U.S. stocks dropped on Thursday, as the assassination in Pakistan of Benazir Bhutto sparked fears of global unrest, while an analyst warning of larger mortgage-related write-offs pressured financial shares.
Stocks and factors to watch:
- Property and retail group Wing Tai Holdings and construction company United Engineers have submitted a joint top bid of S$288.4 million for a residential land site in Singapore, the Urban Redevelopment Authority said.
- Construction firm Tee International said it has been awarded a S$33 million ($23 million) contract to relocate and refurbish a government agency's office.
- Toll road operator China Merchants Holdings (Pacific) said it has signed a preliminary agreement with a Chinese highway bureau to invest around 1.81 billion yuan ($247 million) in two highway projects in China that would be funded by cash and debt.
- MacarthurCook Industrial, a real estate investment trust, said it intends to raise up to S$200 million by issuing new units, in order to finance the purchase of some properties.
- Singapore's Straits Times Index rose 0.12 percent to 3,477.20 points on Thursday.
- The Dow Jones Industrial Average fell 1.42 percent to end at 13,359.61. The Nasdaq Composite Index lost 1.75 percent to 2,676.79.
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