Rae Wee

The yen surged to a seven-month high on Monday as traders reassessed the ​battered currency's outlook, driven by expectations of faster Bank of Japan policy tightening and growing bets that Japanese ‌investors could repatriate funds.

StanChart turns to hedge fund strategies to shield wealth clients from volatility

Singapore's United Overseas Bank, or UOB , has appointed Tan Choon Hin ​as head of ASEAN and Greater ‌China, effective September 1, it said in a statement on Tuesday.

Bank of Singapore, the private banking arm of Overseas-Chinese Banking Corp , has ​begun rolling out an agentic AI platform that will cut new ‌account opening times for wealth clients down to 15 business days from more than 30.

Singapore sovereign wealth fund GIC plans to deploy an additional $30 billion into hedge funds and is spreading its bets ​across artificial intelligence, top executives said, while reporting its weakest long-run returns since 2020.

DBS Group aims ​to grow assets under management in its wealth business to more than S$1 trillion ($774 ‌billion) by 2030, its unit's head said, as Singapore's biggest bank bets on rising Asian wealth and inflows into regional financial hubs.

The yen jumped suddenly against the dollar on Thursday, with traders alert to ‌the prospect of intervention from Japan to prop up its stubbornly weak currency and jumpy about a possible new approach to currency-buying from Japanese officials.

A unit of Indonesia's sovereign wealth fund Danantara raised $1.5 billion in its debut U.S. dollar bond sale, drawing strong ‌global demand in a closely watched test of investor appetite for the country's assets during a period of market stress.

He said this would counter China's growing dominance in the region.

More than half of wealthy individuals in Asia-Pacific consider an economic recession their biggest worry over ​the next three years, a survey by Lombard ‌Odier found, and nearly half are also concerned about an equity market correction or crash.