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Daily Debrief: What Happened Today
The selloff that struck the US overnight ripped through Asian stock markets on Thursday, with indexes in Japan and Hong Kong tumbling at least 3 per cent.
Singapore's central bank is keeping a close eye on the property market after the city-state took a "decisive set of measures" three months ago to cool things down.
American telecommunications company CenturyLink on Thursday said it is opening a new security operations centre (SOC) in Singapore by early 2019 as part of efforts to better address the cybersecurity needs of its Asia-Pacific enterprise customers.
Singapore and Indonesia on Thursday signed an agreement to promote and protect investments, with the treaty promising Singapore companies operating in Indonesia protection and access to international arbitration in the event of investment disputes. Indonesian companies operating in the Republic will similarly enjoy investment protection.
Singapore topped a ranking as the overall best place for expatriates to live and work for a fourth straight year, beating New Zealand, Germany and Canada. But the highest expat salaries are found elsewhere - in Switzerland, the US and Hong Kong - according to HSBC's latest annual Expat Explorer report.
The STI today
Share prices in the Singapore bourse skidded with the key Straits Times Index tumbling 2.69 per cent following the overnight rout in US stocks that saw an extreme sell-off across Asian equity markets.