Singapore stocks may rise on hopes of higher US earnings.
The Straits Times Index rose 3.76 points or 0.12 per cent to close at 3,046.81. Volume was 1.33 billion shares. Gainers led losers 269 to 163. Here are some stocks and factors to watch:
A Keppel Land unit made the top bid of $434.55 million for a residential site in eastern Singapore, beating 10 other bidders in an auction that shows developers remain confident about the property market. Separately, Keppel said it had acquired a Chinese property company that held a residential site in Xinjin County of China's Chengdu for 680.4 million yuan ($132.4 million). Keppel said it plans to develop about 573 landed homes.
Thailand's three biggest telecoms operators bid a total of 41.63 billion baht ($1.7 billion) on Tuesday for the radio frequencies required for the introduction of faster third-generation mobile services. Market leader Advanced Info Service, which is 21% owned by SingTel, offered a combined 14.63 billion baht ($581 million) for three slots with the highest price put at 4.95 billion baht.
Commodities firm Olam said on Tuesday it had priced its planned issue of $400 million fixed rate notes due 2022 at 6% per annum. Proceeds will be used for various purposes including financing capital expenditure and potential acquisition opportunities, the company said.
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