Categorized | Singapore Trading News

Singapore Stocks-Set to open lower; GLP in focus

Singapore stocks are likely
to open lower on Monday, as Asian markets will be on the edge
amid news that Washington is struggling to reach an agreement
with lawmakers over the U.S. debt ceiling.
Global Logistic Properties , which owns warehouses
in Japan and China, may be in focus after Singapore’s regulator
said it would not take action against the firm for not
disclosing information about a non-competition arrangement with
ProLogis .

-U.S. futures slump as debt talks produce no deal
-U.S. bond prices fall as debt deal still not reached
-U.S. dollar dips as debt deadlock weighs
-Gold gains 1 pct as worries over debt persist
-Brent crude up on EU aid to Greece, spread play

Stocks and factors to watch:
– Sembcorp Marine said on Friday its wholly-owned subsidiary
Jurong Shipyard has filed a notice of arbitration against its
former auditor Ernst & Young.

– Singapore Telecommunications said on Friday it will inject
S$1.89 billion ($1.56 billion) worth of infrastructure assets to
the trustee-manager of NetLink Trust, a business trust owned by
the firm.

– Singapore Exchange said on Friday it is proposing a new
algorithm to calculate the way trading orders are matched during
opening and closing periods and during adjustment phases.

– Singapore oil and gas firm Ramba Energy said on Monday the
net potential present worth of its 41 percent stake in
Indonesia’s Lemang Block is estimated to be around $193 million.

– Singapore’s Rotary Engineering said on Monday it has
secured 13 contracts originating from Singapore and the region
worth S$40 million from April to July this year.

– Singapore’s benchmark Straits Times Index rose
1.42 percent on Friday to 3,182.95 points.
– The Dow Jones industrial average fell 0.34 percent
to finish at 12,681.16. The Standard & Poor’s 500 Index
advanced 0.09 percent to 1,345.02. The Nasdaq Composite Index

rose 0.86 percent to 2,858.83.

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