Bizview: Today's top business news

Greece default fears hit Asian markets, STI drops 40 points to close below 3,300 mark

Widespread fears over the seemingly inevitable Greece default knocked down Asian markets as expected on Monday (June 29), and outlook for the week ahead may be equally bleak, analysts warned.

In a sign that things are turning for the worse for Greece, the government has shut down banks for a week for capital control. The debt-ridden country now approaches its deadline to repay its €1.54 billion (S$2.32 billion) debt by end of tomorrow - failing which Greece will default and may have to exit the Eurozone.

14 industrial sites to be launched for second half of 2015

A total of 14 sites were released under the Industrial Government Land Sales (IGLS) programme for the second half of this year. The Ministry of Trade and Industry (MTI) said in a statement on Monday that the 14 sites - comprising 10 in the confirmed list and four in the reserve list - will total 14.3 hectares.

HSBC falls most since May as Greece weighs on Asian banks

HSBC shares fell the most in eight weeks, pacing declines among bank stocks in Asia, as speculation mounted of a possible Greece exit from the euro region that would destabilize Europe's currency union.

HSBC, which made about a third of its 2014 revenue in Europe, lost 2 per cent to HK$70.55 as of the midday break in Hong Kong, its biggest intraday drop since May 4. Japan's Topix Banks index tumbled the most in 16 months, while Australia's four biggest lenders lost at least 2 per cent each.

Canada's Manulife seeks to raise $568 mln in Singapore IPO of U.S. assets

Canada's Manulife Financial Corp seeks to raise S$568 million through a Singapore listing of a real estate investment trust (REIT), backed by three U.S. office properties, showed a prospectus filed with the city-state's central bank.

Manulife aims to sell 694.4 million units, including cornerstone units, at S$0.82 each, making the initial public offering Singapore's biggest in a year.

China said to consider suspending IPOs amid plunge in stocks

Chinese regulators are considering suspending initial public offerings to stabilize the country's tumbling stock markets, according to people familiar with the matter.

The China Securities Regulatory Commission is meeting this afternoon with major brokerages, said another person, without saying what will be discussed. The people asked not to be identified as the regulator's deliberations are private.