Both manufacturing and services firms are more pessimistic about their prospects ahead, going by separate surveys released on Friday (Oct 30) by the Singapore Economic Development Board (EDB) and Statistics Singapore.
Singapore's total bank lending in September fell from the previous month on declines in loans to financial institutions and general commerce, data from the Monetary Authority of Singapore (MAS) showed on Friday (Oct 30).
United Industrial Corp (UIC) has posted a 9 per cent rise in third-quarter earnings to $65.3 million. Revenue for the three months to Sept 30 was up 6 per cent at $189.4 million, due mainly to higher sales of trading properties, which rose by 25 per cent to $$65.9 million as a result of higher sales and progressive sale recognition for the group's residential projects.
Singapore's most popular short is turning into a great way to lose money. Shares of Noble Group have soared since Oct 8, when bearish bets peaked at a record 15.1 per cent of the company's outstanding shares.
Malaysia's central bank started taking in interbank US dollar deposits for the first time in September to try and slow a slide in Asia's worst-performing currency. Bank Negara Malaysia is accepting deposits in small amounts, according to a person familiar, who asked not to be identified because of company policy.
Macquarie Group cut 503 jobs in its first fiscal half, the most in three years, as chief executive officer Nicholas Moore reduced the investment bank's reliance on cyclical businesses such as trading and advisory to deliver a record profit.
The Bank of Japan on Friday (Oct 30) cut its growth outlook for the world's third-largest economy and pushed back the timeframe for reaching a key inflation target, as the country's economy stalls. The central bank said it now expected growth to come in at 1.2 per cent in the fiscal year to March 2016, down from an earlier 1.7 per cent projection.