Singapore "narrowly averted" a technical recession in the third quarter, which economists commonly define as two consecutive quarters of decline in gross domestic product.
The revised reading of the third quarter GDP data may even change the scenario to a technical recession.
- Biosensors International Group said on Wednesday it has received an offer from Citic Private Equity Funds Management Co for the proposed amalgamation of the group with its substantial shareholder, CB Medical Holdings.
- Singapore Post has appointed Japan's Shimizu Corporation as the main contractor to undertake the redevelopment and office works at its flagship SingPost Centre for about S$150 million.
- Capitaland Commercial Trust (CCT) on Wednesday reported a 2.4 per cent rise in distribution per unit (DPU) to 2.14 Singapore cents for the third quarter ended Sept 30, 2015, on the back of higher rents.
- OLAM International said on Wednesday it has secured a revolving credit and term-loan facility amounting to US$1 billion, which it will use to refinance debt as well as meet its working capital and general corporate funding needs.
- European shares edged higher in early deals on Wednesday, buoyed by a fresh batch of company earnings reports ahead of a Federal Reserve policy decision later in the day.
- Hong Kong shares fell on Wednesday, following mainland China shares lower after a bout of late afternoon profit taking. Hang Seng index ended down 0.8 percent at 22,956.57 points, while the China Enterprises Index lost 1.5 percent to 10,558.47.
- China stocks fell on Wednesday, with a late afternoon bout of profit taking pushing major indexes deep into the red. "The fall today remained propelled by profit-taking after the gains in recent weeks," said Xiao Shijun, an analyst at Guodu Securities in Beijing. "With lots of reforms in the pipeline and official economy-boosting steps taken, the market will remain in a rebounding track in the medium term despite short-term volatility."
- Tokyo stocks ended 0.67 per cent higher on Wednesday as Japan's latest earnings season gets into full swing and investors await the outcome of a Federal Reserve policy meeting.
- South Korean shares edged down on Wednesday as investors adopted a wait-and-see stance ahead of the US Federal Reserve policy decision later in the day. Korea Composite Stock Price Index (KOSPI) ended down 0.1 per cent at 2,042.51 points.
- Australian shares recouped early losses on Wednesday after surprisingly subdued inflation reinforced speculation of more monetary easing and lower bond yields, making stocks a more palatable asset.
- Asian stocks mixed, dollar strengthened against the euro and Australian dollar as traders wait on Federal Reserve commentary.
- Oil prices barely moved in Asia Wednesday as investors waited for a report on US crude inventories and the conclusion of a Federal Reserve policy meeting hoping for an idea about its plans for interest rates.