CFA Society Singapore
SINGAPORE (April 27): Here are some stocks to watch this Thursday morning:
F&B and property group Yeo Hiap Seng reported 1Q earnings of nearly $139 million compared to $6.5 million a year ago. This was mainly due to gain on disposal of investment in Super Group of $138.4 million. Shares of Yeo Hiap Seng closed at $1.37 on Wednesday before the announcement.
Hong Leong Finance saw 1Q earnings rise 13.2% to $16.5 million from a year ago partly due to a decline in staff costs and a reduction in other operating expenses. Shares of Hong Leong Finance closed 1 cent higher at $2.76.
Duty Free International posted a 14.9% drop in earnings to RM17.8 million ($5.7 million) for the fourth quarter ended Feb 28, from RM20.9 million a year ago. Shares of Duty Free closed half a cent lower at 41.5 cents on Wednesday.
Advance SCT has posted earnings of $125,000 for the first quarter ended March 2017, reversing out of a net loss of $1.3 million a year ago. Revenue surged to $21.3 million in 1Q17, from $1.4 million a year ago. Shares of Advance SCT have been suspended from trading.
Rowsley swung to a net loss of $1.6 million for 1Q17 ended March from a profit of $4.8 million last year. Shares of Rowsley closed at 9 cents on Wednesday before the announcement.
US stocks ticked lower on Wednesday following two sessions of strong gains as strong corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut. The Dow Jones Industrial Average fell 21.03 points, or 0.1%, to 20,975.09, the S&P 500 lost 1.16 points, or 0.05%, to 2,387.45 and the Nasdaq Composite dropped 0.27 point to 6,025.23.
Singapore stocks ended 0.3% higher on Wednesday, with the Straits Times Index moving up 9.83 points to 3,173.76. About 2.66 billion shares worth S$1.35 billion in total changed hands. Gainers outnumbered losers 260 to 204.