This week on Market Focus Weekly, tech stocks continue their rally with OpenAI hitting a US$500 billion valuation — but is it justified?

Host Emily Liu and guest Christopher Forbes of CMC dig into the AI boom, the staying power of the “Magnificent Seven,” and why investors might still be feeling FOMO.

We also unpack the latest U.S. government shutdown, the surprising effects of Trump’s tariffs, and whether gold at US$4,500 is really on the horizon.

Plus, could Singapore’s brand-new stablecoin be a real game changer?

Highlights:

01:25 OpenAI’s US$500B valuation

02:31 Is the Magnificent 7 still relevant?

05:00 US government shutdown

07:43 Gold races to US$4500

08:39 Oil prices head for US$60

12:14 Singapore’s XSGD stablecoin

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

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Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

With Christopher Forbes, head of Asia, CMC

Edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: Emily & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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Market news for October 2, 2025: Asian markets surge on US rate hopes, tech fired by chip deal; Samsung, SK Hynix shares climb after chips deal with OpenAI; Oil slumps to 16-week low on US shutdown and possible Opec+ plans; Cordlife tumbles 18% following notice of potential one-year suspension.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

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Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

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Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

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Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Market news for October 1, 2025: Gold hits record high on US shutdown; Oil prices stabilise after a two-day drop; India gears up for blockbuster IPO month in October; Singapore overtakes London in list of top 20 IPO markets.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

---

Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Market news for September 30, 2025: Asian stocks rise as rate cuts and shutdown loom; Gold hits record high, heads for best month in 14 years on safe-haven rush; China’s Zijin Gold shines on debut as gold prices reach record high; Australia holds key rate, signals renewed price pressure; Philippines stock falls for seventh straight day amid political unrest.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

---

Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Market news for September 29, 2025: Gold races past US$3,800/oz level as softer dollar, rate-cut bets lift appeal; Australian shares hit near 2-week high as banks, healthcare stocks gain; China’s Golden Week holiday set to revive consumer stocks; CapitaLand Commercial C-Reit opens 19.6% higher than IPO price in Shanghai debut.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

---

Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Alibaba is making waves in the AI industry. From its newest trillion-parameter model to a $50 billion investment push, are Chinese tech valuations keeping pace with reality?

This week on Market Focus Weekly, Emily Liu speaks with Raisah Rasid from JP Morgan Asset Management, to unpack the Chinese AI rally, and what it means for investors. Plus, the fallout from new US visa fees on India’s IT sector, and Singapore’s bold mid-cap index launch.

Highlights:

01:30 US mega-cap valuations

03:41 Chinese tech valuations

06:28 Alibaba’s big AI push

10:18 India reels form new US visa fee

14:14 Singapore’s new mid-cap index

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

---

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

With Raisah Rasid, global market strategist, JP Morgan Asset Management

Edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: Emily & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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Follow Market Focus Weekly podcasts every Friday:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Market news for September 25, 2025: Asian markets slide while Chinese tech continues to rise; Centurion Accommodation Reit opens 11.4% above IPO price on SGX debut; Singtel’s Optus fined A$100 million for ‘appalling’ actions against disadvantaged consumers.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

---

Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.

Market news for September 24, 2025: Alibaba unveils largest new AI model, leads Asia tech rally; Japan's Nikkei closes at record as AI rally helps overcome early losses; Singapore dollar-backed XSGD stablecoin to launch on Coinbase on Sep 30.

Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.

Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

Produced and edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: BT Podcasts, The Business Times, SPH Media

---

Follow Market Focus Daily and rate us on:

Channel: bt.sg/btmktfocus

Amazon: bt.sg/mfam

Apple Podcasts: bt.sg/mfap

Spotify: bt.sg/mfsp

YouTube Music: bt.sg/mfyt

Website: bt.sg/mktfocus

Feedback to: btpodcasts@sph.com.sg

Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

Discover more BT podcast series:

BT Money Hacks at: bt.sg/btmoneyhacks

BT Correspondents at: bt.sg/btcobt

BT Podcasts at: bt.sg/podcasts

BT Lens On: bt.sg/btlenson

See omnystudio.com/listener for privacy information.