Singapore shares may start weak on Friday as investors remain cautious amid increasing skepticism that the US will come to an agreement over its debt ceiling and avert a credit rating downgrade. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.12% on Thursday to 3,189.85 points. Here are some stocks and factors to watch:
Singapore Airlines (SIAL.SI) may be in focus after it said on Thursday it faced significant challenges as soaring jet fuel prices slashed first quarter profit by a worse-than-expected 82% from a year ago and economic uncertainties plagued key markets.
Midas Holdings (MIDA.SI) , which makes aluminium components used in trains, said on Thursday it had secured two contracts worth a total of 3.13 billion yuan ($585 million) to supply train cars in China.
Rubber firm GMG Global (GMGG.SI) said its second quarter net profit jumped 89.6% to $18 million, up from $9.5 million a year ago, helped by a higher average selling price of rubber and a net one-off gain from the waiver of a loan.
Property developer Hongkong Land (HKLD.SI) said its net profit in the first half of the year more than doubled to US$3.8 billion ($4.6 billion) from US$1.6 billion a year ago, helped by a higher revaluation gain.
Offshore marine services firm Otto Marine (OTTO.SI) said on Thursday it expects to report a loss for the second quarter compared to a profit in the year-ago period, due partly to the cancellation of a contract for two vessels.
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