SG Market: Spore shares likely to continue to come under selling pressure following weak showing on Wall Street as well as uninspiring results from Venture, Hyflux, Raffles Edu & HTL Int’l. Downside risk for STI is at 3070 while overhead resistance lies at 3120. Momentum indicators, Stochastics, ADX & MACD all pointing to bearish undertone in near term.
Stocks in focus:
*Venture 1Q net profit +4.3% yoy to $41.2m, revenue -8.1% to $587.6m
*Hyflux 1Q net profit +15% yoy to $7.4m but revenue -14% to $86.8m. However, comprehensive income plunged 42% to $2.9m while operating cash flow remained in the red at -$54.3m.
*Raffles Education 3Q net profit -74% yoy to $2.4m, revenue -15% to $37.9m.
*HTL Hldgs 1Q net profit came in at $109k vs $9.8m last yr, revenue -10.3% to $135.6m.
*China Aviation Oil 1Q net profit +67% yoy to US$21.5m, revenue doubled to US$2b.
*Chuan Hup makes $0.50 mandatory share offer for PCI
*Kim Eng: Maybank makes $3.10 mandatory offer for rest of co after taking stake above 50%.
No comments:
Post a Comment