Markets highlights

  1. Indonesia's foreign exchange reserves have fallen to US$103 (S$144.2) billion, the central bank governor told Parliament yesterday, Reuters reported. It is possible that the reserves were used to defend the rupiah.
  2. Standard Chartered Bank shares fell as much as 3.8 per cent, after a Financial Times report yesterday said that the bank had dealt with Iranian clients in potential breach of United States sanctions.
  3. China's economy is not as weak as it may look, according to a private survey that says it is a myth the country's slowdown is intensifying. This finding comes from the China Beige Book survey, modelled after a similar one in the US.
  4. KS Energy plans to issue $7.5 million worth of 6 per cent convertible bonds, due next year, to a regional private equity investment fund . The proceeds are for general working capital and to refinance debts.
  5. The Competition Commission of Singapore's approval of the alliance between Tigerair and Cebu Pacific will enable more passengers to enjoy Tigerair's South-east Asia and India connections, and Cebu Pacific's reach across the Philippines and North Asia.
A version of this article appeared in the print edition of The Straits Times on September 22, 2015, with the headline 'Markets highlights'. Print Edition | Subscribe