Singapore shares may open lower on Monday with bank stocks in focus after losses on Wall Street following a court ruling in a key foreclosure case that prompted investors to pull out of U.S. bank stocks.
Singapore's benchmark Straits Times Index <.FTSTI> was down 0.56% last Friday to 3,261.35 points. Here are some stocks and factors to watch today:
Singapore banks DBS (DBSM.SI), Oversea-Chinese Banking Corporation (OCBC.SI) andUnited Overseas Bank (UOBH.SI) may be affected after shares of U.S. lenders fell on fears the court ruling could threaten their ability to work through pending foreclosures.
Singapore shopping mall developer CapitaMalls Asia (CMAL.SI) said on Friday its unit CapitaMalls Malaysia Trust (CMMT) plans to acquire a property on the island of Penang for 215 million ringgit ($90.6 million).
Hu An Cable (HACH.SI), a Singapore-listed Chinese wire and cable manufacturer, said on Friday it is poised to benefit from China's 200 billion yuan ($39 billion) rural power grid plan due to the firm's close ties with the state grid and state-owned electric power companies.
Aspial Corporation (ASPA.SI), which manufactures and sells jewellery, said on Friday that investigations launched against its CEO Koh Wee Seng by the Commercial Affairs Department have been concluded and the CAD will not be taking any action against him.
Singapore-listed Think Environmental (THEC.SI) said on Friday it had signed a $23.2 million engineering, procurement and construction contract with Phichit AgriPower for a power plant project at Phichit Province, Thailand.
Property firm Brothers Holdings (BRRS.SI) said on Friday it had disposed 108.7 million shares, representing 16.3%, in Oakwell Engineering for $9.78 million. The firm said the disposal will free up its resources to focus on its real estate business in China.