Market View: US Fed’s outsized 50bps cut; rates to be 2.75 to 3 per cent in 2026; Market reactions; SK Hynix shares plunge on Morgan Stanley downgrade; Oiltek’s new contracts; Nintendo and Pokemon sues Pocketpair; Boeing furlough tens of thousands of emp

Singapore stocks started the day on a muted note, after US indices and Europe’s main stock index fell overnight.

In early trade, the Straits Times Index (STI) rose 0.02 per cent to 3,593.18 points after 17.8 million securities changed hands in the broader market.

In terms of companies to watch, we have Oiltek International. The renewable energy solutions provider said today that it secured new contracts worth approximately RM19.5 million (S$5.9 million) from Africa, Central America and Malaysia. 

Elsewhere, it’s all about the US Federal Reserve from its outsized, 50-basis point interest rate cut to its dot plot of future rates which is set to bring the range to 2.75 to 3 per cent in 2026. 

Also on deck – SK Hynix shares tumbling on a double downgrade at Morgan Stanley. Nintendo sueing Pocketpair and all about Boeing!

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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