Singapore shares may open higher on Wednesday, following gains on Wall Street overnight as investors bet European leaders would take strong steps this week to stem the region’s debt crisis.
Singapore’s benchmark Straits Times Index fell 0.61% to 2,749.24 points on Tuesday. Here are some stocks and factors to watch:
Southeast Asia’s largest property developer CapitaLand may be in focus after it said it had sold a 100% stake in a China unit for about $173 million.
Property developer Chip Eng Seng said its wholly-owned subsidiary has been awarded the land parcel at the junction of Jalan Bukit Merah and Alexandra Road in Singapore for $189 million.
The tender for the development of a residential site at Alexandra Road in Singapore closed on Tuesday with seven bids, the Urban Redevelopment Authority said, with a top bid of $396 million jointly submitted by a consortium consisting of City Developments, Hong Leong Group and Hong Realty.
Keppel T&T said its wholly-owned subsidiary has formed a joint venture with Securus Data Property Fund to own, manage and operate a data centre in Sydney, Australia that it bought for A$60 million ($79 million). Keppel T&T will have a 30% stake in the joint venture.
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