The Afternoon Update with Lynlee Foo

On March 13, two women who founded a daycare centre for kids with cancer and other critical illnesses, were named as The Straits Times Singaporean of the Year 2023. What does this award mean for them? And what keeps them going? On What's Trending, Hongbin Jeong speaks to Ronita Paul and Geraldine Lee, Co-Founders of Arc Children's Centre, to share more about their achievements and their story. Highlights: 1. Ronita, behind the story of starting this daycare centre, I believe there’s a young boy and a promise you made to this young boy? Tell us more. - 1:52 2. Were there any specific hurdles you encountered during the establishment of the daycare centre and how did you overcome them? - 4:20 3. What keeps you going? Is there a specific moment that perhaps a child has inspired you to keep going and keep doing what you’re doing? - 7:37 4. How do you think this distinction will help raise knowledge and appreciation of Arc Children's Centre and its noble mission? - 10:55 5. How do you plan to leverage this honour to further the cause and expand the impact of Arc Children's Centre? What are the goals for the centre's future? - 11:48

Questions on when the US Fed will cut its benchmark interest rate for the first time this year are rising. But Fed Chair Jerome Powell and policymakers are expected to play it safe when they meet this week, keeping their rate unchanged for a fifth straight time. That’s as they still need further evidence that inflation is returning to their 2% target. On Money in the Market, Hongbin Jeong speaks to Danish Lim, Investment Analyst, Phillip Nova to find out more on what to expect in the interest rate decision later tonight. 

The equity market has rallied powerfully since November 2023. So after a sharp rally of this nature, are we in overbought market conditions? Investor sentiments at bullish extremes and a high concentration in US Big Tech tend to lead to heightened risks of short- term volatility. But despite risks of short-term volatility, can larger tailwinds behind the bull market remain intact? On Money in the Market, Hongbin Jeong speaks to Neo Bee Leng, Investment Strategist, Bank of Singapore, to find out how investors can navigate the current market dynamics and strategies to mitigate short-term volatility.

On What's Trending, Kate Middleton's conspiracy theories and rumours has been debunked after her recent sighting with Prince William at Windsor. But during her absence, what kind of conspiracy theories and rumours circulated online?

Will the Bank of Japan really ditch its ultra loose monetary policy tomorrow? Governor Kazuo Ueda and his board have one more day to decide if it’s time for Japan’s first interest rate hike in 17 years. While speculation is mounting on whether the BOJ will raise its key interest rate, what if they delay once more? On Money in the Market, Hongbin Jeong speaks to Tareck Horchani, Head of Dealing, Prime Brokerage, Maybank Securities, to find out more about the implications of the BOJ’s interest rate hike.

On What’s Trending, we look into the internet’s verdict on Starbucks’ Spring drink lineup. We also find out how to make the viral Pizza Lava Toast. And also, a man in China got a clepsydra-inspired hairstyle.

Frasers Centrepoint Trust will be added to the STI effective from Monday (18 March). This now brings the total number of S-REITs in the STI to seven. Does this mean the overall performance of S-REITs will have a bigger impact on the movement of the STI? Will this inclusion drive FCT shares higher? What kind of investment returns can we expect?  On The Afternoon Update, Hongbin Jeong speaks to Dan Chang C S, Trading Rep, Phillip Securities, for a market wrap of the week. They also discuss some of the 16 Singapore-listed stocks that have booked net retail inflow over the past 10 weeks, including CapitaLand Integrated Commercial Trust and Medtecs International Corporation.

Asia investment grade credit may set to benefit from both the end of the US hiking cycle and potential global economic slowdown, with structural demand likely from increasing investor interest. While markets are still divided on how severe the slowdown will be in the United States, Asia's economic cycle has diverged from developed markets. And this backdrop bodes well for Asia IG bonds, creating attractive opportunities. On Money in the Market, Hongbin Jeong speaks to Omar Slim, Co-Head of Asia ex-Japan Fixed Income at PineBridge Investments, to find out more about the opportunities Asia IG bonds can bring.

Last year’s wipeout of Credit Suisse bonds sparked panic among rich Asian investors who had loaded up on the risky bank debt. But now, additional tier 1 bonds are seeing a resurgence in Asia. So why are funds buying more of Asean banks’ dollar AT1s? Who were the top 10 investors in Asean banks’ dollar AT1s in February? On Money in the Market, Hongbin Jeong speaks to Rena Kwok, Credit Analyst, Asian Financials, Bloomberg Intelligence, to find out more. 

On What’s Trending, the decor used at Willy-Wonka’s physical event is open for auction on Ebay. Britain’s Queen Camilla received her very own Barbie doll. And office pods are now using sensors that can track workers’ stress levels to help companies detect employee’s stress levels.