US housing starts fall further; permits at two-year low. Housing starts decreased 0.9 per cent to a seasonally adjusted annual rate of 1.253 million units last month as a rebound in the construction of single-family housing units was overshadowed by a plunge in multi-family homebuilding, the Commerce Department said. Data for May was revised slightly down to show homebuilding falling to a pace of 1.265 million units, instead of slipping to a rate of 1.269 million units as previously reported.

US plans different approach in leading G7 in 2020: White House official. The Trump administration plans to adopt shorter communiques and generally revamp how the Group of Seven rich nations does its work when the United States leads the body in 2020, a White House adviser said.

IMF warns rising trade-war risk is weighing on global economy. The report comes as the Washington-based fund confronts a surge in protectionism around the world that's seen dragging on global growth, with output slowing in major economies from China to Europe and Mexico. IMF leadership also is in flux with Managing Director Christine Lagarde set to succeed Mario Draghi as president of the European Central Bank.

Oil prices fall more than 1% after US fuel inventories build. Brent crude futures were down 69 cents, or 1.1 per cent, to settle at US$63.66 a barrel. US West Texas Intermediate (WTI) crude futures fell 84 cents, or 1.5 per cent, to settle at US$56.78 a barrel. Both benchmarks shed more than 3 per cent on Tuesday. While data on Wednesday from the US Energy Information Administration showed a larger-than-expected drawdown in crude stockpiles last week, large builds in refined product inventories kept prices lower. US crude inventories fell 3.1 million barrels, EIA data showed, more than analysts' forecasts for a decrease of 2.7 million barrels.

CCT proposes raising S$220m from private placement to fund German acquisition. Of the S$220 million to be raised, the bulk - S$216.7 million - would be used to partially fund the acquisition of a 94.9 per cent interest in the holding companies of a freehold office building in Frankfurt, Germany. This acquisition was announced on Wednesday morning. About S$3.3 million, which is approximately 1.5 per cent of the private placement gross proceeds, will be used to pay the estimated transaction-related expenses, including professional fees and expenses, incurred or to be incurred by CCT in connection with this fundraising exercise.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR