Singapore shares may see a weak start today, weighed by property stocks after Singapore announced new measures to cool the city-state’s housing market and as investors remain cautious ahead of an EU summit this week.
Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe’s banks dented financial market hopes of a turning point in the euro zone’s debt crisis at this week’s summit.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.21% to 2,782.55 points on Wednesday. Here are come stocks and factors to watch, says Reuters:
Shares of property developers such as CapitaLand, City Developments and other smaller players are likely to come under pressure after Singapore said foreigners who buy private homes will have to pay an additional stamp duty equal to 10% of the property value.
Airlines worldwide like Singapore Airlines face over US$8 billion in losses next year if Europe’s politicians fail to get to grips with the region’s debt crisis, the industry’s leading trade group International Air Transport Association warned on Wednesday.
Budget carrier Tiger Airways said it has dropped plans for a joint venture budget airline with Thai Airways International PCL due to its failure to get the necessary government approvals.
Hu An Cable said it has won 154.9 million yuan ($31.2 million) worth of contracts from China’s largest power transmission and distribution company, State Grid Corporation of China, to supply power cables for the construction of power infrastructure in Jiangsu province.
No comments:
Post a Comment