Wall Street gains offer reprieve in Asia

A week and a half has passed since US President Donald Trump caught many off-guard by declaring tariffs on the rest of China's imports to the United States.

Disappointing China economic data was cited as one reason for the relief rebound easing off as investors remain concerned over recent political and economic issues. "By pushing some tariffs to Dec 15, beyond the key Christmas buying season, the US is looking to alleviate some of these economic headwinds, at least over the near term," he added.

Trading in Yangzijiang Shipbuilding remains suspended. The company said after the market closing that its executive chairman is assisting Chinese officials in a probe. The agribusiness company was one of the STI's main gainers in July as institutional investors snapped up its shares on the back of the potential listing of its Chinese unit in Shenzhen.Citi Research's Patrick Yau noted:"Wilmar's stock price trend has moved away from tracking palm oil prices since early 2019 as the planned initial public offering of its Chinese unit progresses further. Despite this set of soft results, this event remains a catalyst.

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