Market highlights

1. Gold dropped after the Federal Reserve's interest rate hike, curbing the appeal of owning precious metals. Gold for immediate delivery was trading around US$1,066.59 an ounce.

2. Oil traded near the lowest price since February 2009 as US crude inventories surged and the Federal Reserve raised interest rates for the first time in almost a decade.

3. Shareholders of Thai developer Golden Land approved the acquisition of a 29.5 per cent stake by Frasers Centrepoint (FCL). The stake, worth about $196 million, is part of FCL's move to grow in Thailand's property sector.

4. Chaswood Resources is placing out shares to Posh Corridor and Mr Andrew Roach Reddy at an issue price of 51 cents, amounting to about $1.21 million.

5. Triyards is moving beyond the offshore oil and gas sector with US$45.5 million (S$64.4 million) in contracts. One is building a scientific research vessel for client Taiwan Ocean Research Institute and a Taiwan government agency.

A version of this article appeared in the print edition of The Straits Times on December 18, 2015, with the headline 'Market highlights'. Print Edition | Subscribe