Singapore shares may have a weak start on Wednesday after Wall Street closed flat overnight ahead of next week’s US elections and likely announcement of more stimulus by the Federal Reserve. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.62% on Tuesday to 3,162.51 points. Here are some stocks and factors to watch, say Thomson Reuters and Bloomberg:
Singapore’s Suntec Real Estate Investment Trust (SUNT.SI) may be in focus after it said on Tuesday it was buying a one-third interest in properties owned by two Hong Kong firms in the city-state’s downtown Marina Bay area for $1.5 billion.
Singapore-listed Chinese aluminium producer XinRen Aluminum (XIRN.SI) is to make its trading debut at 9:00 a.m. It said on Tuesday it had sold a total of 228 million shares at $0.55 per share.
Yangzijiang Shipbuilding Holdings (YZJ SP): The largest Chinese shipyard listed in Singapore is planning to buy more yards in China as part of a plan to boost its shipbuilding capacity by 20% next year, Chairman Ren Yuanlin said yesterday in an interview in Singapore. Its shares declined 2% to $1.96.
Yongnam Holdings (YNH SP), the Singapore-based construction company, said it won two contracts, valued at $56.5 million, to build part of a new commuter train line in the city-state. Its shares rose 3.5% to 30 cents.
OKP Holdings, the infrastructure and civil engineering firm, has won a $22 million contract from the PUB, the national water agency, for road-raising works in the Orchard Road area.
Singapore’s Starhill Global REIT (STHL.SI) said on Tuesday its third quarter distributable income was $22.4 million, up 21% from the year-ago period.
Singapore healthcare provider Thomson Medical Centre (THOM.SI) reported on Tuesday a 18.5% rise in fourth-quarter net profit to $4 million from a year ago mainly due to the strong performance in its hospital operations and specialised services.
Commodities firm Noble Group (NOBG.SI) said on Wednesday its subsidiary Gloucester Coal reported a 22% increase in net sales of coal for its first quarter ended September 30 to 515,000 tonnes from a year ago.
Liang Huat Aluminum (LHA SP): The maker of aluminum products said it plans to raise $7.9 million, selling up to 789.29 million new shares at 1 cent each to existing shareholders in a one-for-four rights issue. Liang Huat was unchanged at 2.5 cents.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, rose 1.1% in London yesterday, extending its three-day advance to 2.1%.Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, slid 2.6% to $1.86. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, lost 1.1% to $14.40.