Singapore shares may rise on Monday as Wall Street cheered positive data from the US. and China, easing previous fears about the pace of the global economic recovery.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.36% on Thursday to 3,022.28 points. Here are some stocks and factors to watch:
Genting Singapore Plc (GENS SP): Singapore’s two casino-resorts yesterday stopped running free bus services from the island’s downtown and the suburbs to comply with an order by the city-state’s regulator. The buses will continue running to the airport and certain hotels, the newspaper reported. Genting, which owns of one of the two casino resorts, rose 0.6% to $1.83.
Straits Trading (STCM.SI) said it several firms have expressed interest in acquiring its wholly-owned subsidiary and hotel management arm Rendezvous Hotels International. The firm said that discussions were still ongoing and no binding agreements have been made.
ComfortDelGro (CMDG.SI) said on Monday it had received acceptances representing more than 93% of all shares in Swan Taxis, and the Australian Competition and Consumer Commission would not oppose its acquisition of Swan Taxis.
Ziwo Holdings (ZIWO.SI) said it is considering a proposal to issue Taiwan depository receipts as it would diversify the firm’s shareholder base and provide an additional fundraising platform.
Orchard Parade (ORCH.SI) said on Thursday its subsidiary, OPH Marymount, will enter into a joint venture with Tuas Technology Park to acquire and develop land parcels, which had a total tender price of $122 million.
Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 0.7% in New York on Sept 10. Noble Group (NOBL SP), a Hong Kong-based commodities supplier, climbed 1.2% to $1.70. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, advanced 2.6% to $2.79.
Shipping companies: The Baltic Dry Index of commodity-shipping rates gained 0.2% in London on Sept 10, taking its 10-day increase to 11%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, rose 1.2% to $1.64. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, gained 0.2% to $13.10. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 26.5 cents.

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