SATS reported Thursday its fiscal first quarter net profit dropped 14.4 percent on-year to S$54.7 million amid amid trade uncertainty.
Fish breeder Qian Hu reported Wednesday its 2Q19 net profit surged 61.6% on-year despite lower sales of pet fish, amid a boost from its edible fish segment.
Global fund managers were a tad less pessimistic, but they continued to fret over economic risks, the BofA-ML fund manager survey for July found.
Maybank Kim Eng cut its outlook for Singapore economic growth Friday after second-quarter data came in worse than expected, with a rising recession risk.
Temasek’s portfolio has been buffeted by the U.S. trade war, and Singapore’s state-owned investment company said it’s carefully weighing its next steps.
Trump may see Vietnam as another trade war target, but Taimur Baig, chief economist at DBS, said it likely won’t keep firms from setting up shop there.
Global markets may have heaved a sigh of relief after this weekend’s G-20 meeting in Japan, but the trade-war hostilities likely won’t end anytime soon.
“Fighting won’t stop you from eating,” the brokerage said in a note Friday.
Investors should be watching the earnings impact of the trade war, Steven Wieting, chief investment strategist at Citi Private Bank, said Tuesday.