Following are some company-related and market news which could have an impact on the local market.
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INSTRUMENT LAST PCT CHG NET CHG S&P 500 1432.56 -0.62% -8.920 USD/JPY 78.08 -0.12% -0.090 10-YR US TSY YLD 1.6768 -- -0.003 SPOT GOLD 1758.94 -0.17% -3.000 US CRUDE 91.22 -0.03% -0.030 DOW JONES 13344.97 -0.95% -128.56 ASIA ADRS 117.41 -0.60% -0.71
GLOBAL MARKETS-Shares, oil retreat on global growth fears
SE ASIA STOCKS-For risk-reward, look beyond Southeast Asian equities STOCKS TO WATCH -- FRASER AND NEAVE LTD , THAI BEVERAGE PCL
- The Fraser and Neave board said a Thai takeover offer for the Singapore drinks and property group is "not compelling but fair". However, in a circular issued by F&N on Wednesday evening, directors who are shareholders said they did not intend to accept the offer -- putting pressure on the bidders to raise the price.
-- OVERSEAS UNION ENTERPRISE LTD
- Property developer Overseas Union Enterprise confirmed reports that it had made a S$1.4 billion bid for the hospitality and serviced residence business of Fraser and Neave
It said the offer was in line with its long-term goal of growing its business and hospitality was one of its core areas.
-- ARA ASSET MANAGEMENT LTD
- Dynasty Real Estate Investment Trust, which is managed by a unit of property fund manager ARA Asset Management and owns Chinese assets, is offering 893.9 million and 901.3 million units to investors at 4.40 to 4.70 yuan a unit, according to a prospectus filed on Wednesday for what will be Singapore's first yuan-denominated initial public offering.
-- SINGAPORE TELECOMMUNICATIONS LTD
- Singapore Telecommunications said on Wednesday it has secured the broadcast rights to all 380 Barclays Premier League matches for the next three seasons starting August 2013.
-- SINGAPORE TECHNOLOGIES ENGINEERING LTD
- Singapore Technologies Engineering said its aerospace arm has secured new contracts worth about S$590 million in the third quarter.
> Nikkei falls, heading for 3rd straight day of loss
> Blue chips Chevron, Alcoa lead Wall Street's sell-off
> Prices gain in thin volume on global growth fears
> Euro, Aussie fall as worries over Spain
> Gold ends flat as stimulus fades, euro zone eyed
> Oil falls as economic worries, stock market pressure
> Key political risks to watch in Singapore
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(Reporting by Charmian Kok; Editing by Chris Gallagher)
Keywords: MARKETS SINGAPORE STOCKS/