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Daily Debrief: What Happened Today
Singapore retail sales moved up 4.6 per cent in September year on year, boosted by sales of motor vehicles. Excluding motor vehicles, retail sales were down 1.4 per cent.
City Developments Ltd, Singapore's second-largest developer, called on the government to review property curbs "as soon as possible" after home prices dropped for an eighth consecutive quarter, matching the longest losing streak in 13 years.
The Life Insurance Association (LIA) Singapore on Friday said more initiatives will be introduced "in due course" including the yield to maturity to be presented in the benefit illustration to give policyholders "a sense of the expected yield on their participating policies".
A boutique mortgage consultancy firm has welcomed local lender OCBC's version of a deposit-based home loan peg - 36 FDMR (fixed deposit mortgage rate) - launched last month, adding that it will give DBS a run for its money.
Malaysia's economy grew 4.7 per cent in the third quarter from a year ago, its slowest rate in over two years, but meeting analyst expectations. Its current account surplus narrowed to RM5.1 billion (S$1.66 billion) in the period from RM7.6 billion in the previous three months, its lowest since the second quarter of 2013.
- Olam posts 30% fall in Q3 net profit, to achieve free cash flow generation by 2016
- ComfortDelGro Q3 profit grows 5.4% on modest revenue gain
- Nam Cheong posts Q3 net profit plunge, defers deliveries
- Valuetronics Q2 net profit down 11.3% to HK$32.2m
- Linc Energy posts A$58.3m loss for Q1 of FY2016
The STI Today
The Straits Times Index fell continuously this week as worries mounted over the impact a December US interest rate hike would have on a slowing global economy. Friday's session - which incidentally took place on Friday the 13th - saw the STI shed 33.33 points or 1.1 per cent at 2,925.68, which brought the loss for the week to 85 points or 2.8 per cent.