Singapore shares may see a weak start on Friday, as US stocks ended little changed overnight and economic concerns keep global markets subdued.
Singapore’s benchmark Straits Times Index (.FTSTI) fell 0.31% on Thursday to 2,943.55 points.
Singapore Airlines (SIAL.SI), the world’s second-biggest airline by market value, said on Thursday it filled 71% of the space available on its planes for passengers and cargo in June. The figure was higher than the 69.1% recorded in May and 67.6% in June last year.
M1 (MONE.SI), Singapore’s smallest mobile phone operator, said its second quarter net profit rose 10% to $40.8 million from the same period a year earlier, due to higher service revenue and handset sales. Its April-June operating revenue was $223 million, 17.1% higher than $190.5 million a year ago.
Singapore bus and taxi operator ComfortDelGro (CMDG.SI) said it has made a A$38.8 million ($47 million) takeover bid for Swan Taxis, the largest provider of taxi services in Perth. The move is aimed at extending ComfortDelGro’s presence in Australia.
Singapore retail sales fell 0.9% in May from the previous month on a seasonally-adjusted basis, the fourth monthly fall as demand for cars continued to slide due to soaring prices of certificates of entitlement.
Cambridge Industrial Trust (CREIT SP): The industrial landlord said net income for the second quarter, ended June 30, was $16.4 million compared with $10.7 million the previous quarter. The stock was unchanged at 51 cents.
Chasen Holdings (CHLD SP): The provider of relocation, packing and warehousing services said it has won relocation contracts of about $2.5 million. The stock declined 1.3% to 37.5 cents.
Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities including corn and copper, rose 0.8% in New York yesterday.
Noble Group (NOBL SP), a Hong Kong-based commodity supplier, fell 1.7% to $1.71. Olam International (OLAM SP), a supplier of agricultural commodities, slipped 1.1% to $2.62.
Palm-oil suppliers: Crude palm oil for September delivery advanced 2.4% in Kuala Lumpur yesterday.
Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, was unchanged at 54 cents. Indofood Agri Resources (IFAR SP), the palm-plantation unit of Indonesia’s biggest noodle maker, declined 1.4% to $2.13. Wilmar International (WIL SP), the world’s biggest palm-oil trader, advanced 1% to $6.16.
Shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 0.5% in London yesterday.
Cosco Corp. Singapore (COS SP), the China-based shipbuilder that also operates bulk carriers, declined 2% $1.51. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, retreated 0.5% to $12.88.

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