Singapore shares are likely to fall on Tuesday, after debt fears in Europe and the US hurt the outlook for global economic growth and sparked heavy selling on Wall Street overnight.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.28% on Monday to 3,144.38 points.
Here are some stocks and factors to watch:
Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse by market value, may be in focus after it reported a 10.2% drop in quarterly net profit, hurt by costs related to its failed bid for ASX (ASX.AX) and higher technology spending. SGX’s earnings were far worse than expected.
CapitaCommercial Trust (CACT.SI) said its distributable income for the first quarter fell 4.1% to $52.1 million, due to the reduction in rental income after the sale of two of its properties. It had a distribution per unit of 1.84 cents for the period, down 4.7% from a year ago.
CapitaCommercial Trust and CapitaLand (CATL.SI) will jointly redevelop Market Street Car Park, a commercial property in Singapore’s central business district, into a grade A office tower. The total project cost is estimated to be $1.4 billion, it said in a statement.
Keppel Telecommunications & Transportation (KTEL.SI) said its first quarter net profit before exceptional items rose 10% to $13.9 million, helped by higher revenue from its data centre division.
Ascendas REIT (AEMN.SI), which owns industrial properties, said its fourth quarter distribution per unit jumped 19.8% to 3.27 cents, up from 2.73 cents a year ago, helped by higher gross revenue as new projects were completed.
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