Daily Briefing: NOL nears seven-month high; Asian stocks decline on back of commodity rout

And here’s why millionaires are attracted to live in Singapore.

Neptune Orient Lines Ltd. surged to its highest in almost seven months in Singapore trading after Southeast Asia’s biggest container shipper confirmed it’s in exclusive talks to be acquired by France’s CMA CGM SA. NOL shares rose by as much as 5.4 percent to S$1.18 on Monday, their highest intraday level since April 29. Read more here.

Asian stocks fell amid low trading volumes as commodity producers tracked a slide in industrial metals and crude oil. “This is not a really welcoming environment for risk taking,” said Tim Condon, head of Asia research at ING Groep NV in Singapore. Find out more here.

According to a study by WealthInsight, the number of millionaires in Singapore is expected to grow by 18.3% over the next 5 years. In 2015, we have approximately one millionaire per 36 people living in Singapore. WealthInsight forecasts that the number of millionaires in Singapore will reach 188,000 by 2020, up from the current number of 154,000 in 2015. Read more here.

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