Singapore shares may open lower on Wednesday following a worse-than-expected quarterly profit decline by palm oil giant Wilmar (WLIL.SI) and after Wall Street fell for a second day.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.40% on Tuesday to 3,313.61 points. Here are some stocks and factors to watch, say Bloomberg and Thomson Reuters:
Singapore Airlines (SIAL.SI), the world’s second-largest carrier by market value, may be in focus after it reported on Tuesday better-than-expected second-quarter earnings, boosted by a strong recovery in passenger traffic, especially in the premium segment. But the carrier was fined 74.8 million euros after the European Commission ruled that its cargo unit was involved in a price-fixing case involving several airlines. SIA said on Wednesday it is likely to appeal the ruling.
Wilmar International (WLIL.SI), the world’s biggest listed palm oil plantation firm, posted a worse-than-expected 60% fall in third-quarter net profit, hurt by losses from its oilseeds and grains business.
Noble Group (NOBL SP): The Singapore-based commodity supplier backed by China’s sovereign wealth fund said third-quarter profit rose 19% to US$157.2 million ($203.2 million) from a year earlier. The stock was unchanged at $2.13.
Singapore’s second-biggest telecom firm StarHub (STAR.SI) said on Tuesday third-quarter net profit fell 3.7% to $82 million, dragged down by higher operating expenses.
Singapore Technologies Engineering (STEG.SI), the city-state’s main defence contractor, posted on Tuesday an 8.3% rise in third-quarter net profit, helped by higher earnings from its electronics and marine units.
Singapore medical technology firm Biosensors (BIOS.SI) said its chief financial officer Kevin R. Sayer has resigned and will step down effective Nov 30. Biosensors also said it is closing its US operations.