Singapore shares may open higher on Monday after Wall Street notched its fourth week of gains, as a rise in August business spending was seen as the latest sign the recovery is on firmer ground. Singapore’s benchmark Straits Times Index <.FTSTI> was up 0.31% on Friday to 3,092.68 points.

Here are some stocks and factors to watch:

Commodities firm Olam International (OLAM.SI) may be in focus after it said that it has raised its stake in dairy farmer NZ Farming Systems Uruguay to 78% for NZ$101.8 million ($98.8 million), bringing its total investment to NZ$120.3 million. Olam shares rose as much as 9.2% on Friday on news that it is in merger talks with larger rival Louis Dreyfus.

Hor Kew Corp. (HKC SP): The construction company and developer said it won a public housing contract, valued at $156 million, from the Singapore government. The stock increased 6.3% to 8.5 cents.

CapitaLand (CATL.SI), Southeast Asia’s largest property developer, said on Friday its unit Ascott (Mauritius) Company has raised its stake in Rattha Somerset Greenways to 64.38% from 60.16%.

Singapore-listed Renewable Energy Asia Group (REAG.SI), which operates wind farms, said on Friday it has allotted 100 million shares for placement, bringing the total number of issued shares to more than 620 million.

Singapore-listed China XLX Fertiliser (CXLX.SI) said on Monday it will construct a fourth plant for 3 billion yuan ($591.7 million), increasing its production capacity for urea to over 2 million tons per year.

Singapore-listed life sciences firm Transcu (TRSU.SI) said on Friday it made a net loss of US$3.1 million ($4.1 million) in the quarter ended June, narrowed from a loss of $7.3 million a year ago, mainly due to lower research and development expenses as well as selling and administrative costs.

Shipping companies: The Baltic Dry Index of commodity-shipping rates fell 0.7% in London on Sept. 24, taking its 10-day decline to 18%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, rose 0.5% to $1.86. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 29 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 1.1% to $13.30.

China Dairy Group (CDG SP): The maker of milk products said it expects to post net losses in the third quarter and the full year for 2010, citing rising prices of raw materials and increased competition in China’s milk industry. The stock gained 7.1% to 15 cents.