Singapore shares are likely to have a cautious start on Tuesday as investors remain cautious about Greece’s debt problems and seek direction in thin markets after Wall Street was closed for Independence Day on Monday. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.46% on Monday to 3,153.44 points. Here are some stocks and factors to watch:
Property stocks such as Sim Lian Group (SIML.SI) may be in focus after Singapore media reported that future land sales under the design, build and sell scheme (DBSS) have been suspended while it is being reviewed. DBSS has come under the spotlight recently after Sim Lian set indicative prices of as much as $880,000 for five-room flats in its Centrale 8 project.
Nestle (NESN.VX), the world’s largest food company, is among companies in talks with Chinese candies and pastries group Hsu Fu Chi International (HSFU.SI) on a deal that could be worth over US$2 billion ($2.5 billion). Its shares have not been lifted from a trading suspension.
Singapore budget carrier Tiger Airways (TAHL.SI) may be in focus after Australia’s ban of its flights on safety grounds sent shares tumbling to a record low on Monday.
Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse operator, said on Tuesday securities turnover increased 8% and derivatives volume rose 17% in June from a year earlier.
Singapore water treatment firm Hyflux (HYFL.SI) said on Monday it had secured financing of $150 million to fund its Tuaspring desalination plant. The financial package was arranged by DBS Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.
Singapore brokerage Kim Eng (KEHS.SI) requested suspension of its shares on Monday. The firm said the cash offer by Maybank was closed.
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