Singapore’s benchmark Straits Times Index rose 0.38% to 2,844.35 points on Tuesday.

US stocks sank last night, driven lower as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery.

Here are some stocks and factors to watch:

Wilmar International, the world’s biggest listed palm oil firm, denied media reports that it had colluded with tax officials to obtain fraudulent tax refunds for its operations in Indonesia.

Chinese fishing company, China Fishery Group, said it has acquired the entire share capital of a Peruvian fishing company, Pesquera Alejandria, for a total consideration of US$95 million.

United Envirotech, the environmental engineering company, said it posted a full-year net income of $14.9 million, compared with $3.7 million a year earlier. United Envirotech climbed 3.3% to 31 cents.

United Fiber System: The Singapore-based construction company and producer of pulp and woodchips said Falcon Capital Global Holding, a US-based fund management company, agreed to buy a 53% stake in the company for $178 million. Separately, United Fiber said it will buy PT Kutai Chipmill, a pulp and paper producer based in Indonesia. United Fiber last traded at 5.5 cents on May 14.

Viking Offshore and Marine: The provider of engineering services to the oil and gas industry said it agreed to sell its stakes in Tung Lok Restaurants 2000 and Old Chang Kee for $6.99 million. Viking Offshore rose 2.5% to 20.5 cents. Tung Lok surged 11% to 19.5 cents when it last traded on May 17. Old Chang Kee decreased 6.3% to 30 cents.

See Hup Seng says it plans to acquire the remaining 49% stake in TAT Petroleum for $28.4 million to strengthen the group’s earnings base. See Hup Seng already owns equity interests of 51% in TAT Petroleum.