Singapore Stocks-Poor SIA earnings may weigh
SINGAPORE, Feb 3 (Reuters) - Singapore shares may open lower with Singapore Airlines stock likely to be under pressure after poor earnings while investors will be reluctant to take fresh positions ahead of key U.S. employment report on Friday.
SIA posted a worse-than-expected 53 percent fall in its third quarter net profit and as it expects to see a further deterioration in its business.
----------------------MARKET SNAPSHOT @ 0007 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1325.54 0.11% 1.450 USD/JPY 76.13 -0.13% -0.100 10-YR US TSY YLD 1.823 -- 0.000 SPOT GOLD 1756.39 -0.17% -3.000 US CRUDE 96.61 0.26% 0.240 DOW JONES 12705.41 -0.09% -11.05 ASIA ADRS 127.22 0.66% 0.84 -------------------------------------------------------------
> Wall St holds steady as payrolls set to test rally > Prices little changed on jobs hope, Europe concerns > G3 currencies subdued ahead of US jobs test > Gold rises to two-month high, awaits U.S. payrolls > Brent up, US crude down, premium near 3-month high
Stocks and factors to watch:
-- STARHUB LTD
- StarHub Ltd, Singapore's second largest telecom firm, on Thursday posted a 15 percent rise in fourth quarter net profit and said it expects operating revenue to grow in the low- single-digit range this year.
-- GLOBAL LOGISTIC PROPERTIES LTD
- Global Logistic Properties, which owns and operates warehouses in China and Japan, said on Thursday it plans to build a multi-tenant logistics facility in Japan's Soja City at an estimated cost of $103 million.
-- KEPPEL CORP LTD
- Rig builder Keppel Corp said it has increased the limit of its multi-currency medium term note programme to $1.2 billion from $600 million. Proceeds raised will be used for corporate or working capital purposes.
-- CHOSEN HOLDINGS LTD
- Chosen, which makes components for electronics, said it is likely to report a loss for the six months ended December, due to write-offs for its assets and expenses resulting for the floods in Thailand.
- Singapore's benchmark Straits Times Index fell 0.13 percent on Thursday to 2,901.04 points.
- The Dow Jones industrial average lost 0.09 percent at 12,705.41. The Standard & Poor's 500 Index gained 0.11 percent to 1,325.54. The Nasdaq Composite Index rose 0.40 percent to 2,859.68.
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