Tag Archives: Singapore Shares

Singapore stocks may open higher; property stocks in focus

Posted on 30 May 2011 | Comments Off on Singapore stocks may open higher; property stocks in focus

Singapore shares may open up on Monday after Wall Street closed higher, but weak US data on consumer spending and housing may raise concerns about the recovery of the world’s largest economy and temper bigger gains.

Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.38% on Friday to 3,135.52 points. Here are some stocks and factors to watch:

Property stocks such as City Developments (CTDM.SI) and Keppel Land (KLAN.SI) may be in focus after the Singapore government announced over the weekend that it is planning to build more government housing to meet the backlog in demand.

Singapore brokerage Kim Eng (KEHS.SI) said on Friday its first quarter net profit rose 3.4 percent from a year earlier to $15.6 million, helped by higher commission and trading income as well as interest income.

Singapore-listed Chinese wastewater treatment firm Sound Global (SOGL.SI) said on Friday it had won a bid for a rural improvement project in Fushun County, China. The investment for the project is about 225 million yuan ($42.9 million), the firm said.

Singapore-listed life sciences firm Transcu (TRSU.SI) reported on Friday 2011 net loss of US$16.6 million ($20.5 million), narrowing from a net loss of US$29.2 million a year earlier, helped by higher contribution from its cosmetics business.

Singapore-listed Renewable Energy Asia Group (REAG.SI) reported 2011 net loss from continuing operations of 39.1 million yuan ($7.4 million), compared with net loss of 11.9 million yuan a year earlier, hurt by lower production volumes and higher production cost per unit.

Source : The Edge – 30 May 2011

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S’pore shares fall on property clampdown

Posted on 14 Sep 2009 | Comments Off on S’pore shares fall on property clampdown

Singapore shares closed 1.54 per cent lower on Monday, dragged down by tumbling property stocks after the government announced new measures to curb real estate speculation.

The blue-chip Straits Times Index fell 41.29 points to 2,639.74 on volume of 2.40 billion shares worth $1.79 billion (US$1.25 billion). Decliners outnumbered risers 452 to 118, with 675 issues unchanged.

Property stocks led the decline after the government announced fresh measures to curb speculation in the red-hot real estate market, following warnings that a new bubble might be forming despite an economic slowdown.

Li Hiaw Ho, executive director of property advisers CB Richard Ellis in Singapore, said the key measures were curbs on bank lending to finance property purchases.

‘This would remove much of the speculative element from the burgeoning sales volume,’ Mr Li said.

Among property stocks, CapitaLand dropped 15 cents to $3.72, Keppel Land eased 17 cents to $2.66 and City Developments was down 84 cents to $10.24.

Banks also tumbled, with DBS falling 18 cents to $12.92, United Overseas Bank dropping 16 cents to $16.70 and Oversea-Chinese Banking Corp closing nine cents lower at $7.74.

Singapore Telecom was down four cents to $3.16 and Singapore Airlines ended 50 cents weaker at $12.96. — AFP

Source : Business Times – 14 Sep 2009

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Posted in General, Property Market / Real Estate

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