Hopes that the economy-crushing coronavirus pandemic might be easing sent Wall Street climbing sharply on Monday, with all three main indices higher at the close of trading. The Dow Jones Industrial Average powered more than 1,600 points higher, a gain of 7.7 per cent, to close at 22,679.99 after New York Governor Andrew Cuomo said the death rate in the hardest-hit US state was "effectively flat" for the past two days even as he extended a lockdown until the end of the month. The broad-based S&P 500 closed at 2,663.68, a gain of 7.0 per cent, while the tech-rich Nasdaq won 7.3 per cent to finish at 7,913.24.

CapitaLand has reopened all its malls in China previously shut due to the country's coronavirus lockdown. The group's four malls in Wuhan - the epicentre of the outbreak - reopened on April 2 after receiving clearance from local authorities.

UMS Holdings said on Monday that its factories in Penang and California have resumed operations, but that it will need to follow strict measures put in place by the authorities in light of the Covid-19 outbreak.

Suntec City said it is waiving the rents for its mall tenants for a month, in line with the government's call to boost support for businesses and protect jobs during the circuit-breaker period.

Oxley Holdings said on Monday that it has sold 73 per cent of its Singapore development portfolio, which comprises 3,923 units in total. The group is set to recognise S$2.4 billion in secured revenue from its Singapore projects. The sum will be recognised over the next two years.

ComfortDelGro Group's board and senior management will take a voluntary cut in directors' fees and pay respectively amid the Covid-19 crisis.

DBS will progressively close 29 DBS/POSB branches islandwide over the course of about one week, in light of stricter safe distancing measures to reduce the community spread of Covid-19.

Thakral Corporation has acquired 4.5 hectares of prime land in Australia's New South Wales through its GemLife joint venture. The land will be developed into a lifestyle resort for over-50s, expanding GemLife’s portfolio to eight resorts.

American taxpayers bailed out the major banks during the 2008 global financial crisis that they helped create. But more than a decade later, amid an unprecedented economic shock, those firms now say they are strong enough to continue paying dividends to shareholders.

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