Apr 27: Singapore stocks may rise on Wall St; Mapletree Commercial in focus

Singapore stocks may open higher on Wednesday as encouraging earnings from major US companies revived economic optimism and raised hopes of further gains for equity markets. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.50% on Tuesday to 3,171.83 points.

Here are some stocks and factors to watch:

Mapletree Commercial Trust (MACT.SI), whose assets include Singapore’s largest shopping mall VivoCity, will kick off trading on the Singapore Exchange at 2 p.m. The firm said it sold 712.9 million units at $0.88 per unit.

Singapore’s Mapletree Industrial Trust (MAPI.SI) reported on Tuesday fourth quarter distribution per unit of 1.93 cents, exceeding its initial public offering forecast by 9.7%, helped by improving occupancies and rental rates.

Singapore massage chair maker Osim International (OSIL.SI) said on Tuesday its first quarter net profit surged 150% to $20 million from a year earlier, helped by higher sales, better product mix and greater productivity.

Starhill Global REIT (STHL.SI), which owns office and retail properties, said on Tuesday its first quarter distribution per unit rose 12.6% year-on-year to 1.07 cents, helped by strong occupancy in its buildings.