SINGAPORE, Aug 15 (Reuters) - Singapore shares may open higher on Monday, boosted by gains on Wall Street, but investors are likely to remain cautious after a big selloff last week.
Global emerging markets funds experienced outflows of around $7.7 billion over the last week, the biggest outflow after January 2008, UBS said in a morning note on Monday.
Genting Singapore may be in focus after it said on Friday that gross earnings from its casino-resort in the second quarter fell 34 percent from the previous three months, lagging behind rival Marina Bay Sands, as it was hit by lower win percentages in its premium players segment.
----------------------MARKET SNAPSHOT @ 0009 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1178.81 0.53% 6.170 USD/JPY 76.9 0.03% 0.020 10-YR US TSY YLD 2.2654 -- 0.005 SPOT GOLD 1730.09 -0.90% -15.770 US CRUDE85.51 0.15% 0.130 DOW JONES 11269.02 1.13% 125.71 ASIA ADRS 124.12 -0.31% -0.38 -------------------------------------------------------------
> Wild week on Wall St ends with subdued gains > US bonds have best week since 08 on Europe, Fed > Euro, dollar could rally further vs Swiss franc > Gold falls 1.5 pct as Wall Street revives > Crude stays mostly steady after slight fall
Stocks and factors to watch:
-- UNITED OVERSEAS BANK
- United Overseas Bank , Singapore's third-largest lender, posted a better-than-expected 5.6 percent rise in quarterly profit but warned that Asia could be hit by a pullback in global liquidity and credit in coming months.
-- NEPTUNE ORIENT LINES
- Neptune Orient Lines, the world's seventh largest container shipping firm, posted a net loss for the second consecutive quarter and said it expects to report a full-year loss if conditions in the shipping industry do not improve.
It reported a net loss of $57 million in April-June, compared to a net profit of $100 million a year ago, but was better than the average of analysts' expectations of a net loss of $62.7 million for the quarter.
-- KEPPEL CORP
- Keppel Corp, the world's largest rig-builder expects demand for rigs to remain sustainable as long as oil prices remained above $80 a barrel, the head of its offshore and marine business said on Saturday.
-- STX OSV
- Offshore vessel builder STX OSV said its second quarter net profit fell 20 percent to 274 Norwegian crown million, down from 342 Norwegian crown million a year ago, dragged by a fall in revenue. However, the company said it expects revenue for 2011 to be no less than that of 2010.
- Singapore's benchmark Straits Times Index rose 1.94 percent on Friday to 2,850.59 points.
- The Dow Jones industrial average gained 1.13 percent at 11,269.02. The Standard & Poor's 500 Index rose 0.53 oercent to 1,178.81. The Nasdaq Composite Index climbed 0.61 percent to 2,507.98.
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment