Asian stocks looked poised to follow their U.S. counterparts lower as chances of a fresh stimulus deal before November’s election faded and global virus cases surpassed 40 million. Treasuries slipped. Futures pointed to modest losses in Japan, Australia and Hong Kong. The S&P 500 Index fell to the lowest in almost two weeks. The 10-year Treasury yield rose to almost 0.77% and the dollar weakened versus major peers. Elsewhere, the pound jumped by the most since August at one point on a little Brexit optimism. Oil dropped after an OPEC+ meeting made no mention of any changes to a plan to further ease oil-output cuts from January.

Keppel Reit on Monday announced that its distributable income from operations was S$47.6 million for the third quarter, up 4.6 per cent increase year-on-year. This is due mainly to the commencement of income contribution from 311, Spencer Street in Melbourne, which achieved practical completion on July 9, and lower interest expenses. Distributable income from operations for the third quarter excludes any distribution of capital gains, which will be disclosed at the full year 2020 results announcement. Net property income attributable to unitholders went up 7.9 per cent to S$31.3 million from a year ago.

Elite Commercial Reit has proposed to buy 58 commercial buildings located across the UK for £212.5 million (S$372.9 million), in its first acquisition since its initial public offering (IPO) this February. These assets are almost entirely leased to the UK government via various agencies, the real estate investment trust's (Reit) manager announced on Monday.

Struggling offshore and marine player Ezion Holdings on Monday announced its restructuring plan to refocus its business on the provision of vessel-management services, following a strategic review of its options in consultation with major lenders. The company said that it will take steps to realise value by disposing of its vessels in an orderly manner over a period of time; this will enable it to better manage its cashflow constraints by reducing the holding costs of the vessels as well as the amount of liabilities.

Mapletree Logistics Trust (MLT) announced on Monday that it is seeking to acquire nine logistics properties in China, Malaysia and Vietnam, and also the remaining 50 per cent interest in 15 properties in China for a total of S$1.09 billion. The aggregate agreed property value of the properties was S$1.04 billion, said MLT.

Postal service provider Singapore Post (SingPost) is looking to buy a 38 per cent stake in Freight Management Holdings (FMH), a fourth-party logistics (4PL) service company incorporated in Victoria, Australia for A$85 million (S$84.1 million) in cash. SingPost's wholly-owned subsidiary SingPost Logistics Holdings on Oct 16 entered into a conditional sale and purchase agreement with existing shareholders of FMH, as well as a share subscription agreement with FMH for the stake purchase, SingPost said in a bourse filing on Monday morning before the market opened.

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