Market highlights

1 Samsung Biologics is expected to apply for stock exchange approval this week for its initial public offering, expected by analysts to raise roughly 2-3 trillion won (S$2.4 billion-S$3.6 billion), the biggest IPO on the Seoul bourse this year.

2 Japan's Fair Trade Commission has raided the offices of's local unit on suspicion that it pressured retailers to offer products at lower prices than on rival sites, the Nikkei business daily said yesterday.

3 Fashion and luggage distributor Travelite is looking to buy a four-storey industrial building in Ubi Avenue for an estimated $19.3 million to serve as its headquarters. The property is valued at about $30 million, said Travelite.

4 China, the world's biggest producer and user of refined copper, has cut imports to the lowest level in 11 months amid low seasonal demand and swelling domestic stockpiles.

5 Opec yesterday said it has called an informal meeting of member countries for next month in Algeria to help stabilise the oil market. The meeting will take place on the sidelines of the International Energy Forum.

A version of this article appeared in the print edition of The Straits Times on August 09, 2016, with the headline 'Market highlights'. Print Edition | Subscribe