Singapore shares may open lower on Thursday after data showed further contraction in the city-state's manufacturing sector and as euro zone concerns persisted, with tight credit markets making it expensive for banks to raise capital and for countries to refinance debt.
Singapore's manufacturing sector contracted for a sixth straight month in December as orders continued to shrink, a business survey showed on Wednesday, lending weight to fears the economy could sink into a recession.
Singapore's benchmark Straits Times Index rose 0.84% on Wednesday to 2,711.02 points. Here are some stocks and factors to watch, according to Reuters:
Singapore Exchange, Asia's second-largest listed bourse operator, may be in focus after announcing its securities turnover in December fell 41% from a year earlier to $17 billion, while securities daily average value was 36% lower at $794 million.
Engineering and clean energy firm IEV Holdings said on Wednesday its subsidiary had secured a further 24-month renewal of a gas sales and purchase agreement with Indonesian packaged food producer PT Indofood CBP Sukses Makmur Tbk. Under the agreement, PT Indofood will buy around 450,000 million metric British thermal units of compressed natural gas from IEV over a 24-month period from December 2011.
Sino Grandness said on Wednesday it plans to double its annual output capacity for bottled juices to around 140,000 tonnes from 70,000 tonnes. The firm aims to raise its beverage segment net profit to 140 million yuan ($28.6 million) in 2012 fiscal year from 70 million yuan in 2011.
Fortune REIT is seeking a HK$1.4 billion ($231.9 million) three-year syndicated loan to acquire two retail properties in Hong Kong, namely Belvedere Garden and Provident Centre, sources told Thomson Reuters Basis Point.
No comments:
Post a Comment