Market View: US ADP payroll report shows private sector jobs up 37,000 last month, sharp slowdown from April; Fed’s Beige Book study in focus; Asian market movements in relation to US data; Citigroup to cut 3,500 tech jobs in China; Singapore retail sales

Money Matters with Hongbin Jeong and Chua Tian Tian

Singapore shares inched higher to track broader gains in Asia today.

The Straits Times Index went up by 0.18% to 3,910.72 points at about 2.15pm Singapore time, with a value turnover of S$703.63M seen in the broader market.

In terms of companies to watch, we have Thai Beverage, after the beer maker yesterday announced a US$2 billion multicurrency debt issuance programme.

The group said net proceeds from the programme will be used for “general corporate purposes” of the company.

Elsewhere, from a softer than expected US private-sector jobs report and what that means for global markets, to remarks made in the Federal Reserve’s closely watched “Beige Book” study – more international developments remain in focus.

Also on deck – how Citigroup said today that it will cut the numbers of employees at two of its technology centres in China by about 3,500.

On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital.

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