Singapore shares may see cautious gains on Thursday, boosted by stronger-than-expected first quarter economic data. However, a choppy session on Wall Street overnight is likely to limit gains.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.09% on Wednesday to 3,172.08 points.
Singapore’s first quarter GDP rose 8.5% from the year-ago figure, compared with a median of 6% from a Reuters poll. The central bank also said inflation in the city-state this year will likely come in at the upper half of its 3-4% forecast range.
Singapore’s central bank separately slightly tightened monetary policy, re-centering its exchange rate policy band upwards and warning inflation was likely to be at the high end of its forecast.
Here are some stocks and factors to watch:
Singapore Press Holdings (SPH) (SPRM.SI) may be in focus after it said on Wednesday its second quarter net profit fell 33.5% from a year ago, mainly due to an absence of earnings from property development.
Sembcorp Industries (SCIL.SI), a rig-building and engineering conglomerate, said on Wednesday it is considering building water treatment plants as well as a large commercial, residential and industrial zone in eastern China.
Hotel Grand Central (HGCS.SI) said on Wednesday it plans to develop its hotel off the city-state’s Orchard Road shopping belt.
Port operator Portek International (PKIL.SI) said it will acquire a 60% stake in Rwanda’s main inland cargo handling facility, Magasins Generaux du Rwanda, for US$5.9 million ($7.4 million).
Sabana Shari’ah Compliant Reit (SABA.SI), which owns industrial properties, has appointed Tan Chiew Kian as its chief financial officer with effect from April 14. She replaces Eric Michael Peter Pascal.
Techcomp (TECC.SI), a Chinese manufacturer and distributor for healthcare instruments, said it is seeking a dual primary listing on Hong Kong’s stock exchange.
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