CNA938 Rewind - Stock take today: US stocks snap three-day gains, Japan's rice prices out of reach
CNA938 Rewind
On the daily markets analysis on Open For Business, Andrea Heng and Hairianto Diman speak with Naomi Fink, Chief Global Strategist at Nikko Asset Management.
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Independent Singapore
3 hours ago
- Independent Singapore
The millionaire mindset: 3 powerful ways wealthy people think differently
What distinguishes those who create long-term wealth from those who live paycheck to paycheck and struggle financially? According to a recent article from New Trader U, it's not just earnings, inherited wealth, education, or pure chance. The difference lies in mindset, how people approach life, and what they think about money, opportunity, and how they spend the most valuable resource on earth—time. Research indicates that self-made billionaires have espoused mental agendas that unswervingly direct their decisions and choices toward continuing success. These aren't innate qualities or strictly protected secrets; these are hands-on, easy-to-learn methods of thinking that anyone can acquire and develop. Here are three fundamental patterns of thinking that distinguish wealthy individuals: Long-term advanced thinking People of permanent wealth are reinforced by a mindset that favors 'long-term' over 'short-term.' Instead of pursuing instantaneous rewards or freaking out about short-term expenditures, they ask—How will this decision affect my finances 10 or 20 years from now? See also The Cheapest & Most Expensive Areas to Live in Singapore This future-focused mentality changes their behavior and, ultimately, their actions. Rather than indulging in fleeting pleasures, they invest in growing assets, such as businesses, stocks, and real estate. They also understand that time is the ultimate leverage factor. In their professions, they are more into learning, gaining experience, and networking. They understand that acquiring experience may not immediately yield compensation, but that it lays the groundwork for future success. The capacity to postpone self-gratification is a trademark of sustainable wealth-building. 'It can't be done' vs. 'This is possible' Where others see impediments, the wealthy see launchpads and building blocks. This approach is particularly evident in times of economic recessions, failed attempts, and personal disappointments. While most would react with distress or defeat and then withdraw completely from life, financially successful individuals view these episodes as remarkable opportunities to innovate or transpose for advancement. They meet challenges head-on and with curiosity, not panic, asking, 'How can I benefit from this?', 'What can I learn from this situation?' rather than 'Why is this happening to me?' Wealth machines vs. paychecks The wealthy don't just work for money; they build systems that make money for them. While many people focus on increasing their pay, wealthy individuals concentrate on accumulating assets that generate passive income. This mentality frees them from the trap of swapping time for money that can lead to financial independence. All financial decisions are sifted through a simple lens—Will this multiply in value or create income? If not, they move on. Mindset: The first investment These three thought patterns are not kept back for a select few. They're psychological habits anyone can espouse and implement. The good news is that you don't need so much wealth to begin thinking like a well-heeled individual. Start with one change—ask better questions, meet a challenge head-on, or use your time on something that will pay off in the future. When you're consistent, your mindset can become your most treasured asset on your ride to financial independence. See also What Are Singapore Treasury Bills and Are They a Good Investment?
CNA
13 hours ago
- CNA
Taiwan central bank says US debt rising too fast may impact trust in Treasuries
TAIPEI :Taiwan's central bank governor warned on Saturday that rapidly rising U.S. debt could be "unfavourable" to the outlook for U.S. Treasuries and that U.S. President Donald Trump's trade policies have made investors cautious. Taiwan's $593 billion in foreign exchange reserves are more than 80 per cent made up of U.S. Treasury bonds, according to the central bank, which said earlier this month that Treasuries were "sound" and still favoured by investors. It added there were no worries about the dollar's position as the leading international reserve currency. Governor Yang Chin-long, in a speech posted on the central bank's website, said Trump's repeated criticisms of the U.S. Federal Reserve's monetary policy have caused concerns about its independence. "In addition, Trump 2.0's trade policy has made investors hesitant about holding U.S. Treasury bonds; Trump's budget, the 'One Big Beautiful Bill Act,' may cause U.S. debt to expand too quickly, which is unfavourable to the outlook for U.S. sovereign debt," he said. "All of these have had a significant impact on the international monetary system centred on the U.S. dollar and based on U.S. creditworthiness." Trump's sweeping tax-cut and spending bill is the centerpiece of his domestic agenda. The bill would lead to a larger-than-expected $2.8 trillion increase in the federal deficit over the decade, despite a boost to U.S. economic output, the nonpartisan Congressional Budget Office projected on Tuesday. Trump, in his first few weeks in office, also announced sweeping tariffs on a broad swathe of countries and trading partners, including Taiwan, only to pause them for 90 days in April to allow for talks to take place. Yang said Trump had been hoping the tariffs could resolve the U.S. trade deficit. "However, the tariff policy not only fails to solve the structural problems, it will also impact the U.S. economy, and threaten to further affect the outlook for global trade and the economy."
CNA
14 hours ago
- CNA
Paws on board: China expands high-speed train access for pets as ownership booms
BEIJING: Pets are now allowed on more high-speed trains in China as authorities seek to make travel more accessible for a growing number of urban pet owners. Passengers can bring small dogs and cats aboard 38 high-speed trains under an expanded pilot scheme by state rail operator China Railway. This builds on the initial trial of 10 trains that began earlier this year. Eight major high-speed rail routes are now included in the expanded programme, covering popular lines such as Beijing-Shanghai, Beijing-Guangzhou, Beijing-Harbin, and Shanghai-Kunming, China Railway announced in a WeChat notice on Friday (Jun 20). The launch of the pilot in April marked the first time pets were officially allowed on high-speed passenger trains in China. Each passenger is limited to bringing one domesticated dog or cat. The pet must be in good health, weigh no more than 15kg and be no taller than 40cm at the shoulder, China Railway said. Pet owners also have to present a valid identity card and a certificate of animal quarantine for their furry companion when booking through the national rail ticketing system, called 12306. The pets are housed in climate-controlled containers in designated carriages, and monitored by railway staff at intervals of no more than two hours, according to local media reports. The expansion of the pilot scheme is to 'better meet the needs of passengers travelling with their pets', China Railway said in its Friday notice. China's pet industry has boomed in recent years, fuelled by young, affluent consumers increasingly willing to spend on their furry companions. An expanding number are seeking to travel with their animals, even abroad, despite challenges in securing pet-friendly transport and accommodation. According to the latest China Pet Industry White Paper released by Petdata, the urban market for pet dogs and cats rose by 7.5 per cent to 300.2 billion yuan (US$41.7 billion) in 2024.
