Asian bourses turned in a mixed bag of fortunes on Tuesday, as investors all round continued to keep an eye on the beleaguered China market. The Shanghai Stock Exchange Composite Index dropped 1.68 per cent, extending losses on its biggest rout in eight years.
Prices of completed non-landed private homes in Singapore fell 0.3 per cent in June from May, according to flash estimates for the NUS Singapore Residential Price Index (SRPI) released on Tuesday. While this translates into a 1.9 per cent price decline over the first half of this year, June's price decline was half of May's 0.6 per cent drop over April.
Mainboard-listed Parkway Life Reit announced on Tuesday a 15.6 per cent rise in distribution per unit (DPU) to 3.35 cents for the second quarter ended June 30, 2015, from 2.90 for the year-ago period. Income available for distribution grew a corresponding 15.6 per cent to $20.27 million from $17.54 million a year ago.
Indonesia is at the end of a commodities boom and in the midst of a "cyclical downturn", but investors who brave uncertainty and venture early into the country will "reap great profit", Indonesian President Joko Widodo said on Tuesday.
Junk bond investors earned twice as much in Singapore as they did in Indonesia this year as private banks sought haven in more developed markets. US dollar notes from Singapore have gained 7.9 per cent so far this year, the best among regional peers, according to a Bank of America Merrill Lynch index.
A high-level delegation from the Singapore Chinese Chamber of Commerce and Industry (SCCCI) will travel to Johor for a day trip on Wednesday with an objective to deepen relations and be updated on latest developments in Iskandar Malaysia.
Fear of falling prices in a debt-laden world has returned to unnerve investors and central banks alike, as the slide on oil and commodity markets that set off a deflation scare last year has resumed with a vengeance.
Thailand's finance ministry on Tuesday cut its economic growth forecast for the third time this year due mainly to shrinking exports, a big obstacle to the trade-dependent country regaining traction. The ministry now expects the economy to grow 3.0 per cent this year, instead of the 3.7 per cent seen three months ago.