Stocks in Asia were poised for a muted start after gains for U.S. shares faded into the close, with concerns mounting that a spike in virus cases in some states could impact the speed of the economic rebound. Gold rose to the highest since 2012.

Futures dipped in Japan, were flat in Hong Kong and edged higher in Australia. S&P 500 contracts were little changed after the gauge pared a gain of as much as 1.2% on reports that a surge in cases in several hotspots in the South and Southwest of the U.S. threatened to derail plans to ramp up reopenings. Still, the Nasdaq Composite hit another all-time high. The dollar fell and Treasuries were little changed. Oil ticked lower.

The manager of Mapletree Industrial Trust (MIT) on Tuesday said it has entered into agreements to purchase the remaining 60 per cent interest in 14 data centres in the US from its sponsor, for some US$210.9 million. The portfolio of 14 data centres is held by Mapletree Redwood Data Centre Trust (MRDCT), in which MIT already has a 40 per cent stake. Mapletree DC Ventures, a wholly-owned subsidiary of MIT's sponsor Mapletree Investments, holds the other 60 per cent stake in MRDCT. Upon completion of the proposed acquisition, MIT will fully own the 14 data centres.

Yangzijiang Shipbuilding on Tuesday said it has obtained new orders for four vessels worth around US$102 million, bringing the total for new orders to US$517 million in 2020 to date. The four new orders include two liquefied natural gas-tank (LNG) carriers placed by Hong Kong's Tiger Gas, and two 56,000 deadweight ton bulk carriers placed by Shanghai Ganglu Shipping Co.

Resort group Banyan Tree Holdings said in a regulatory filing on Tuesday that its hotel business continues to be negatively impacted on the back of border controls and travel restrictions imposed as a result of the Covid-19 pandemic. Its hotel investment segment, which comprises owned hotels in Thailand and the Maldives, recorded "significantly lower" occupancies in April and May than in the corresponding months last year.

Hong Leong Finance said on Tuesday that it has launched its Business Loans Campaign to provide more small and medium-sized enterprises (SMEs) with targeted cash flow-management solutions to cushion the impact of the Covid-19 pandemic. The finance company said that SMEs with cash flow issues can apply for the Enterprise Financing Scheme-SME Working Capital Loan (EFS-WCL) and the Temporary Bridging Loan Programme (TBLP).  These are collateral-free loans supported by the Monetary Authority of Singapore’s SGD Facility. Customers can also enjoy a waiver of processing fees during this period.

Accordia Golf Trust (AGT) said on Tuesday that the sum of 1.2 billion yen (S$15.7 million) that was set aside as reserves in the March quarter will be distributed, given that the impact of Covid-19 was not as adverse as projected. AGT, the first business trust comprising investments in golf course assets in Japan to be listed on the SGX-ST, was responding to an open letter by Hibiki Path Advisors, which owns 7.2 per cent of AGT. The letter had sought explanation for the 1.56 billion yen reserves that reduced AGT's latest semi-annual payout by almost half.

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