Fears about an Italy contagion fizzled as Asian stocks looked set to rebound on Thursday, US stocks closed higher and European stocks recovered. Gold continues to hold steady. However trade war remains a concern, with the White House not planning on extending the European Union exemptions from steel and aluminum tariffs. Oil prices rebounded sharply on Wednesday, on the back of a report that Saudi Arabia, other OPEC states and non-OPEC allies aim to stick to a global pact on cutting oil supplies until the end of 2018.

BREAKING NEWS

With the rally across most US indices, The Russell 2000 added 1.5 percent to finish at 1,647.99, a record high for the small-cap stock index.
 
OECD has predicted the current economic expansion could run for two more years. Oil and trade are the mentioned major risks.
 
China is reportedly looking to line up other countries against the U.S. in a pending trade war after the White House announced final list of $50 billion in imports that would be subject to 25 percent tariffs by June 15.
 
Uber CEO Dara Khosrowshahi says the company is on track for a 2019 IPO.
 
Roxy Pacific Holdings Limited acquire a freehold residential site at 27 Moulmein Rise at a purchase price of S$106mn. The site has an estimated total land area of 22,198 sq ft and can be redeveloped into a 20-storey residential apartment with a maximum permissible gross floor area of 72,003 sq ft.
 
StarHub Limited faces a pay-TV price spat with American cable content provider Discovery. Discovery has accused StarHub of being "not prepared to pay fair value" for its 11 English-language channels, which include Animal Planet, Eurosport and the Food Network.
 
Yangzijiang Shipbuilding (Holdings) Limited has started a share buyback of its company shares, repurchasing 5,000,000 shares from open market, for S$4.5 million. This comes as the Group’s share price declined by 13% over the past 5 trading days.
 
Accrelist Limited announced that it has formalised merchant agreements with Long Beach Seafood Restaurant, Sim Lim Square, Hong Kong Tea House and China Commodity Market to offer Accrelist-owned point-of-sale terminals at their outlets using Tencent’s WeChat Pay.