Singapore shares may see a weak start on Monday, as investors remain reluctant to take large positions ahead of a looming Aug. 2 deadline for the US government to raise its debt ceiling and due to continued anxiety over the European debt crisis.
Singapore is reviewing its 2011 GDP forecasts but expects no big adjustment despite global sluggishness and its own economy slowing in the second quarter, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam was quoted as saying on Sunday.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.14% to 3,084.24 points on Friday.
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Singapore Airlines (SIAL.SI), the world’s second-most valuable carrier by market capitalisation, may be in focus after it said its load factor fell in June from a year ago as fewer passengers chose to fly on the Singapore flag carrier. SIA filled 68.6% of the space available on its planes for passengers and cargo in June, down from 70.8% a year ago. The June figure was, however, up from May’s 67.5%.
Sembcorp Industries (SCIL.SI) said on Monday its subsidiary’s joint venture with Oman Investment Corporation has completed the first phase of its US$1 billion ($1.2 billion) water and power plant in Oman.
Consumer electronics firm TSH Corporation (TSHC.SI) said it expects to report a net loss for the first half of 2011 due to the delay of launching new products.
Stratech Systems (SSYM.SI) said it plans to buy 80% of South Korea’s Global Telecom for US$7.6 million ($9.2 million), a move that would allow it to expand faster in the market.
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