Market View: US profit-taking, Nvidia down; ByteDance, Broadcom reportedly working on developing advanced AI processor, Trump-Biden Presidential Debate, Prudential’s US$2b share buyback, Singapore’s May inflation meets expectations and more

Singapore equities were muted at the opening bell today, echoing sentiments on Nasdaq where chipmaker Nvidia registered its second straight day of losses on Friday, closing down 3.2%.  In the morning, the Straits Times Index (STI) opened 0.01 per cent lower at 3,305.84 points after 32.5 million securities changed hands in the broader market. In terms of companies to watch, we have Prudential, after the Asia-focused insurer yesterday announced the launch of its US$2 billion share buyback programme, which is expected to be completed no later than mid-2026.  Elsewhere from Singapore’s latest inflation numbers to China luring US$2.3 billion of Middle East sovereign money in 2023 – more local and international headlines remain in focus.  Also on deck, how TikTok’s parent ByteDance is reportedly working with US chip designer Broadcom on developing an advanced artificial intelligence processor to help the social media firm secure supply of high-end chips amid US-Sino tensions. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with David Kuo, Co-founder, The Smart Investor.See omnystudio.com/listener for privacy information.