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Daily Debrief: What Happened Today
The Urban Redevelopment Authority's (URA) latest flash estimates released on Friday showed that its overall private home price index fell 0.4 per cent in the second quarter of this year over the previous quarter, a smaller decline compared with the 0.7 per cent quarter-on-quarter drop in Q1 this year.
Singapore banks' exposure to foreign property loans has remained low, comprising 2 per cent of their total housing lending, the Monetary Authority of Singapore said on Friday.
The management of DTZ Debenham Tie Leung (SEA) has bought out the majority stake of over 60 per cent held by Cushman & Wakefield and relaunched the firm with its original name, Edmund Tie & Company.
Beleaguered China Fishery Group, along with more than 15 affiliates, has filed for Chapter 11 bankruptcy protection in New York, the Wall Street Journal has reported.
Bonvests Holdings has signed an agreement to sell 10 per cent of its stake in Cordlife Group to Shanghai-listed Nanjing Xinjie Kou Department Store Co for S$43.31 million or S$1.67 a share.
The STI Today
"Bad economic news is good for stocks" has been a defining mantra over the past eight years thanks to generous central bank policies which have supported risk assets, and so it was again the case this week that equities defied expert forecasts by bouncing up after Britain voted to leave the European Union in an event now etched in the collective memory as "Brexit".