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Market View: Selloff in Asia on stretched tech valuations, South Korea down as much as 6.2%, Tokyo’s stock index tumbles 4.5%; China confirms suspension of 24% tariff on US goods, retains 10% levy; Chinese Premier Li Qiang says China’s economy is expected to surpass 170 trillion yuan in five years; SIA Engineering, Manulife US Reit to watch
Singapore shares dipped today to track declines seen in the region. The Straits Times Index was down 0.33% at 4,408.27 points at 1.49pm Singapore time, with a value turnover of S$1.33B seen in the broader market. In terms of counters to watch, we have SIA Engineering, after the company posted a 13.5 per cent improvement in net profit to S$40.4 million for the second quarter ended September. Elsewhere, from more on the major sell-off seen in Asia today, to how China said it would extend the suspension of an additional 24 per cent tariff on US goods for one year, keeping a 10 per cent blanket…
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