Market highlights

1 With low oil prices cutting operating costs, AirAsia chief executive Tony Fernandes said the budget carrier is again ready to expand in South-east Asia and is eyeing Vietnam and the Philippines, Reuters reported.

2 The shipping industry is suffering its worst downturn since the 2008 financial crisis, making mergers key to riding out the tough period, China Cosco Shipping Corp said, according to Reuters.

3 Consumer products giant Nestle missed forecasts with a 4.2 per cent rise in annual underlying sales. The group behind Nescafe instant coffee and Kit Kat chocolate bars has been slow to adjust to changing consumer demands in China.

4 SGX-listed China Yongsheng expects to report a loss for the financial year ended Dec 31, owing to a substantial drop in sales volume caused by the slowdown in construction activities.

5 SGX-listed Changtian Plastic & Chemical expects to report a loss for the financial year ended Dec 31, owing to an impairment charge recorded for the group's assets.

A version of this article appeared in the print edition of The Straits Times on February 19, 2016, with the headline 'Market highlights'. Print Edition | Subscribe