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Business Times
a day ago
- Business
- Business Times
Despite dramatic headlines, markets resume growth trajectory
[SINGAPORE] Recent world news headlines remind me of Michelle Yeoh's award-winning movie Everything Everywhere All at Once, in which multiple events happen in parallel, creating different possibilities. Geopolitical trade tensions are happening alongside ongoing physical conflict between nations, while populations are feeling the effects of climate change as natural disasters strike communities unexpectedly and seemingly more often. The state of the world feels increasingly volatile, uncertain, complex and ambiguous, as every event threatens to upend financial markets and rattle the global economy. The reality, though, is that financial market movements are painting a more benign story underneath the dramatic headlines, especially when compared against the near-term impact of major historical events. Today, the S&P 500 is at an all-time high, rallying more than 20 per cent since its drop in April and surpassing its last peak in February. The continued growth in the market despite global events echoes the age-old phrase 'nothing ever happens', an expression originating from the depths of the online forum 4Chan to describe the lack of significant international developments in modern history. This phrase continues to be a popular meme among young investors today, when analysing the market impact of recent geopolitical tensions. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A market apathetic to international events History has shown that shocks from international developments cause knee-jerk reactions in the market, but their effects quickly taper off and markets continue their growth trajectory. Take, for example, the Covid-19 pandemic in 2020, when countries were locked down and travel was limited for an extended period. Despite that, the S&P 500 fell 5.9 per cent in March 2020 but rebounded 12.1 per cent in three months, reversing its dive and even gaining some ground. The recent India-Pakistan skirmish is another case in point. Five days after the first conflict, markets recovered with the S&P 500 rising 0.2 per cent and 30 days after, markets rose 5.7 per cent. The reality is that since World War II, less than 10 per cent of geopolitical shocks have significantly affected markets, with such impact from most global events being very short term. Factors driving market apathy Firstly, retail investors piling into stocks are driving markets. In the first half of 2025, they poured a record US$150 billion into US mutual funds and exchange-traded funds (ETFs), while investor holdings of US index futures were near a three-year high. Retail inflows were the highest in over a decade, indicative of investors' unwavering confidence in the market. These funds flows reflected investors rebuilding their positions after a reduction in the most extreme tariff risks, and their confidence in the market after adopters and enablers of artificial intelligence indicated a strong outlook in their first-quarter results. Secondly, globalisation has enabled technology and innovation to travel beyond borders, allowing supply chains to become diversified as countries invest into their capabilities to become self-sufficient. Countries are no longer isolated in their technological progress. The globally connected innovation ecosystem enables knowledge sharing that accelerates development and fosters competition. This diffusion of technology has directly impacted global supply chains, making them more diverse, adaptive and resilient, while allowing nations to localise segments of production more readily than in the past. Countries are increasingly prioritising self-sufficiency in today's multipolar world, especially as more nationalistic tendencies emerge. These factors effectively cushion today's financial markets and shorten impact from international events. As a result, investors who stayed calm through these developments and continued investing instead of divesting their portfolios benefitted as markets settled down and continued to climb. What investors can do Does this mean that investors can fully ignore these events and stick with their investment strategy regardless of what happens? I don't think so. Instead, investors need to review their portfolios regularly to ensure it fits their financial needs and goals. They need to ensure their portfolios are diversified, and underlying holdings meet quality criteria. While diversification does not ensure profit or protection against loss, there are some strategies that investors can employ to ensure portfolio resilience in volatile times. Suitable investors may want to consider asset classes that aim to reduce correlations to markets, such as alternative investments in the form of market-neutral funds, multi-strategy hedge funds, relative value arbitrage funds and private equity funds investing in key infrastructure assets. However, it is also important to be aware that investing in alternative investments is intended for experienced and sophisticated investors who are willing to bear the risks of the investment. Having different asset types within a portfolio works well as they respond differently to market shocks and developments. Geographic diversification also makes sense, as emerging markets in Asia and parts of Europe outperform. Portfolio diversification will also enable investors to weather political leadership changes. Political transitions and changes – especially during elections or regime shifts – can lead to new fiscal and tax policies, as well as shifts in world trade orders and regulations. Markets often react sharply to these changes even if the impact may be transient. Some shifts may cause more lasting impact to portfolios, so investors will do well to not be overly exposed to any country or region, and expand beyond their bases so as not to double-down on domestic risks. Prioritising companies with strong balance sheets, consistent earnings and low debt also is a defensive sleeve in investors' portfolios. Investing in long-term structural themes that endure beyond short-term volatility is also useful as these themes can offer growth even in weak macro environments, and provide returns in the medium term. Still, many traps remain for investors, and a credible management team can help them identify early winners and navigate the market. Regularly occurring geopolitical turmoil makes investing feel risky and unstable, but history tells us that the market always recovers and stabilises. The key for investors is to have a portfolio that will weather uncertain times, and allow them to hold out until the market recovers. That way, they can still rest easy while staying invested the next time everything everywhere occurs all at once. The writer is the Asia South head of client investment advisory and market executive Singapore, Citi Private Bank
Forbes
2 days ago
- Forbes
