The chip sector melted down Friday for its third 6% one-day drop of the year after U.S. regulators moved to pump the brakes on China's military ambitions as it issued wider restrictions on semiconductor and AI technology that can be sold to the world's second-largest economy. Read More...
Reuters
Rich mainland Chinese snap up luxury homes in Singapore despite tax hikes
Wealthy mainland Chinese have been the top foreign buyers of expensive private properties in Singapore this year as the city-state reaps the benefits of post-pandemic reopening and a relatively strong currency, despite tax increases. Singapore has long been a magnet for the mega-rich, wooed by the Southeast-Asian city-state’s stable politics, strong currency, and reputation as a safe haven to park assets, analysts said. Singapore’s property prices have also tended to accelerate gradually, with few booms and wild busts seen in other popular markets.
