- SingPost shares rose one cent to $1.915 on a hefty turnover of 12.4 million units amid news that Alibaba Group is raising its stake in the postal group to 14.51 per cent. SingPost is focusing on its e-commerce business and is working with Alibaba on new initiatives.
- Stats ChipPac shares fell five cents or 9.7 per cent to 46.5 cents as the counter began trading ex-entitlement. Buyers of the shares yesterday were not entitled to the capital reduction and distribution exercise relating to its stake in its Taiwan subsidiaries.
- Medical supplies firm QT Vascular has called off a $12 million convertible bond deal it made with an investment fund and three private investors. The shares tanked on Tuesday when the news came out. They have clawed back some of the losses.
- City Developments has said the e-applications for its joint venture executive condominium project, The Brownstone, in Sembawang, will start today.
The chaos and panic-selling of the China market can become a problem for an emerging Asia already reeling from the Greek debt crisis, says OCBC China economist Tommy Xie.