Market highlights

1 HSBC has changed its pay policy for executive directors, lowering the maximum amount they can could earn by 7 per cent, Reuters reported.

2 Swing Media Technology will issue about 6.9 million shares at 53.3 cents apiece, a 10 per cent discount to the average price for trades on April 21, the day before the placement agreement was signed.

3 Mainboard-listed LH Group, which designs and installs building facades, expects to incur a loss for the first quarter ended March 31.

4 The SPDR Straits Times Index exchange-traded fund is the second-most active ETF on the SGX this month. It is also the third-best performing ETF, with a total return of 3.5 per cent.

5 Bonvests Holdings has increased its investment and shareholding in its Singapore Tunisian Investment Company unit, to lift its working capital.

A version of this article appeared in the print edition of The Straits Times on April 23, 2016, with the headline 'Market highlights'. Subscribe