Singapore shares are likely to fall on Thursday after stocks on Wall Street tumbled on disappointing earnings and concerns over a deadlock in talks over U.S. debt ceiling.
Singapore’s benchmark Straits Times Index <.FTSTI> was 0.22% higher on Wednesday at 3,193.54 points. Here are some stocks and factors to watch:
DBS (DBSM.SI), Southeast Asia’s biggest bank, may be in focus after it posted a quarterly profit that was slightly above analyst forecasts, helped by strong loan growth as it rebounded from a loss a year ago when it took a goodwill charge.
Property developer City Developments (CTDM.SI) said it has acquired a site in Suzhou, China, for about $167 million. It will build high-end residential apartments, an office tower, a retail mall and a luxury hotel on the site.
Singapore’s public transport operator SMRT Corp (SMRT.SI) said its first quarter net profit fell 8.9% to $34.8 million from $38.2 million a year ago, partly due to a rise in energy costs, as well as repair and maintenance costs.
Mapletree Industrial Trust (MAPI.SI), which owns factories and other industrial assets in Singapore, said on Thursday it has priced an offering of new units at $1.09 a unit, which was at the top end of an indicative range.
Straits Asia Resources (STRL.SI) said its second quarter net profit surged 68% to $38.9 million from $23.2 million a year earlier, helped by a rise in average selling price of coal.
