1 United States markets were heading for a positive open as Europe's markets returned to positive territory and China's central bank cut interest rates and lifted the amount of funds available for bank lending. Crude oil prices also rebounded from a six-year low.
2 Goldman Sachs has downplayed the risk of global recession in a report. The bank said growth in developed markets remains intact and relatively shielded from weakness in China and emerging markets.
3 The world's largest mining company, BHP Billiton, reported a 52 per cent plunge in full-year profit owing to the decline in commodity prices. It trimmed its long-term forecasts for steel demand and output in China.
4 Palm oil slumped for a fifth day to trade near a bear market, given the threat of oversupply. China's economic slowdown may curb demand for raw materials. The futures contract lost 0.5 per cent to RM1,906 per tonne yesterday.
5 Creative Technology saw losses increase by 53 per cent to US$33.4 million (S$47 million) for the year ended June 30. Revenue fell 14 per cent to US$99.5 million. Sales in the key markets of Asia Pacific, Americas and Europe were hit by uncertain conditions.