Categorized | Singapore Trading News

Singapore Stocks-May fall on US budget stalemate; SMRT in focus

Singapore shares were likely to fall on Tuesday, following losses on Wall Street overnight amid concerns over a stalemate on the U.S. budget and fears that euro zone debt woes could spread to Italy.

Singapore public transport operators SBS Transit and SMRT may be in focus after both companies said they had submitted applications to increase bus and subway fares due to rising costs.

Wall St records worst day in a month, VIX jumps > Bonds rally as fears emerge over Italy > Euro shaken by debt crisis; dollar benefits > Gold rises for sixth day on euro zone fears > Oil falls on concerns about demand slowing

Stocks and factors to watch:

— GOLDEN AGRI-RESOURCES

– Palm oil firm Golden Agri-Resources said its subsidiary PT Purimas Sasmita has acquired a 2 percent stake in PT Sinar Mas Agro Resouces and Technology for about $47.5 million.

— CHEUNG WOH TECHNOLOGIES

– Precision stamping firm Cheung Who Technologies said its net profit for the three months ended May 31 fell 54.5 percent to S$2.9 million from S$6.3 million a year earlier, partly due to rising costs and expenses.

– Singapore’s benchmark Straits Times Index fell 1.08 percent on Monday to 3,117.37 points.

– The Dow Jones industrial average lost 1.2 percent to finish at 12,505.76. The Standard & Poor’s 500 Index sank 1.81 percent to 1,319.49. The Nasdaq Composite Index tumbled 2 percent to 2,802.62.

Adapted from Reuters.

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Symbol Bid Ask Spread
EURUSD 1.18270 1.18290 2
GBPUSD 1.31700 1.31730 3
USDCAD 1.24820 1.24850 3
USDJPY 112.420 112.440 2
USDCHF 0.97540 0.97570 3
AUDUSD 0.78650 0.78680 3
NZDUSD 0.70220 0.70270 5
EURGBP 0.89790 0.89820 3
EURCHF 1.15380 1.15410 3
EURJPY 132.970 133.000 3
AUDJPY 88.420 88.470 5
GBPJPY 148.060 148.120 6
XAUUSD 1285.85 1286.25 40
XAGUSD 16.979 17.029 5