Singapore Airlines’ shares slump over 8% after downbeat earnings <\/p>\n
Singapore Airlines’ shares plunged a day after the carrier reported a 59% drop<\/a> in its first-quarter earnings.<\/p>\n SIA shares fell more than 8% Tuesday to log their largest intra-day decline in nearly an year, data from LSEG showed. It was last down 7.11%.<\/p>\n Net profit fell to 186 million Singapore dollars ($144 million) for the quarter ended June 30, according to the company’s earnings report. SIA attributed the drop to reduced interest income and losses from its associates.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Shares of China’s baby product companies jump after Beijing announces childcare subsidies<\/p>\n Shares of babycare and baby product companies rose Tuesday after China launched a childcare subsidy program in its bid to tackle worsening fertility rates.<\/p>\n China will offer an annual childcare allowance of 3,600 yuan ($501) for each child born on or after Jan. 1, 2025, until the age of three, the government reported on Monday after trading hours<\/a>.<\/p>\n Shares of Beingmate, baby food and formula maker, rose over 9%, while Hong Kong-listed shares of China Feihe, which produces infant formula, rose as much as 8.3%, before paring gains.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Asia markets start Tuesday trading in the red<\/p>\n Asia markets started the trading day lower. <\/p>\n Japan’s benchmark\u00a0Nikkei 225<\/a>\u00a0fell 0.61%, while the Topix lost 0.76%.<\/p>\n South Korea’s\u00a0Kospi<\/a>\u00a0fell 1.09%, and the small-cap Kosdaq slipped 0.88%.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a>\u00a0lost 0.42%.<\/p>\n \u2014Lee Ying Shan<\/p>\n Opening calls<\/p>\n Good morning from Singapore. Asia markets are poised for a weaker open.<\/p>\n Japan’s benchmark\u00a0Nikkei 225<\/a>\u00a0was set to open lower, with the futures contract in Chicago at 40,920 while its counterpart in Osaka last traded at 40,820, against the index’s last close of 40,998.27.<\/p>\n Futures for Hong Kong’s\u00a0Hang Seng Index<\/a>\u00a0stood at 25,367, pointing to a weaker open compared with the HSI’s last close of 25,562.13.<\/p>\n