Singapore shares may open higher on Wednesday, buoyed by higher commodity prices, but any gains may be tempered by worries about spreading Europe debt woes after rating agency Moody’s cut Portugal’s credit standing to junk.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.75% on Tuesday to 3,129.69 points. Here are some stocks and factors to watch:
Sinobest Technology (SINT.SI) may be in focus after announcing its plan to acquire construction and property firm OKH Holdings for around $108 million in a reverse takeover deal by issuing 900 million new shares at $0.12 each.
Singapore energy, water and marine group Sembcorp Industries (SCIL.SI) said on Wednesday it was signing three memoranda of understanding to further expand its water business in China. However, the value was not disclosed.
Water treatment firm Hyflux (HYFL.SI) said on Tuesday ground works had started at Singapore’s second desalination plant, which will add 318,500 cubic metres of desalinated water per day to the city-state’s water supply.
Property stocks: Singapore real estate developers may be in focus after the Straits Times reported that more than 10,000 new private homes are expected to enter the market over the rest of the year, citing a report by property consultancy Savills.
