The coronavirus-induced sell-off reached a new low on Wednesday as Wall Street grappled with the rapid spread of the virus as well as uncertainty around a fiscal response to curb slower economic growth resulting from the outbreak.

The Dow Jones Industrial Average tumbled 1,464.94 points, or 5.9%, to close at 23,553.22. The 30-stock average closed in a bear market, down more than 20% below the record close set only last month and putting to end an expansion that started in 2009 amid the financial crisis.

MAINBOARD-listed telco StarHub has inked a deal to acquire, through an indirect subsidiary, a significant stake in a Malaysian information and communications technology company for S$82.1 million. The company said in a statement on Wednesday that its Malaysia-based subsidiary Taman Kenyir Holdings will pay the initial consideration for 88 per cent of Strateq's shares.

MAINBOARD-listed Q&M Dental Group is joining hands with two Chinese companies to establish a surgical mask-manufacturing company, the company said in an exchange filing on Wednesday evening.

THE initial public offering (IPO) for United Hampshire US Reit, the first retail real estate investment trust (Reit) with US exposure here, was oversubscribed, it said in an exchange filing on Wednesday. The Singapore public offer attracted 848 valid applications for 10.3 million units, while 7.5 million units were available to the public for subscription, representing a subscription rate of 1.4 times.

SINGAPORE Press Holdings (SPH) has commenced a £10.6 million (S$18.9 million) asset enhancement initiative to refurbish nine properties in its UK student accommodation portfolio.

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