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Daily Debrief: What Happened Today
As expected, certificate of entitlement (COE) premiums rose strongly in Wednesday's bidding exercise after most dealers reported good sales during the two-week period since the previous tender.
Sembcorp Marine (SembMarine) on early Wednesday morning said its subsidiary, PPL Shipyard, will regard the termination by Marco Polo Drilling (I) of the US$214.3 million newbuild contract as "repudiatory breach of the contract".
Hong Kong-based Gaw Capital Partners has acquired the 308-room BIG hotel in Singapore for S$203 million. The 8,800 square metre hotel is located in central Singapore.
Singapore Exchange Ltd will open a dark pool for bonds as the 42-year-old bourse prepares to enter the institutional fixed-income trading business for the first time next year.
With oil, copper and coal trading around their lowest levels since the global financial crisis, some investors are betting that the bottom may be close for these critical commodities and have increased their long positions in the market. Yet those hoping for a similar strong recovery seen in 2009 need to tread with care.
At least two people were killed and five arrested in a predawn raid targeting the suspected mastermind of last week's terrorist violence, as an international manhunt led investigators back to the very Paris suburb where the first of the attacks took place.
The STI Today
Tuesday's rise in the Straits Times Index proved very short-lived as the selling resumed on Wednesday, the index dropping 30.7 points or 1.05 per cent to 2,886.08 for its eighth loss in nine sessions. Weakness in the Dow futures which signalled a soft day for Wall Street on Wednesday combined with pressure in Hong Kong and China to drag prices here lower, resulting in an advance-decline score excluding warrants of 115-271.