Singapore shares may rise on Wednesday in line with other Asian bourses, but gains would likely be capped as investors remain cautious ahead of a Federal Reserve meeting which could offer more stimulus for the ailing U.S. economy.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.86% on Tuesday to 2,780.84 points. Stocks and factors to watch:
DBS (DBSM.SI), Southeast Asia’s largest bank, may be in focus after it said on Tuesday it plans to invest $250 million over the next five years in its private banking business.
Advanced Holdings (ADVA.SI) , which supplies environmental technologies and clean energy solutions, said on Tuesday it has won $16.8 million worth of oil and gas contracts from China, Thailand, Saudi Arabia and Singapore.
Engineering firm CNA Group (CNGR.SI) said that it was awarded $18.6 million worth of contracts in Singapore, China and Vietnam since July, bringing its total outstanding order book to $64.9 million.
Semiconductor firm Serial System (SERL.SI) said it plans to issue 28 million Taiwan depositary receipts at an indicative price range of T$10.98 to T$12.75 (46.2 cents to 53.7 cents). It has also entered into a book building agreement with Fubon Securities.
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