Markets highlights

1. Regional currencies were weak with the Singdollar hitting a fresh low against the greenback. The rupiah fell the most in two weeks as foreign reserves dropped to a 17-month low, while the ringgit also declined.

2. Oil fell on fears over lack of demand from the Chinese economy. The US Labour Day holiday helped keep trade thin. Brent for October settlement lost as much as 83 US cents to US$48.78 a barrel on the London-based ICE Futures Europe exchange.

3. Faced with a severe fall in the price of oil, energy giant ConocoPhillips said it will trim its workforce by 10 per cent in a second round of lay-offs, Reuters said. Most of the 1,800 jobs will be lost in North America.

4. Chinese ride-hailing service Didi Kuaidi is set to raise about US$3 billion (S$4.3 billion) through its latest fund-raising round, Reuters reported, just as funding at the Chinese unit of rival Uber reaches US$1.2 billion. Temasek has a stake in Didi Kuaidi.

5. Global Logistic Properties (GLP) announced new lease agreements with Best Logistics and SF Express in China. The customers are expanding with GLP in five cities to cater to increasing demand for express delivery services due to e-commerce sales.

A version of this article appeared in the print edition of The Straits Times on September 08, 2015, with the headline 'Markets highlights'. Print Edition | Subscribe