Viral Tea App Breached, Exposing 13,000 Private User Images
Tea, the viral app that allows women to anonymously share photos of men they're dating, has been ... More breached. Tea, the viral app that allows women to anonymously share photos of men they're dating, has been breached. Over 72,000 images including 13,000 Tea user photos and government ID images — as well as 59,000 images from posts, comments and direct messages — have apparently been leaked online, according to a report in 404 Media. The 4Chan users told 404 Media they had found the images via an exposed database hosted on Google's mobile app development platform Firebase. The data trove of Tea users was reportedly shared on controversial platform 4Chan in the early hours of July 25, with information also available on X, formally Twitter. It came after the app was attacked by men as it went viral last week, seeing over a million downloads. Men are concerned about the way Tea — which allows women to 'spill Tea' about their dates and expose things such as infidelity — could be open to misuse. A thread posted on the right wing troll message board of 4Chan on July 24 allegedly called for a 'hack and leak' campaign, according to NBC News. Tea allows women to 'spill Tea' about their dates and expose things such as infidelity 'Yes, if you sent Tea App your face and drivers license, they doxxed you publicly! No authentication, no nothing. It's a public bucket,' a post on 4chan providing details of the vulnerability reads, according to 404 Media. 'DRIVERS LICENSES AND FACE PICS! GET THE F*** IN HERE BEFORE THEY SHUT IT DOWN!' Meanwhile, a map on Google Maps had been created that claims to show Tea users' locations — although it does not include names — according to NBC News. The Tea user photos are a result of the sign up process, which requires people to take selfies to prove they are who they say. This allows them to post anonymously on the app and Tea says the images are deleted after review. Data Accessed During The Tea Breach The data accessed was from 2023, according to a Tea spokesperson who was talking to NBC News. 'This data was originally stored in compliance with law enforcement requirements related to cyberbullying prevention,' they told NBC. Tea 'should be made accountable for this misinterpretation of how to record private information,' says Jake Moore, global cybersecurity advisor at ESET. 'This data should never have been stored, let alone made accessible." He points out that the Tea breach took place 'on the same weekend' the Online Safety Bill came into place in the UK. The Bill requires UK users to upload their IDs to view certain over-18s websites or content. I have asked Tea for a comment and will update this article if the firm responds. The Tea app is intended to create a safe space for women to share information about their dates online. The idea itself is noble, however, this data leak had shown the issues with the app itself — as well as the consequences when platforms don't have enough guardrails in place to protect users.
Gulf Insider
3 days ago
- Gulf Insider
Popular "Tea" App For Women Posting Dirt On Former Boyfriends Hacked
Imagine if it were an app for men to stalk and collect negative information on former girlfriends? The media would be cheering if they were hacked. Women are in an uproar over the recent breach of a 'women's safety app' called Tea, which is currently the most downloaded app on the Apple Store and is used primarily as a hub for posting 'red flag' information on specific men. Tea promotes itself as an place that allows women to anonymously review men and spill 'the tea' on those they've dated. About 1 million women have started using the app in the past week and is reminiscent of the Facebook 'Are We Dating the Same Guy?' groups available in many cities. Tea, though, uses AI and private information to verify that people making profiles are real women. Users can run background checks, search for criminal histories and reverse-search photos to check whether a man is catfishing. It was founded in 2023 by Sean Cook, who cites his mother getting catfished online as the motivation for the app. According to a social media post from Tea, the app has about 4 million users. Critics argue that the app is a tool for digital stalking and defamation, allowing jilted women to anonymously spread misinformation about their former dates, boyfriends and husbands in order to ruin their future relationship chances and avoid legal repercussions. It acts essentially as a Yelp for men in which anyone can claim anything. Men cannot join the app or respond to accusations. The underlying danger of the app, beyond the potential for slander, is that it is yet another mechanism that pretends as if men are the problem when it comes to modern dating. Women users say they need the app to filter out poor candidates for meet-ups and relationships, but the use of a digital stalking tool would also be treated by any man as an immediate red flag for a woman. It would seem that some female users of Tea are about to have their gossip corner blow back on them. The hacking breach of the app exposed tens of thousands of women and their details, which allows men to identify and avoid them. Furthermore, pictures of Tea members are circulating widely on social media as a source of meme comedy (a number of the users are less than attractive). Women commenters assert that the hack is more proof that women's 'safe spaces' are under attack. The incident was likely inspired by a thread on 4Chan discussing Tea, with some members creating a call to action to expose it. A 4Chan user posted a link Friday morning, allegedly allowing people to download the database of stolen images, and troves of alleged victims' identification photos have been posted on 4Chan and X. While the data leak is small compared to the number of total users, it does create doubts as to the security of personal information in the future. Whether or not this affects Tea's user activity is another matter. In all likelihood, the company will be shut down by litigation (websites with similar women's whisper networks have been crushed by lawsuits over the years). In the past, dating was relegated to limited environments; neighborhoods and towns in which bad behavior would eventually be exposed (if real) by word of mouth, and accusations could be addressed and debunked (if false). With the advent of online dating and social media, the gossip mill has gone global and an average person's reputation can be destroyed on an epic scale. Everyone is in everyone else's business and there is no privacy or escape. The fact that online stalking by women is treated as acceptable while a similar project by men would be treated as a national emergency clarifies the greater problem at hand. Feminism has led to male demonization and a crippling double standard in social interactions where bad behavior by women is excusable. Is it any wonder that dating in the US is imploding and over 63% of men today are opting out of relationships?
