Singapore's benchmark Straits Times Index rose 1.7% to 2,696.02 points on Wednesday.

Singapore stocks are expected to face selling pressure on Thursday following an overnight drop on Wall Street that sent the Dow Jones industrial average below the 10,000 level for the first time since Feb 8.

News reports suggesting China was reassessing its euro-zone debt holdings prompted US equity markets to give up early gains as investors took profits.

CapitaCommercial Trust, a major Singapore office landlord, will spend $92 million over four years to upgrade one of its flagship properties, Six Battery Road.

Boustead Singapore, the infrastructure-related engineering services and geo-spatial technology group, says it achieved a revenue of $438.4 million and net profit attributable of $43.1 million, a decrease of 15% and 28% respectively for the year ended 31 March 2010 (FY2010).

Biosensors International, the Singapore-based maker of drug-coated stents that treat blocked arteries, reported fourth-quarter net income of US$9.1 million ($12.8 million), compared with US$379,000 a year earlier, as sales climbed.

Transcu Group, the life sciences company engaged in the research, development and commercialisation of cutting-edge technologies, has narrowed its full-year net loss to US$29.4 million ($41.5 million) in FY10 from US$78.3 million in FY09 as revenue increased by 77.8% to US$8.2 million from US$4.6 million, mainly due to higher sales from the cosmetic business through branding and advertising.

Healthcare providers such as Raffles Medical, Parkway, Thomson Medical and Healthway may get a boost after the local press warned that said Singapore could be on the verge of a flu epidemic.

Singapore food retailer BreadTalk is planning a massive Asia-wide expansion of its cafes and bakeries that it hopes will result in China contributing to over half of revenues in 2-3 years.

China Hongxing Sports, the Fujian-based sporting goods maker received 504 million yuan ($103.8 million) worth of orders at a trade fair.

GP Batteries International, the Singapore-based battery maker reported fourth-quarter net income of $7.9 million, compared with a loss of $2.7 million a year earlier.

Pan Hong Property Group, the China-based property developer said full-year net income was 171.5 million yuan, compared with a 37 million loss a year earlier.

Parkway Holdings, Asia’s biggest publicly traded hospital operator said a substantial shareholder requested a trading halt, pending the release of an announcement.

STX Pan Ocean Co., South Korea’s largest bulk carrier, raised its investment by US$29.2 million ($41.1 million) in its LNG unit to help finance shipbuilding and to expand its business.

Berlian Laju Tanker TBK, the Indonesian shipping company, said it got 100% commitment for its rights shares.