Singapore stocks are likely to see a cautious start on Thursday as worries about the global economy may keep investors away from risk.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 1.47% on Wednesday to 3,130.34 points. Here are some stocks and factors to watch:
Singapore’s CapitaLand (CATL.SI) may be in focus after announcing its second quarter net profit, excluding revaluations and impairments, rose 27%, helped by higher revenue from development projects in Singapore and China.
Oversea-Chinese Banking Corp (OCBC.SI), Singapore’s second-biggest lender, may also be in the spotlight after posting a lower-than-expected 15% rise in quarterly net profit as higher staff costs and bad debt charges partially offset strong interest income.
Singapore-listed Hutchison Port Holdings Trust (HPHT.SI), which owns port assets, announced on Wednesday net profit attributable to unitholders of HK$653.7 million ($101 million) for the financial period from Feb 25 to June 30.
Singapore-listed Chinese shipbuilder Yangzijiang (YAZG.SI) said on Wednesday it has received 139.5 million yuan ($26.1 million) worth of government incentives and tax subsidies through its Chinese subsidiaries.
Singapore’s Overseas Union Enterprise (OVES.SI) said on Wednesday its second quarter profit after tax rose 20% year-on-year to $20.1 million, boosted by contributions from its hospitality and property investment divisions.
Singapore construction firm Tiong Seng (TISE.SI), which has ventured into property development, said on Wednesday its subsidiary has successfully bid for the right to use a piece of land at Xushuguan, China, at a price of about 382 million yuan ($71.5 million).
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