Singapore stocks may rise on US housing data and earnings of companies.
The blue-chip Straits Times Index edged downward by 0.04% or 1.1 point to end at 3,045.67 on Wednesday. In the broader market, 1.78 billion shares changed hands. Losers edged out gainers 207 to 197. Here are some stocks and factors to watch:
Property developer Keppel Land said its third quarter net profit rose 28.4% to $74.5 million from a year ago, driven by strong performance from its associate companies and a divestment gain. However, its revenue for July-September fell 18.6% to $466.9 million due to lower property trading and investment segments.
Ascendas REIT, which owns industrial assets, said its second quarter distribution per unit grew by 4.4% year-on-year to 3.53 cents, helped by positive rental reversion of about 12.8% on average.
Property developer CapitaLand's wholly-owned subsidiary CapitaValue Homes said it has secured its second residential site of about 36,920 square metres in Shanghai's Pudong District for about $33.26 million, through a government tender.
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