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Daily Debrief: What Happened Today
Singapore's stocks are set for a 15 per cent tumble this year, putting them in the same league as Greece. Baring Asset Management and UBS Group AG say shares need to get even cheaper before they're prepared to buy.
Shares in Chinese shipbuilder Cosco Corporation (Singapore) continued to soar, drawing a query from the Singapore Exchange on its unusual share price movements.
Listed Singapore developer Hiap Hoe has agreed to sell a property in Australia for A$116.3 million (S$117.8 million). The transfer is expected to be completed by late January next year.
In a filing to the Singapore Exchange before the market opened on Tuesday, Raffles Education said that it has appointed 25-year-old Chew Han Wei as assistant vice-president of Raffles 4 Vallees SA. He is the eldest son of chairman cum chief executive of the group Chew Hua Seng.
The Monster Employment Index, released on Tuesday, showed that no industry sectors or job roles in Singapore registered positive year-on-year growth last month.
Indonesia is punishing more than 20 companies in an unprecedented move for starting deadly forest fires that killed 19 people, a government official said on Tuesday.
The STI Today
Singapore stocks finished 0.3 per cent higher on Tuesday, with the Straits Times Index advancing 7.42 points to 2,852.97. The bluechip index got a small boost after China announced that it planned to strengthen structural reforms.