The tides have turned, or so it seemed, as China shares bounced back yesterday on the back of new government measures to stop panic-selling which had led as stocks to crash in the last three weeks. Taking its cue from China's rebound, Hong Kong's Hang Seng Index also jumped 3.73 per cent, while the Nikkei 225 in Japan edged up 0.6 per cent. Singapore shares, however, were left out of the party.
Singapore Press Holdings (SPH) reported a 9.6 per cent increase in net profit to $98.2 million in the third quarter as higher property and other non-media revenue offset weaker performance from its media business. Discipline in maintaining its cost base also helped improve earnings for the three months to May 31.
The CPF Advisory Panel will be holding two focus group discussions to gather public views on alternative investment choices, the Ministry of Manpower said on Thursday. The sessions, on July 29 and Aug 15, will seek views on how to provide greater flexibility for CPF members who wish to seek higher returns and are prepared to take bigger investment risks, through private investment plans.
Malaysia's central bank held its overnight policy rate at 3.25 per cent on Thursday, keeping policy steady while the Southeast Asian country and its markets were rocked by corruption allegations against Prime Minister Najib Razak.
"For Malaysia, the latest indicators point to continued expansion of the economy in the second quarter, albeit at a more moderate pace," Bank Negara Malaysia's (BNM) monetary policy committee said in a statement.
Greek banks have enough liquidity in cash machines to serve the public until Monday, Louka Katseli, head of the Greek bank association said on Thursday. Greek authorities have extended a shutdown of the country's banks until July 13, restricting cash withdrawals to 60 euros per day. The closure was enforced on June 29, following the collapse of aid negotiations between Greece and international creditors.