Singapore shares are set to rise on Wednesday after both Tokyo and Seoul opened more than % higher following Wall Street’s best rally this year, buoyed by stronger-than-expected retail sales data and the Federal Reserve’s more positive outlook.
The benchmark Straits Times Index rose 0.9% on Tuesday to 2,989.07 points. Here are some stocks and factors to watch, says Reuters:
Singapore Exchange may be in focus after the bourse operator said it will open trading hubs in Chicago and London in a bid to attract more trading from overseas.
Meiban Group requested for a halt in the trading of its shares on Wednesday pending the release of a statement related to its holding announcement dated Jan 18. The plastic parts maker said in January that it had received an approach from a party, which may or may not lead to an offer for the company.
Creative Technology said on Tuesday the company and its subsidiary, QMax Communications, had filed claims for more than $23 million from the vendor of equipment for a wireless broadband project. The vendor counterclaimed for more than $10 million from Creative and QMax.
Singapore construction firm Yongnam said on Tuesday it had secured contracts worth a total of $52.1 million. All three contracts are expected to have positive impact on the company’s financial performance for the year ending Dec 31, 2012.
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