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Singapore shares may rise on Tuesday, helped by gains on Wall Street overnight as a falling dollar prompted investors to pick up riskier assets. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.27% on Monday to 3,182.08 points. Here are some stocks and factors to watch, according to Thomson Reuters and Bloomberg:
Singapore-listed Chinese shipbuilding firm Yangzijiang (YAZG.SI) may be in focus after it said its third quarter net profit rose 32% to 730.4 million yuan ($142 million) from 554.2 million yuan a year ago. Its revenue climbed 19% to 3.08 billion yuan as it delivered double the number of vessels in the July-September period versus a year earlier.
Australia’s influential Greens Party said on Tuesday it had strong concerns about Singapore Exchange’s (SGXL.SI) $10.7 billion takeover of Australia’s ASX (ASX.AX) and said it might oppose the deal in parliament.
Wing Tai’s (WTHS.SI) July-September net profit fell 35% to $30.2 million from $46.3 million a year earlier, due mainly to a 52% drop in revenue to $131 million.
Rubber firm GMG Global (GMGG.SI) reported third quarter net profit of $16.4 million ($12.65 million), reversing a loss of $371,696 a year ago, helped by higher selling prices for rubber.
Property developer MCL Land (MCRS.SI) said its July-September net profit plunged 91% to US$8.8 million ($11.4 million) from US$96.4 million a year earlier, as its revenue fell 83% to US$46.6 million.
Frasers Centrepoint Trust (FCRT.SI) said its fourth quarter net property income rose 26% to $22.2 million from $17.6 million a year ago, on the back of new asset acquisitions. Its distribution per unit was up 5.9% at 2.16 cents in the July-September period.
OKP Holdings (OKP SP): The Singapore-based road builder said third-quarter net income climbed 13% to $4.5 million from a year earlier. OKP was unchanged at 56.5 cents.
SembCorp Marine (SMM SP): The world’s second-biggest builder of oil rigs was given a “buy” rating in a new coverage by BNP Paribas. The brokerage has a share-price estimate of $5.58. The stock climbed 1.7% to $4.71.