Daily Briefing: Singapore, Malaysia to sign high-speed rail agreement; Point72 mulls more recruits

And here's why SGD is depreciating against USD.

Singapore and Malaysia are set to ink a bilateral agreement next month for the development of a high-speed rail which will connect the two countries. The draft agreement will set out the project’s detailed costs, and revenue-sharing aspects. It will also touch on whether a tunnel or bridge will be built across the Johor Strait in order to link the HSR. Read more here.

Point27 Asset Management plans further recruits in Singapore following the hiring of nine people as it expands in a region where rivals have pulled back. This year’s additions helped boost Point72’s Singapore employees to 27, from 14 in March 2015, Chris Coward, chief of the office and head of risk for the firm’s international business, said on Monday. The Stamford, Connecticut-based family office, which oversees $11 billion, employs fund managers, analysts, quantitative developers and risk researchers in Singapore, he added on the sidelines of a ceremony to mark the relocation to a new office that can house 60 employees, double the previous capacity. Click here to check out their plans.

The popular sentiment was that the USD would be in trouble after Trump was elected President. It was assumed to be similar to Brexit earlier this year, when the UK Pound depreciated against most major currencies following the unexpected result of the Brexit vote. In actual fact however, Trump’s victory in the election didn’t mean that the USD would decline. Check out why here.