Stocks jumped on Tuesday as investors hoped a clear winner would emerge from the U.S. presidential election and a delayed, or contested, result would be avoided. The Dow Jones Industrial Average closed 554.98 points higher, or up 2.1%, at 27,480.03. The 30-stock average hit its high of the day in the session’s final minutes and briefly traded more than 700 points higher, before pulling back slightly at the close. The S&P 500 climbed 1.8% to 3,369.16 and the Nasdaq Composite advanced 1.9% to 11,160.57. It was the second-best presidential Election Day performance for the S&P 500.

Ant Group’s world record-setting initial public offering in Shanghai and Hong Kong has been suspended. The Shanghai and Hong Kong stock exchanges made the announcement on Tuesday. Alibaba, which owns a roughly 33% stake in Ant Group, saw its shares fall over 5% in U.S. premarket trading. Ant Group’s controller Jack Ma, executive chairman Eric Jing and CEO Simon Hu were summoned and interviewed by regulators in China, according to a statement Monday from the China Securities Regulatory Commission.

CapitaLand says it is seeing “encouraging signs of recovery” in 3QFY2020’s operating metrics as the Covid-19 situation stabilizes in its two largest markets, China and Singapore. In its portfolio update released on Nov 3, the group says it has maintained discipline in shoring up liquidity and has been proactivity managing its cash position to maintain “robust” financial and liquidity positions.

THE manager of Lendlease Global Commercial Reit (LReit) on Tuesday noted that the subdued retail sector and leasing demand may potentially depress 313@somerset's rents during lease renewals and when entering into new leases.

SIA Engineering Company (SIAEC), the maintenance arm of Singapore Airlines, swung into a net loss of S$19 million the first half of its financial year, the mainboard-listed company said in an exchange filing on Tuesday evening. This is a year-on-year decline of S$106.6 million, with the group reversing the S$87.6 million net profit it recorded in the April-to-September period in 2019.

UOB posted a 40 per cent drop in net profit for its third quarter due to pre-emptive build-up of credit allowances, it said on Wednesday. Net profit for the three months ended Sept 30, 2020, stood at S$668 million, compared with S$1.12 billion for the year-ago period. An additional S$339 million in allowance for non-impaired assets was set aside to strengthen provision coverage, the bank said, bringing total credit costs on loans to 68 basis points this quarter.

ARA Logos Logistics Trust has raised about S$50 million from its private placement to partially finance its proposed acquisition of five Australian properties and investment in two of the sponsor's funds. About 90.5 million new units were issued at 55.25 Singapore cents each.

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