Daily Debrief: What Happened Today
Stories you might have missed
HDB launches 8,748 new flats in May
A total of 8,748 new HDB flats were launched for sale on Thursday across 25 towns or estates.
Quick take: New accounting rule will deliver greater transparency in insurance sector
A new and radical international accounting standard for insurance contracts which seeks to make it easier for investors to compare how much insurers earn from policies will have a significant impact to Singapore-based insurance organisations.
Noble Group lifeline depends on bank support for US$2b loan
Noble Group's stock and bonds rose on Thursday after people familiar with the matter said the embattled commodity trader has approached lenders to replace a credit facility with a new US$2 billion loan. Now investor focus shifts to bank support for that lifeline.
Joint bid from HK's Logan Property, China's Nanshan wins Stirling Road residential site
A joint bid of slightly above S$1 billion from Hong Kong-listed developer Logan Property Holdings and Chinese developer Nanshan Group have emerged top among 13 bidders for a residential site at Stirling Road.
Corporate Earnings
The STI Today
Singapore stocks finish weaker, though STI resilient in face of US sell-off
The resilience displayed by the Straits Times Index (STI) on Wednesday to political upheaval in Washington and turmoil on Wall Street extended into Thursday when the index first plunged 35 points to an intraday low of 3,189 but ended with a net loss of just 2.44 points at 3,221.66 in the wake of the US market's largest sell-off in about nine months.
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
US inflation increases moderately in February; consumer spending surges
Fed’s balancing act could see June rate cut in play even with sticky inflation
China’s red carpet draws CEOs but few expect their money to follow
Australia wants businesses to diversify after China scraps wine tariffs
Japan FX chief calls yen’s slump unusual, vows to act if needed
Trump’s meme stock is skyrocketing but for how long?