Market View: What does TikTok’s suing of the US federal government mean for other media/tech counters in the US, and what does UOB’s results mean for trio of local banks on SGX?

The Evening Runway with Hongbin Jeong, Roshan Gidwani and Chua Tian Tian

Singapore stocks declined at the opening bell this morning, tracking subdued overnight performance in the US market.

In early trade, the Straits Times Index (STI) shed 0.4 per cent to 3,287.81 points after 29.8 million securities changed hands in the broader market.

In terms of companies to watch, we have UOB, after the lender posted a net profit of S$1.49 billion for its first quarter ended Mar 31, down 1.6 per cent from what we saw a year ago.

Elsewhere, from Elon Musk proposing to launch robotaxis in China, to TikTok suing the US federal government as its struggles to survive in the country, we’ve got more international and corporate headlines in focus.

Also on deck, how the US reportedly revoked licences that allowed companies like Intel and Qualcomm to ship chips used for laptops and handsets to Chinese telecoms equipment maker Huawei Technologies.

On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with James Cheo, Chief Investment Officer, Southeast Asia and India at HSBC Global Private Banking and Wealth.

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