CFA Society Singapore
SINGAPORE (Feb 14): Here are some stocks that could move the market this Tuesday morning.
Oversea-Chinese Banking Corporation reported a 18% fall in earnings to $789 million for the 4Q16 ended Dec from a year ago as net interest income fell 7% to $1.25 billion on lower net interest margin from the continued compression in customer loan yields. OCBC closed at $9.75 on Monday.
Jumbo Group has announced earnings of $2.6 million for the first quarter ended Dec 31, up 26.1% from $2.1 million a year ago on higher revenue. Revenue rose 5.8% to $32.7 million from $30.9 million. Shares of Jumbo closed 1 cent lower at 72 cents on Monday.
Hyflux subsidiary Hydrochem Saudi Limited has signed an MOU to develop three seawater reverse osmosis desalination plants in Saudi Arabia. The desalination plants are valued at a combined estimate of $260 million. Hyflux closed at 58 cents on Monday.
Old Chang Kee posted a 11.1% rise in 3Q earnings to $1.4 million from $1.2 million a year ago on higher sales. Revenue for the three months ended Dec rose 7.5% to $20.3 million from a year ago. Share of Old Chang Kee closed 1 cent higher at 84 cents.
Metro Holdings posted earnings of $20.5 million for 3Q17, a 63.3% decline from 3Q16. This was largely due to a $48.9 million decrease in share of results of associates from lower sales recognition on handover of properties for the group’s Nanchang project. Shares of Metro closed at $1.16 on Monday.
Wall Street stocks sprinted to another day of fresh records Monday, extending last week's rally on expectations President Donald Trump will soon present his promised tax cut plan. The Dow Jones Industrial Average climbed 0.7% to close the day at 20,412.16. The broad-based S&P 500 gained 0.5% to end 2,328.25, as did the tech-rich Nasdaq Composite Index up 0.5% to 5,763.96.
The Straits Times Index finished Tuesday up 11.24 points or 0.4% at 3,111.63. Some 3.26 billion shares worth $1.33 billion were done with 305 counters advancing and 203 in retreat.