alphabet also retreated.
US:ORCL:Oracle
US:BTC:Bitcoin
Trade tensions stayed in focus as U.S. and Chinese officials advanced talks, reaching a “framework” agreement allowing TikTok to continue U.S. operations. Oracle’s stock gained 1.5% on the news.
US:TSM:Taiwan Semiconductor Manufacturing Company
US:INTC:Intel
KRX:005930.KQ:Samsung Electronics
Barclays lifted its price target for Taiwan Semiconductor to $325 from $275, citing AI-driven demand. Analysts said TSMC remains shielded from threats posed by Samsung and Intel.
US:C:Citigroup
US:JPM:JPMorgan
US:GS:Goldman Sachs
US:BAC:Bank of America
US:MS:Morgan Stanley
Wells Fargo’s Mike Mayo reaffirmed Citigroup as his top banking pick, raising its price target to $125. Price targets were also increased for JPMorgan ($345), Bank of America ($60), Goldman Sachs, and Morgan Stanley, highlighting strong capital market activity.
US:LLY:Eli Lilly
Shares of Eli Lilly climbed 2% after announcing a $5 billion Virginia facility to expand production of cancer drugs. The move is part of a broader $27 billion plan to build four new U.S. manufacturing plants.
US:CYTK:Cytokinetics
After hours, Cytokinetics rose about 1% following news it will raise up to $550 million via convertible senior notes due 2031.
🚨 Big Moves in Singapore’s Corporate & Market Scene
SGX:T6I.SI:ValueMax Group
ValueMax Group launched two 3-month and one 6-month digital securities commercial paper issuances on the SDAX and ADDX platforms. On ADDX, the 3-month Series 016 carries 3.55% p.a. while the 6-month Series 009 offers 3.60% p.a., aiming to raise up to $85 million in total. On SDAX, the 3-month Series 010 issuance, also at 3.55% p.a., seeks up to $60 million.
The group also allotted 301,000 new ordinary shares via warrant exercises, bringing its total to 936,943,139 shares. Outstanding warrants stand at 10.86 million, exercisable at S$0.36 by Sept 2026.
SGX:40D.SI:IPS Securex
IPS Securex secured a $16.9 million contract, strengthening its order book.
SGX:I06.SI:Intraco Limited
Intraco issued its 22nd series of commercial paper under the SDAX CP Facility Programme, raising $9.39 million at 3.8% p.a. for 30 days. Its chairman personally subscribed $1.2 million worth, or 12.8% of the issuance. Subsidiary Taurus Point Capital acted as adviser.
SGX:C52.SI:ComfortDelGro (CDG)
ComfortDelGro, through joint venture KBH Metro Partner with RATP Dev, has been prequalified to bid for the Copenhagen Metro’s operations and maintenance contract. The firms previously collaborated on Greater Paris’ Metro Line 15 South, Singapore’s Jurong Region Line, and other global projects. CDG continues expanding globally, operating rail systems in Singapore, New Zealand, France, and Sweden.
SGX:G07.SI:Great Eastern Holdings (GEH)
Great Eastern Holdings hit an all-time high at $15.73 on Sept 16, surpassing Oversea-Chinese Banking Corp’s (OCBC) prior delisting offer.
SGX:O39.SI:OCBC
While the share price movement has little impact on OCBC’s valuation, GEH’s contributions remain crucial to group profits.
KL:5134.KL:Sungei Bagan Rubber Company
Sungei Bagan, a Malaysian shareholder with 9.53 million GEH shares post-bonus issue, stands to gain RM2.38 million in dividends. Its NAV per share rose by RM1.38 from GEH’s price surge.
SGX:5DX.SI:Meta Health
Meta Health announced it will receive $136,831.82 after a breach of settlement agreement by former top executives of two subsidiaries.
SGX:BKV.SI:XMH Holdings
XMH is selling 14.8% of Mech-Power Generator to Mitsubishi Heavy Industries Energy System Asia (MHIESA) for $12.3 million, booking a $10 million gain. The deal enhances collaboration with MHIESA, a major supplier in the Asia-Pacific. Mech-Power will leverage MHIESA’s global network to expand reach and boost revenue. XMH shares closed at $1.65 on Sept 15, up 132.39% year-to-date, valuing the firm at $190 million.
SGX:C6L.SI:SIA Group
SIA Group reported a 5.4% year-on-year increase in passenger traffic for August. Cargo demand, however, showed signs of easing.
