Singapore shares are likely to rise today, after a move by major central banks to make cheaper dollar loans for struggling European banks sent US markets rallying overnight and eased fears about the euro zone’s debt woes.
The move might also boost the sentiment on Singaporean lenders DBS Group Holdings , Oversea-Chinese Banking Corporation and United Overseas Bank, says Reuters.
Singapore’s benchmark Straits Times Index rose 0.53% on Wednesday to 2,702.46 points. Here are some stocks and factors to watch:
Warehouse operator Global Logistic Properties may be in focus after it said it priced its $500 million perpetual capital securities on Wednesday to yield 5.5%.
Sunshine Holdings said its wholly owned subsidiary has agreed to acquire a 50% stake in Tian Cheng Holdings, which owns two iron ore mines in China, for 350 million yuan ($70.6 million).
Ascott Residence Trust, which owns serviced residences, said it has established a US$2 billion ($2.6 billion) euro medium-term note programme, whose net proceeds will go towards financing working capital, asset-enhancement works and corporate requirements like acquisitions and investments.
Palm oil firm Wilmar International will partner US commodity firm Gavilon to import and process palm, coconut and palm kernel oils to serve California and the west coast markets in the United States, Gavilon said in a statement.
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