Singapore stocks may fall with China’s growth target within reach no fresh stimulus expected after the leadership transition.
On Monday, The ST index edged 1.99 points lower at 3,007.57 on a volume of 2 billion shares. There were 217 advances against 263 losers by the close of the session.. Here are some stocks and factors to watch:
Singapore Telecommunications reported a 1.6% fall in second-quarter net profit on Wednesday, dragged down by higher costs and weaker regional currencies, and flagged a drop in group revenue this fiscal year due to its Australian unit Optus.
Noble Group’s third biggest shareholder, Harry Banga, is offering up to US$200 million worth of shares in the commodities trader, a source with knowledge of the plans said on Monday.
Global Logistic Properties, which owns logistics facilities in Japan and China, requested a halt in the trading of its shares. It said it will release “announcements relating to pending transactions.” GLP said earlier this month it plans to raise US$1.3 billion by setting up a real estate investment trust in Japan.
Genting Singapore, which owns one of Singapore's two multi-billion-dollar casino complexes, said on Monday its third-quarter core earnings fell 19%, hurt by a lower win rate in its premium player business, but was in line with analyst expectations.
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