Singapore stocks are set to open lower on Thursday as weakness in the outlook for major U.S. technology companies fanned worries about global economic growth and added to concerns that the city-state could sink into a technical recession following weak exports data.
Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.15% on Wednesday to 2,828.53 points. Here are some stocks and factors to watch:
Singapore’s CapitaLand (CATL.SI), Southeast Asia’s largest property developer, may be in focus after announcing it had acquired an additional 50% interest in an office building in Shanghai, China, for 298 million yuan (US$56.1 million).
Singapore’s second-largest lender, Oversea-Chinese Banking Corporation (OCBC.SI), said on Wednesday it has set up a US$5 billion ($6 billion) commercial-paper programme that will let it offer notes in the United States.
Singapore-listed Noble Group (NOBG.SI) announced the establishment of US$3 billion ($3.6 billion) medium-term note programme and has appointed J.P. Morgan as the arranger for the programme.
Singapore’s ASL Marine (ASLM.SI) said on Wednesday its fourth-quarter net profit fell 19% from a year earlier to $5.8 million, hurt partly by a decline in gross margin for shipbuilding and lower other operating income in the absence of gain in disposal of vessels.
