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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