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Daily Debrief: What Happened Today
The first bidding exercise for the new certificate of entitlement (COE) quota resulted in the small and big car premiums softening, as most dealers reported slower sales over the past week. But they add that things could change after this weekend's TheCars@Expo vehicle sales event.
Singapore Exchange Ltd chief executive officer Loh Boon Chye says his top priority is to restore confidence in Southeast Asia's biggest stock market, where turnover is yet to recover from a mystery penny-stock crash more than two years ago.
CapitaLand has ceased negotiations regarding its earlier plan to acquire Asia Square Tower 1, the real estate developer said on Wednesday morning.
The presidents of Taiwan and China will meet in Singapore on Saturday to discuss cross-strait issues, Taiwan's presidential office said, in the first such meeting of leaders from the two sides since the Chinese civil war ended in 1949.
A private-equity arm of Citic Group Corp. agreed to buy the rest of Singapore-based medical device maker Biosensors International Group Ltd. for about S$1.1 billion. Biosensors shares surged.
- CapitaLand's Q3 net profit up 48.3% to S$192.72m
- Yangzijiang's Q3 net profit falls 16% to 680.67m yuan
- Jardine Cycle & Carriage reports lower Q3 profit
- Haw Par Q3 profit grows 31% on bounding healthcare segment
As China's growth sputters, the troubles at Standard Chartered Plc are another bad omen for what were once Asian economic darlings.
The STI Today
The local market finished 1.4 per cent higher on Wednesday, with the Straits Times Index gaining 40.92 points to 3,040.48. The blue-chip index got a boost as concerns over China's slowdown eased somewhat, after the Chinese government unveiled a five-year plan to bolster the economy.