October 14, 2020 - Biz in 60

China's stock market value hits record $10T Chinese stock valuations have climbed to a record high as the world's second largest economy recovers from the COVID-19 pandemic. The combined value of shares trading on the Shanghai and Shenzhen exchanges reached 10-point-04 trillion dollars. The market value briefly touched that level in 2015, prior to a brutal sell-off which resulted in the market plunging by half. Singapore's economy shrinks at slower pace in Q3 Singapore's economic contraction has slowed in the third quarter following the easing of lockdown restrictions. Gross domestic product shrank by 7 percent in the July to September period compared with a year ago, improving from a 13-point-3 percent contraction in the second quarter. On a quarterly basis, the Singaporean economy rebounded by 7-point-9 percent. Eli Lilly pauses trials of antibody drug over safety concern US drugmaker Eli Lilly has paused the government-sponsored clinical trials of its COVID-19 antibody treatment due to a safety concern. Lilly's drug is similar to the one taken by US President Donald Trump after he tested positive for the virus. The move came a day after Johnson and Johnson suspended trials of its coronavirus vaccine after a participant contracted an unexplained illness.