Singapore shares may open weaker on Wednesday as concerns about the political situation in the Middle East and North Africa boosted oil prices and prompted investors to sell risky assets, such as stocks. Singapore’s benchmark Straits Times Index <.FTSTI> was up 1.9% on Tuesday to 3,067.60 points.
Here are some stocks and factors to watch:
Yanlord Land (YNLG.SI), a Singapore-listed Chinese property developer, may be in focus after it said its fourth quarter net profit rose 51% to 825.4 million yuan ($160 million) from a year earlier, partly helped by higher average selling prices.
The head of the Singapore Exchange (SGXL.SI) drew a line under his US$7.7 billion ($9.8 billion) bid for Australian bourse operator ASX Ltd (ASX.AX), saying on Tuesday he did not plan any further concessions to win approval for the deal.
Singapore-listed Chinese shipyard Yangzijiang Shipbuilding (YAZG.SI) said on Tuesday it had acquired an additional 40% equity interest in Jiangsu Xinfu Shipbuilding for US$57.15 million ($72.7 million). Yangzijiang now has 60% in the firm.
Hotel owner CDL Hospitality Trust (CDLT.SI) said on Wednesday it plans to acquire Studio M Hotel in Singapore for $154 million to tap into the city-state’s strong hospitality market.
Singapore’s Technics Oil and Gas (TECH.SI) said on Tuesday that its subsidiary Norr Systems has been awarded turnkey construction and service contracts worth $22.8 million.
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