Asian stocks looked set to drift Tuesday after U.S. equities slipped from record highs, as investors weighed the prospects for risk assets after an unprecedented month of gains. The dollar strengthened. Futures pointed lower in Japan, while Australian stocks opened with a modest advance. S&P 500 futures edged up. The benchmark dropped the most in more than a week, though still closed out its best month since April. The tech-heavy Nasdaq indexes that trailed in November fared better, touching a record high on Monday, while a gauge of global stocks posted its best month on record. Gold retreated and Bitcoin rallied back to an all-time high.

Hyflux's judicial managers will "shortly arrange" a virtual meeting or telephone call with holders of the embattled water treatment firm's perpetual securities, preference shares and medium-term notes. Borelli Walsh's Patrick Bance, who was appointed as Hyflux's judicial manager alongside Hamish Christie from the same firm, told perpetual and preference share (PnP) holders and noteholders in a letter last Friday that the judicial managers are undertaking an urgent review of the financial and operational affairs of Hyflux and Hydrochem (S) Ltd, and their subsidiaries.

Malaysia will extend its movement control order on Top Glove's worker dormitories in Klang by two weeks to Dec 14 because of rising coronavirus cases there, according to Defence Minister Ismail Sabri Yaakob at a media briefing Monday. The movement control at the company's dormitories started on Nov 17 and was supposed to end Monday, but there are still many new positive cases via second screening, he said. The government has tested 5,805 workers and 3,406 are found positive for the virus, he added.

Yangzijiang Shipbuilding on Monday said it has signed agreements to build and deliver nine vessels worth about US$226 million. The nine vessels consist of four 2,400 twenty-foot equivalent unit (TEU) containerships, one 2,700 TEU containership, two 1,800 TEU containerships and two 59,000 deadweight tonnage (DWT) dry bulkers.

The Monetary Authority of Singapore (MAS) on Monday ordered the removal of the manager of Eagle Hospitality Reit (EH-Reit), and to appoint a new manager "as soon as practicable". This move closely follows the issuance of a Notice of Intention (NOI) on Oct 26, which was in view of numerous breaches of the Securities and Futures Act (SFA) by the Reit's manager EH-Reit Management, as well as serious concerns over the manager's ability to comply with rules and regulations, said MAS.

City Developments Limited (CDL) expects to fall into the red in 2020 with a full-year loss, rever from a S$564.6 million net profit in 2019, dragged by the prolonged impact of the coronavirus outbreak. It foresees further impairment losses, and British subsidiary Millennium & Copthorne Hotels (M&C) and China-based joint venture (JV) Sincere Property Group are set to spill some red ink.

Myanmar-focused conglomerate Yoma Strategic Holdings' real estate arm, Yoma Land, plans to develop its first suburban commercial property at StarCity, and a second residential project under the City Loft brand in another part of Yangon. The City Loft brand was first launched in November 2018 at StarCity, one of Yoma Land's flagship developments in the east of Yangon.

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