Daily Tribune
3 days ago
- Daily Tribune
Hackers hit app where women review men they've dated
AFP | San Francisco, United States An American app that lets women share 'red flags' or feedback about men they have dated, called 'Tea,' confirmed Friday that hackers had accessed some 72,000 images including user IDs. A preliminary investigation indicated hackers early Friday accessed a 'legacy' storage system holding images uploaded by users who signed up before February of last year, a Tea spokeswoman told AFP. Stolen pictures included some 13,000 selfies or images featuring photo identification submitted to verify Tea accounts, according to the spokeswoman. The rest of the pictures were from posts, comments, or messages publicly viewable in the app, the company said. No email address or phone number data was accessed, according to Tea. Tea's website boasts a 'sisterhood' of more than 1.6 million women who can share dating advice and experiences anonymously on the platform. The app has attracted interest and triggered controversy with its promise to help women avoid problematic men and get intel on dating prospects. Critics point out privacy risks of date reviews that include photos and names, while fans tout the potential for women to avoid manipulative, dishonest, or violent encounters. Tea became the top free app in the Lifestyle category in Apple's App Store this week after it went viral on social media. Copies of ID card photos swiped from Tea were posted Friday on 4Chan, an online forum known for 'incel' culture and rampant misinformation, according to screenshots shared on Reddit and other sites. The security breach, involving images of IDs like driver licenses, exposes victims to the risk of stalking or identity theft, according to Trey Ford, head of security at cybersecurity company Bugcrowd. 'Connecting usernames to actual legal names and home addresses exposes these women to a variety of concerns,' Ford told AFP. 'Identity theft is only the tip of this iceberg.'
India Today
3 days ago
- India Today
Anonymous women's dating app Tea hacked, 72,000 user images including selfies and IDs stolen
The app that shot to the top of the App Store this week by promising women a safe place to 'spill the tea' about men is now at the centre of a serious data breach. Tea, a buzzy social network and a new dating app for women billed as a virtual whisper network for women, confirmed on Friday that hackers had broken into one of its old databases and stolen tens of thousands of photos, including government IDs and verification to a company spokesperson, the intruders accessed roughly 72,000 images, including 13,000 pictures that women had submitted during the sign-up process to prove their gender. 'This data was originally stored in compliance with law enforcement requirements related to cyberbullying prevention,' the spokesperson explained, insisting that the stolen material dated back more than two years, according to the reports. What exactly is Tea?For the uninitiated, Tea lets its female users upload pictures of men and search for them by name. Each profile can be tagged with a 'red flag' or a 'green flag', along with comments about behaviour, background checks and warnings about catfishing. Screenshots are disabled, and anonymity is a core selling point. Tea was dreamed up by creator Sean Cook after, as he writes on the company website, watching his mother endure 'a terrifying experience with online dating', which included being catfished and even dating men with criminal app's tools are designed to let women vet potential dates: reverse-image searches, criminal record lookups, background checks and a place to share their own experiences. The format has clearly struck a chord. Over the past week, the app has experienced an extraordinary surge, climbing to the number one spot in Apple's free app chart. On Thursday, it boasted of 'nearly a million new sign-ups'. By Friday morning, it claimed the number had passed 2 that very popularity appears to have made Tea a target.'Hack and leak' campaignLate on Thursday, the right-wing message board 4Chan began buzzing with posts urging a 'hack and leak' operation aimed at Tea. By Friday morning, a user had shared a link purporting to be a download for the stolen material. Images claiming to be selfies and ID photos from Tea users soon began circulating on both 4Chan and X (formerly Twitter), according to the reports. After this massive leak, the company released a statement, 'Protecting our users' privacy and data is our highest priority. Tea is taking every necessary step to ensure the security of our platform and prevent further exposure.' It adds that external cybersecurity specialists are now on the case. 'We are working around the clock to secure our systems.' - Ends
