U.S. stocks edged lower on Monday after an unexpected quarterly loss from Wachovia Corp dragged down the financial sector, overshadowing strong gains in energy companies as oil closed at a record.
Stocks and factors to watch:
- Singapore Exchange, Asia's second-biggest listed bourse, reported net profit of S$101.5 million ($75 million) as trading volumes slowed due to weakness in global markets. [ID:nSIN142889]
- Singapore Press Holdings, Southeast Asia's biggest newspaper publisher, said its quarterly profit fell 6.3 percent due to a sharp drop in investment income coupled with higher costs, and warned it may suffer from a slowing economy. [ID:nSIN139384]
- Shipbuilder and repair firm Cosco Corp (Singapore) plans to quote some future contracts in Chinese yuan and euros and the company has yet to receive initial payment for seven vessels valued at $280 million, Cosco said in response to queries from the stock market. [ID:nSN4E81891]
- Private equity firm MBK Partners said it has extended a deadline for shareholders to accept its takeover offer for drug company AsiaPharm for another eight days to last until April 22. [ID:nSP249135]
- Singapore's benchmark Straits Times Index fell 2.68 percent to 3,042.96 points on Monday.
- The Dow Jones Industrial Average lost 0.19 percent to 12,302.06 points and the Nasdaq Composite Index lost 0.63 percent to 2,275.82 points.
(Reporting by Tan Wei Xin; Editing by Jan Dahinten)
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