Singapore shares are expected to open higher on Wednesday following gains on Wall Street, which were led by shares of Goldman Sachs, and on strong quarterly results from some Singaporean property counters.

Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.11% on Tuesday to 2,948.61 points.

Singapore’s CapitaCommercial Trust, which is managed by CapitaLand (CATL.SI), said on Wednesday its distributable income for the second quarter rose 15.9% due to higher rental contribution and lower property operating expenses.

Singapore’s third-largest property developer, Keppel Land (KLAN.SI), reported on Tuesday a 20% rise in its second quarter net profit, thanks to a robust rise in property prices and apartment sales. Keppel Land, the property arm of the world’s largest rig builder Keppel Corp (KPLM.SI), posted a net profit of $70 million ($50.98 million) up from $58.2 million a year earlier.

ST Engineering (STEG.SI) said on Tuesday its aerospace arm, ST Aerospace, will set up a joint venture with a Chinese firm, with a total investment of US$99 million ($136.1 million). The joint venture, which will be 49%-owned by ST Aerospace, will establish a commercial aircraft heavy maintenance facility in Guangzhou, China.

Neptune Orient Lines (NOL SP): Southeast Asia’s biggest container carrier said it received a US$150 million ($206 million) term loan from Oversea-Chinese Banking Corp. and ING Bank. The loan will be used to partly finance the acquisition of two new ships, it said.

Osim International (OSIM SP): Asia’s biggest maker of massage chairs outside of Japan said second-quarter net income more than doubled to $12.1 million. Sales in the three months rose 12% to $131 million.

Singapore-listed aluminium product manufacturer Midas Holdings said on Wednesday it has secured two contracts worth 130 million yuan ($26.34 million) to supply aluminium alloy extrusion profiles for 480 train cars in China.

Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, rose 1.7% in London yesterday, taking its three-day advance to 3.6%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.3% to $1.51. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, was unchanged at $13.10. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, fell 1.8% to 28 cents.