Singapore stocks may open lower on Tuesday, in line with a weaker start in Asian markets, amid concerns about slowing global economic growth and a possible cut to the United State’s credit rating.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.82% on Monday to 3,215.27 points. Here are some stocks and factors to watch:
Singapore-listed Chinese drugmaker C&O Pharmaceutical Technology (COPT.SI) may be in focus after Japan’s Shionogi & Co (4507.T) announced its plans to take control of the firm for 14.3 billion yen ($222.9 million).
Singapore’s Sembcorp Marine (SCMN.SI) may also be in the spotlight after announcing it has signed two turnkey contracts worth US$444 million ($534 million) to build two jackup rigs for Noble Corp (NE.N).
Singapore-listed Chinese shipbuilder COSCO Corp (COSC.SI) reported a 53% fall in its second quarter net profit on Monday, saying it was hurt by lower contributions from dry bulk shipping and shipyard operations as well as higher income tax.
Singapore’s DBS (DBSM.SI), Southeast Asia’s largest bank, said on Monday it had set up a US$5 billion ($6 billion) programme under which the lender may issue euro-commercial paper notes. Credit Suisse and DBS are the arrangers of the programme.
Singapore’s CapitaMall Trust (CMLT.SI) said on Monday it had entered into office leases worth around $221.8 million at The Atrium@Orchard, which comprises two office towers, with Temasek Holdings and the latter’s subsidiary Fullerton Fund Management.
Singapore-listed Chinese property developer Yanlord (YNLG.SI) said on Monday it had sold 58.4% of the 310 apartment units at its inaugural launch of Yanlord Riverside Gardens in Tianjin, China. Presales as at July 31 amounted to 572 million yuan ($107 million).
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