Singapore bourse upbeat over progress in Greece crisis, climbs 24 points
Markets continued to gather momentum on Tuesday, as investors are cheered by constructive Greece debt talks which could put an end to the deadlock on the crisis altogether. Singapore bourse climbed 24.65 points, or 0.74 per cent, to 3,339.78.
Singapore May consumer prices down 0.4%, in 7th straight month decline
Consumer prices in Singapore dipped 0.4 per cent year-on-year in May, moderating from a 0.5 per cent decline in April, on account of the higher cost of private road transport, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said on Tuesday. Economists polled by Reuters had expected headline inflation, or the CPI All-Items inflation, to match April's 0.5 per cent fall, which was the biggest drop since late 2009.
Singapore retail rents weaken again in Q2 as occupancy rates decline: DTZ
Retail rents dipped in the second quarter of 2015 as slowing retail sales and visitor arrivals led to a negative net absorption of 270,000 sq ft of retail space islandwide for the first quarter of this year, DTZ Debenham Tie Leung (SEA) said in a report on Tuesday.
Orchard and Scotts Road recorded a negative net absorption at 80,000 sq ft, while other other city areas saw a negative net absorption of 170,000 sq ft. Suburban areas registered a lower negative net absorption, at 20,000 sq ft.
Australian home prices heat up, Sydney all but ablaze
Australian house prices have risen for the 10th straight quarter led by another outsized gain in Sydney, adding to concerns about an overheating market and diminishing affordability in the city. Tuesday's data from the Australian Bureau of Statistics showed prices across all the major cities rose 1.6 per cent in the three months to March, lifting annual growth to 6.9 per cent.
China, Japan factories slow to respond to stimulus
China's mammoth manufacturing sector showed some tentative signs of stabilising in June, according to a non-official survey, without finding the momentum needed for a lasting recovery in the world's second-largest economy.
Optimism appeared in short supply as firms surveyed by HSBC/Markit reported the sharpest reduction in hiring intentions for six years, regardless of Beijing's efforts to kick-start activity through policy stimulus.