Singapore shares are expected to open lower on Friday after US stocks fell more than 3 percent overnight as worries about a global recession intensified following the Federal Reserve’s grim economic outlook and weak data from China.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 2.55% on Thursday to 2,720.53 points.
Here are some stocks and factors to watch:
Singapore offshore services firm Swiber (SWBR.SI) may be in focus after announcing it had won a contract worth around $155 million for an engineering, procurement, installation and construction project in South Asia. Swiber said its order book is now close to US$1 billion ($1.3 billion).
Lee Boon Yang, Singapore’s former minister for information, communications and the arts, will helm the Singapore Press Holdings Board (SPRM.SI), the media and property company said on Thursday.
Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse, said on Thursday it is improving its securities market opening and closing routines to improve transparency and trading safeguards.
Singapore’s Marco Polo Marine (MAPM.SI) said on Thursday it had secured a contract worth around $10.5 million to build five units of barges.
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