The “Great Lockdown” recession will be worse than 2009, according to the IMF. Trump halts U.S. funding for the WHO. And once again, deflation is threatening to engulf Japan — but this time it’s thanks to the oil price crash.

Global equities dropped in the immediate aftermath of the missile attack. However, markets soon pared those losses as hopes rose that the response could lead to a cooling of tensions. Overnight, the MSCI Asia Pacific Index dropped 0.8% while Europe’s Stoxx 600 Index was 0.2% lower by 5:45 a.m. Eastern Time. S&P 500 futures had erased all losses to trade slightly higher, the 10-year Treasury yield was at 1.800% and Brent crude had reversed almost all of its $3-a-barrel surge.

Singapore shares closed higher on Tuesday after Monday’s subdued session, amid a lack of fresh leads for traders. The Straits Times Index gained 67.32 points or 2.62 per cent to 2,634.57.

Wall Street stocks opened solidly higher Tuesday, bouncing back from a lackluster session as major banks kicked off earnings season in the wake of economic hit from coronavirus shutdowns. About 10 minutes into trading, the Dow Jones Industrial Average had gained 2.2 per cent to 23,898.71.

Fitch Ratings has lowered its outlook on CDL Hospitality Real Estate Investment Trust (CDL H-Reit) to negative from stable. At the same time, the agency affirmed the Singapore-based trust’s long-term issuer default rating at BBB-.

S&P Global Ratings has lowered Frasers Centrepoint Trust's (FCT) long-term issuer credit rating to BBB from BBB+ as it believes FCT's cash flow will be hit hard by the coronavirus pandemic, it said on Monday. Correspondingly, S&P also lowered the rating on senior unsecured notes issued by FCT MTN and guaranteed by FCT to BBB from BBB+.

Economic Development Board (EDB) chairman Beh Swan Gin will be stepping down as ST Engineering's independent non-executive director due to "other commitments". Dr Beh, 52, will do so at the company's upcoming annual general meeting (AGM). Initially scheduled for April 23, the meeting has been postponed due to the Covid-19 situation, to a future date to be determined.

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