ASL Marine Holdings Boosts Stake in Indonesian Subsidiary
Valuetronics Announces Dilution in Trio AI Joint Venture as Yee Hop Subsidiary Invests HK$15 Million for Majority Stake
CosmoSteel Holdings Compulsory Acquisition: 3HA Capital Offers S$0.25 Per Share in Singapore Takeover
🌏 Markets Buzz: Fed Cut Hopes, Tencent Bond Move, Meituan Partnerships & Evergrande Fallout
US:DJT:Donald Trump
US President Donald Trump predicted a “big cut” from the Federal Reserve ahead of its Sept 17 meeting. Economists expect a 25 basis-point reduction as the Fed tackles slowing jobs growth and sticky inflation. Trump has repeatedly pressured Fed Chair Jerome Powell to lower rates and even urged him to resign. He is considering Kevin Hassett, Christopher Waller and Kevin Warsh as possible successors when Powell’s term ends in 2026.
HK:0700.HK:Tencent
Tencent is planning to raise RMB8 billion (US$1.1 billion) via its first Dim Sum bond issuance in four years, according to Bloomberg. Investor demand could push yields down by 40–50 basis points across three CNH tranches.
HK:3690.HK:Meituan
Meituan has teamed up with KFC China to launch a special “rider meal” package priced from RMB9.9, with subsidies from Meituan red packets. The company also revealed plans to open its first offline Xiaoxiang supermarket next month and reported that riders in China’s tier-1 cities earned an average of RMB12,826 in August.
HK:0011.HK:Hang Seng Bank
Hang Seng Bank repurchased 200,000 shares worth HKD23.8 million at HKD118.4–119.7 per share on Sept 16. Since its buyback mandate, the bank has accumulated 6.73 million shares.
HK:9988.HK:Alibaba Group (BABA-W)
Alibaba’s Southeast Asia platform Lazada has fully integrated with Tmall, enabling merchants to expand into the region with a single backend click. The move strengthens Alibaba’s cross-border e-commerce reach.
HK:3333.HK:China Evergrande
The Hong Kong High Court appointed Evergrande’s liquidators as receivers of founder Hui Ka Yan’s global assets. The injunction bars Hui from disposing of his holdings while receivers work to identify and preserve them.
US:NVDA:NVIDIA
NVIDIA’s China-specific AI chip RTX6000D faced a lukewarm market reception, according to wire reports, raising questions about its competitiveness amid tightening US tech export controls.
HK:LI AUTO-W:Li Auto
Li Auto will launch its new i6 five-seater battery-electric SUV on Sept 26, as it ramps up competition in China’s EV market.
🌐 Market Movers: Jack Ma Returns, Tencent Expands, HSBC Buyback & Fed Watch
CN:MINIEYE:MINIEYE
MINIEYE officially launched its autonomous logistics brand, strengthening its position in smart transportation and logistics technology.
HK:9988.HK:Alibaba Group (BABA-W)
Alibaba’s Taobao is said to be preparing a mini program inside Tencent’s WeChat, enabling direct closed-loop transactions.
Separately, reports suggest Jack Ma has returned to participate in Alibaba’s key AI and e-commerce decisions, signaling renewed involvement from the co-founder.
HK:0700.HK:Tencent
Tencent unveiled its Hunyuan 3D 3.0 model, advancing its generative AI capabilities. The company also began marketing three Dim Sum bond offerings, with pricing expected soon.
Meanwhile, Tencent Cloud confirmed it will expand aggressively across Asia-Pacific, according to senior executive Dowson Tong.
HK:3115.HK:Hang Seng Index (HSI)
Hong Kong’s HSI edged up 19 points by midday, supported by gains in autos and pharmaceuticals. It briefly crossed 26,600 to hit a four-year high as new Stock Connect entrants surged.
HK:6886.HK:TransThera-Bio (TRANSTHERA-B)
TransThera-B shares soared as much as 64% in early trading, marking a 50-fold surge in under three months since its debut, surpassing Hansoh Pharma (HK:3692.HK) in market cap. The company later said it was unaware of reasons behind the unusual price and volume swings.
US:IHG:InterContinental Hotels Group
InterContinental Hotels opened a new Kimpton Hotel in Hong Kong’s Tsim Sha Tsui district, extending its luxury lifestyle brand footprint in Asia.
HK:2777.HK:Kaisa Group
Kaisa Group’s shares rocketed as much as 37% after announcing its debt restructuring had taken effect, sparking investor optimism over its survival prospects.
HK:376.HK:Yunfeng Financial (YUNFENG FIN)
Yunfeng Financial fell 10.6% after pricing a HKD1.15 billion top-up placement at a nearly 17% discount.
HK:3800.HK:GCL Tech
GCL Tech placed shares at an 8.7% discount, raising HKD5.39 billion in net proceeds. Shares rose 1.6% on the news, reflecting investor support despite dilution.
US:AAPL:Apple
Apple analyst Ming-Chi Kuo reported that iPhone 17 pre-orders have surpassed those of the iPhone 16 during its first weekend, suggesting strong consumer demand ahead of launch.
HK:0005.HK:HSBC Holdings
HSBC repurchased approximately 3.66 million shares for HKD391 million on Sept 15, continuing its aggressive buyback program.
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