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SINGAPORE (May 12): Here are some stocks to watch this Friday morning:
ST Engineering announced 1Q17 earnings of $103.4 mil, 6% lower from $110.2 million reported in the previous year. Group revenue for the quarter was $1.5 billion, 5% down from $1.6 billion.
Agribusiness Wilmar International reported a 51% rise in 1Q earnings to US$361.6 million ($509 million). Chairman and CEO Kuok Khoon Hong also announced that the group is carrying out an internal restructuring of its China operations with the possibility of a separate listing.
Thai Beverage saw 1H earnings fall 1.8% to 14.3 billion baht ($580 million) from a year ago as the King’s mourning period had a longer effect than expected.
Property group City Developments announced $85.5 million in earnings for the 1Q ended March, 18.9% lower than the $105.3 million it posted in the same quarter a year ago.
Haw Par Corp, the manufacturer of Tiger Balm ointment with interest in the leisure and property sectors, has announced 1Q17 earnings of $17.3 million, up 21.8% from the $14.2 million the year before.
Property group Wing Tai reported a more than trebling of 3Q earnings to $7.4 million from $2.1 million a year ago. Group revenue for the 3Q ended March fell 35% to $73.5 million but share of profits of associated and JV companies rose 24% to $16.9 million.
US stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's stirred fears that consumers are not spending enough to drive strong economic growth. The Dow Jones Industrial Average fell 0.11% to end at 20,919.42 points and the S&P 500 lost or 0.22% to 2,394.44. The Nasdaq Composite dropped 0.22% to 6,115.96.
The Straits Times Index (STI) rose to its highest level in about 22 months, up 21.14 points or 0.65% to 3,271.11. Turnover was a heavy 2.1 billion units worth $1.9 billion but gains were not widespread - the advance-decline score excluding warrants was 239 to 269.