Daily Debrief: What Happened Today

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Asian markets crash after US inflation hits 40-year high, Fed rate hike hangs in balance

STOCK markets across South-east Asia tumbled on Monday (Jun 13) after news that the US inflation rate in May hit a 4-decade high on Friday, which has in turn put pressure on the US Federal Reserve.

Entire floor at Suntec City Tower 2 sold for S$38.8m

AN entire floor at Suntec City Tower 2 has been sold for S$38.8 million or a record-breaking S$3,300 per square foot (psf), marketing agent Huttons announced on Monday (Jun 13).

Singaporeans shy away from skilled trades jobs, citing poor pay and prospects: poll

SINGAPOREANS are more sceptical than the rest of the world about the career prospects of skilled tradesmen – even though they believe there is a shortage of such workers, according to a survey released on Monday (Jun 13).

Frasers Property unit to privatise FHT at S$0.70 per stapled security

FRASERS Property Hospitality Trust Holdings, a wholly-owned subsidiary of Frasers Property, is proposing to privatise Frasers Hospitality Trust through a trust scheme of arrangement.

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Daily Debrief: What Happened Today

Tesla lays off Singapore country manager after Elon Musk warns of global job cuts

TESLA Singapore’s country manager has been laid off as part of global job cuts that chief executive Elon Musk has warned about in recent weeks over worries about a coming recession.

The STI today

Singapore stocks drop 1.33% along with regional key indices

SINGAPORE’s stock market was in the red on Monday (Jun 13), alongside most regional key indices that were savaged by fears of bigger policy rate hikes by the United States and China’s possibly re-imposing new lockdowns to stem the coronavirus.