Singapore stocks closed higher on Tuesday, following gains in Japan and helped by growing confidence over the health of China's economy. The benchmark 30-share ST Index was up 11.88 points, or 0.37%, at 3,244.12, extending gains into a third session. Here are some stocks and market-related news which could impact the local market this Wednesday morning:
SingTel, Southeast Asia's largest telecommunications operator, reported a 7% rise in first-quarter net profit on Wednesday, helped by its consumer business and contribution from its regional mobile associates. Separately, the company signalled on Tuesday it may not be selling Optus Satellite after announcing it had concluded its strategic review of the business.
ST Engineering reported a 3% rise in second-quarter net profit from a year earlier, lifted by its electronics, land systems and marine segments.
Singapore-listed Chinese property developer Yanlord posted a 99% plunge in second-quarter net profit to 6.4 million yuan ($1.33 million) due to a decrease in gross floor area delivered, lower margins and the absence of fair value gain on investment property.
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