Wall Street stocks rocketed higher on Wednesday, boosted by a strong performance by US presidential candidate Joe Biden in the Super Tuesday primaries and extending a run of volatility amid coronavirus worries. US indices last week suffered their biggest weekly losses since 2008. The roller-coaster continued this week, with stocks surging on Monday and plunging on Tuesday before Wednesday's rally recovered some of the ground. The Dow Jones Industrial Average finished the session up 4.5 per cent at 27,090.86, a gain of almost 1,200 points, recovering the 800 points lost on Tuesday.

Investors  piled in on Singapore real estate investment trusts (S-Reits) after the US Federal Reserve's 50-basis-point emergency rate cut to boost confidence in the economy amid the Covid-19 outbreak.

Magnus Energy Group has filed a lawsuit against seven former directors and officers, it said in a statement to the Singapore Exchange on Wednesday. The Catalist-listed company said the writ of summons filed on March 3 is to recover damages as a result of the defendants’ alleged breaches of their duties and obligations to the company, as well as their alleged breaches of trust in respect of its assets.

Catalist-listed property player Astaka has said that it was not aware of any concerns which shareholders and the Singapore Exchange (SGX) should be made aware of in relation to the sspate of cessations of executives and directors in the past month.

Hyflux said it needs to undertake a "reallocation exercise" for the pot of money set aside by Utico to pay professional advisers' fees under the proposed restructuring deal.

Tee International has been asked to furnish documents to the Commercial Affairs Department (CAD) and provide assistance in investigations, after it released a summary on former group chief executive having admitted to taking company funds for personal use.

United Airlines tightens its belt as coronavirus hits demand. diminished demand for flying due to the coronavirus epidemic, United Airlines said Wednesday it is putting a freeze on new hiring and delaying planned salary increases.

The coronavirus outbreak has already disrupted travel and access to goods for US industry, and businesses nationwide sounded the warning that things could get worse, the Federal Reserve said Wednesday.

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