Jardine Strategic Holdings Ltd. agreed to buy a 20 percent stake in Chinese premium car distributor Zhongsheng Group Holdings Ltd. to benefit from rising luxury demand in the world’s biggest auto market.
Schroders Plc and Baring Asset Management Ltd. are avoiding Singapore stocks, the cheapest in Southeast Asia, as slower economic growth in the region and cuts to Federal Reserve stimulus drive capital outflows.
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.
A unit of Jardine Cycle & Carriage Ltd. said Indonesia’s February domestic vehicle sales fell to 69,489 units from 73,866 units a month earlier, citing data from the nation’s automotive industries association.
Singapore’s Straits Times Index gained 1 percent to 3,220.01 as of 12:08 p.m. local time, heading for its highest close since Jan. 28. Six stocks rose for each that fell in the index of 30 companies. The stock market started trading today without a lunch break, operating non-stop from 9 a.m. through 5:10 p.m.