Singapore shares may rise as investor risk appetite return after overnight data suggested some stabilization in the global recovery trend, particularly in the world's top two economies, the US and China.
On Thursday, the ST index fell 11.76 points to 3,026.61 on a volume of 1.4 billion shares.Here are some stocks and factors to watch:
Global Logistic Properties, one of the world's largest warehouse operators, plans to raise US$1.3 billion by setting up a real estate investment trust (REIT) in Japan.
Insurer Great Eastern Holdings' third-quarter net profit jumped more than 15 times to $619.6 million, boosted by a one-off gain of $421.6 million from the sale of its stake in Asia Pacific Breweries and Fraser and Neave. Excluding this gain, Great Eastern earned $198 million in July-September, helped by growth in underwriting profit and mark-to-market gains on investments.
Property developer SC Global Developments said its net profit in the third quarter rose 9% to $34.6 million, helped by sales from units and higher contribution from its development projects as construction progressed.
Hi-P, which supplies electronic parts to customers including Apple Inc, said its third-quarter net profit plunged 53.8% to $3 million, hurt by lower sales volumes due to project delays from its customers.
OKP Holdings, the infrastructure and civil engineering firm, has been awarded a $39.8 million contract for the construction of Seletar Airport’s east (north) aircraft parking apron, associated taxiways and ancillary works.
ARA Asset Management said net profit in the third quarter fell 23% to $19.6 million from $25.4 million a year ago. Revenue fell 26% to $33.1 million from $45 million over the same quarter mainly due to an 89% drop in acquisition and performance fees.
Hyflux said its net profit for the third quarter ended Sept 30 rose 15% to $14.52 million from a year ago. Revenue rose 77% to $155.05 million from $87.72 million.
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