Singapore shares closed lower yesterday with the blue-chip Straits Times Index down 5.57 points to 2,971.6. Volume was 2.02 billion shares worth $1.48 billion. Losers led gainers 314 to 187.

US stocks eked out a gain last night as investors looked ahead to earnings from big banks and tech bellwethers, even as disappointing revenue from Alcoa Inc acted as a headwind. Here are some stocks and factors to watch:

Singapore says its economy soared in the first three months of 2010 as manufacturing more than doubled. The Trade and Industry Ministry said today that gross domestic product grew an annualised, seasonally adjusted 32.1% in the first quarter, bouncing back from a 2.8% drop in the fourth quarter of 2009. The ministry says the economy grew 13.1% in the first quarter from the same period a year ago. The ministry says it raised its 2010 GDP forecast to between 7% and 9%.

CapitaMalls Asia says it posted profit after tax and minority interests (PATMI) of $96.8 million for 1Q 2010, in its first quarterly results since its listing on Nov 25. Revenue under management was $452.9 million for 1Q 2010, 39% higher than the $326.3 million for 1Q 2009.

Singapore Press Holdings (SPH) reported net profit for the second quarter ended February of S$113.3 million, up 30 per cent compared to the same period last year. Group operating revenue for the quarter was S$318.7 million, an 11 per cent increase from the same period a year ago. Company directors have declared an interim dividend of 7 cents per share which will be paid on May 21.

BH Global Marine said that it plans to offer Taiwan Depository Receipts (TDR) for listing on the Taiwan Stock Exchange. The proposed issue size represents up to 60 million new BH Global shares and the bulk of the TDR proceeds will be used to set up a galvanized steel wire manufacturing plant in Oman.

Tiger Airways Holdings said for the month of March 2010, 488,000 passengers chose to fly with Tiger Airways, a 51% increase over last year. Average Load Factors – increased 3 percentage points to 84%. For the financial year ended 31 March 2010, total passenger numbers grew to a record breaking 4.9 million, an increase of 54% over the preceding twelve months. Average Load Factors increased 6 percentage points to 85%.

Noble Group has started up its new Oilseed Processing Complex in Argentina. The complex, built adjacent to the Timbúes Port Grain Terminal, is Noble’s first South American oilseed processing facility.

Wee Hur Holdings said that its subsidiary, Wee Hur Construction Pte Ltd, has settled the suit brought against the company by the owners of 15 Fernhill Crescent.

Miyoshi Precision grew its first-half net earnings from $2.9 million to $6.5 million on the back of a 47.8% revenue growth from $51.1 million to $75.6 million. The group also increased its net cash from operating activities from $5.8 million to $8.3 million. Cash and cash equivalents at half-time stood at $32.1 million.

DBS Bank will commit over $1.5 million to participate in the upcoming World Expo 2010 in Shanghai, raising its brand presence in an important China growth market which will see a ramping up of business and significant hires this year.