Daily Debrief: What Happened Today
Stories you might have missed
China lets yuan fall faster, share trading suspended as prices tumble
China accelerated the depreciation of the yuan on Thursday, sending regional currencies and stock markets tumbling as investors feared the Asian giant could trigger competitive currency devaluations from trading partners.
DBS, Standard Chartered said to face China currency suspensions
DBS Group Holdings and Standard Chartered are among banks suspended from some foreign-exchange business in China, according to people with knowledge of the matter.
Noble Group tumbles to 2008 low as investors shun mining shares
Noble Group, Asia's largest commodity trader, tumbled to its lowest since 2008 as mining companies suffer through their worst start to a year in almost a decade.
Blackstone, Gaw Capital weigh bids for Ascendas Hospitality Trust: sources
Private equity investors Blackstone Group LP and Gaw Capital Partners are weighing separate bids for Singapore's Ascendas Hospitality Trust, people familiar with the matter said on Thursday.
Singapore dollar's slide approaching band limit, Barclays says
Singapore's dollar slid to a six-year low after China's central bank reduced its reference rate for the yuan by the most since August. Barclays Plc said further declines are set to slow as the island-state's currency is probably close to the bottom of the central bank's policy band.
George Soros sees crisis in global markets that echoes 2008
Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.
The STI Today
Singapore shares close sharply weaker after China stocks plunge 7%
The Straits Times Index opened in the red and headed south throughout, finishing with a 74.36 points or 2.7 per cent loss at 2,729.91, bringing its four-day loss to 153 points or 5.3 per cent for 2016. It was the lowest close in about three and a half years.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Trade, TikTok, Taiwan: Blinken faces tough talks in China
Australian inflation boosts case for higher-for-longer rates
The American small-business tyrant has a favourite political party
China’s prices are just too low for buyers to sweat about tariffs
Japan’s corporate service inflation perks up in March
New Zealand first-quarter imports fall amid sluggish economy