PRE-MARKET TAIWAN & SINGAPORE STOCK NEWS: Cathay Financial Holding (2882 TT) founding family member Tsai Chen-yu allegedly attacked Cathay United Bank's chairman; tech stock and Emini Nasdaq 100 rebound after strong Micron earnings
TAIWAN
Cathay Financial Holding (2882 TT) - Co. is facing fallout after founding family member Tsai Chen-yu allegedly attacked Cathay United Bank chairman Kuo Ming-jian at its Taipei headquarters. (Taipei Times)
Tech - Tech stocks rebound overnight and Emini Nasdaq 100 is up around 1.9% following strong Micron earnings.
Geopolitical - US State Department said it is concerned by reports that Chinese Coast Guard vessels operating in waters east of Taiwan harassed commercial ships. (Newswires)
Data Recap
- Taiwan Industrial Production YY (May) 11.8% (Prev. 14.2%, Rev. 14.9%)
SINGAPORE
Frasers Property (FPL SP) - Co. proposed a SGD 2.1bln optimisation of its Frasers Hospitality Trust portfolio following the trust’s privatisation last year. (Business Times)
OUE REIT (OUEREIT SP) - Co.’s wholly owned OUE Hospitality Sub-Trust agreed to sell Crowne Plaza Changi Airport for SGD 500mln to a Tokyo Century (8439 JT)-OUE Limited (OUE SP) JV. (Business Times)