Market highlights

1 Keppel-KBS US Reit started trading at 2pm yesterday. Units opened at 89.5 US cents and closed at 89 US cents, above the IPO price of 88 US cents. About 15.4 million units were traded.

2 Real estate developer Yanlord Land has acquired an 80 per cent stake in Chongzhou Yanlord Land for 321 million yuan (S$67 million).

3 OCBC Bank said it is offering a new way of buying health insurance through digital channels. It has rolled out Early Cancer Care, the first health insurance product sold through OCBC's mobile and Internet banking channels.

4 Real estate firm Fragrance Group reported a 35 per cent year-on-year jump in its net profit for its third quarter.

Net profit climbed to $4.2 million for the quarter ended Sept 30. Turnover was up 70 per cent to $56 million.

5 Snapchat parent Snap Inc said that Chinese tech giant Tencent has taken a 12 per cent stake, in a sign of confidence in the social network which has delivered disappointing results since its share offering this year.


A version of this article appeared in the print edition of The Straits Times on November 10, 2017, with the headline 'Market highlights'. Subscribe