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Daily Debrief: What Happened Today
The former relationship manager of Malaysian financier Low Taek Jho and former managing director of Swiss bank BSI, Yak Yew Chee, has been handed a jail term of 18 weeks and fined S$24,000 by a Singapore court.
The Monetary Authority of Singapore (MAS) said on Friday afternoon that the Singapore dollar nominal effective exchange rate (S$NEER) remains well within its policy band, notwithstanding increased volatility in international foreign-exchange markets over the last few days.
Malaysia's ringgit plunged to its weakest in more than 12 years in offshore markets on Friday as investors dumped government bonds, while the spot rate barely moved as the central bank kept a tight grip on the onshore market.
KGI Securities has downgraded Ezion Holdings to a sell from a hold due to the company's weak fundamentals and high valuation compared to international peers.
Chinese e-commerce giant Alibaba Group Holding Ltd said it racked up more than US$5 billion in transactions in the first hour of its annual 'Singles' Day' sales blitz on Friday - a third more than in the first hour of last year's spree.
- Loyz Energy returns to the black in Q1 on absence of other charges
- Croesus Retail Trust Q1 DPU up 9.8%
- Vard's Q3 loss narrows sharply
- ComfortDelGro's Q3 profit up 2.5% to S$87.3m
- QAF's Q3 profit rises 84% to S$19.4m
- Haw Par's Q3 profit jumps 21.3% on healthcare, investment growth
- Wheelock Q3 earnings jump on Ardmore Three, The Panorama sales
The STI Today
A volatile week ended on Friday with the Straits Times Index down 19.49 points at 2,814.6 in line with falls in most other emerging markets and currencies, and with more questions than answers in the minds of investors. For the week, the index gained 26 points or 0.9 per cent, with the bulk of the support coming from gains in the banks.