Singapore shares may rise on Wednesday tracking gains in U.S. equity markets overnight as investors become increasingly confident Greece will approve an austerity plan and avoid a debt default.
Singapore’s benchmark Straits Times Index <.FTSTI> gained 0.08% on Tuesday to 3,050.79 points.
Stocks and factors to watch:
Singapore’s three domestic banks said on Tuesday they were confident of meeting new capital requirements set by the central bank, which will be tougher than the Basel III rules. DBS Group (DBSM.SI), United Overseas Bank (UOBH.SI) and Oversea-Chinese Banking Corp (OCBC.SI) may be in focus after the city-state said it will make its banks hold higher capital levels than those set out under the new Basel III regulations.
Prices of non-landed private homes in Singapore climbed at a faster pace in May, with properties near the city centre commanding the largest price increases, the National University of Singapore (NUS) said. Office rents in Singapore registered a high single-digit growth in the second quarter of the year despite falling occupancy rates, the Business Times said citing a Colliers International property report. Average monthly gross rents of Grade A office space in the second quarter in Singapore rose 6% from the preceding three months.
Mapletree Logistics Trust (MAPL.SI), which owns warehouses across Asia, said Moody’s has upgraded the firm’s corporate family rating to Baa1 with a stable outlook.
Serial System (SERL.SI), which distributes electronic components, said it has applied to the Taiwan stock exchange for the issue of Taiwan depository receipts.
Hiap Seng Engineering (HSEN.SI) said it has won a contract worth $19 million to erect structural steel, piping and painting works from Shell Eastern Petroleum.
No comments:
Post a Comment