Costs, rebates and margins
Most car owners in Singapore will be familiar with the name Jardine Cycle and Carriage (JC&C), a company involved in the retail, distribution, and provision of after-sales service for Mercedes-Benz, Mitsubishi, Kia and Citroen vehicles.
Asia picked up the negative lead from European and US trade and ran with it – most regional bourses have lost significant ground.
The main theme in the FX space was a weaker USD as bonds rallied and yields fell.
Whilst data is streaming ahead in the US, Europe is moving in the opposite direction.
The small cap space in the US finally breached the 10% correction level overnight as the Russell 2000 extended its slide.
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