Singapore share prices are expected to trade higher next week due to projected robust corporate earnings by blue chip firms and the end of the World Cup soccer tournament, dealers said.
"For next week, half-year results from strong companies will give support to the market," said a dealer with a local brokerage.
"Blue chips will likely get an uplift next week, when the GDP (gross domestic product) figures on Monday will give us a hint of how companies' earnings will be," Fraser Securities' research head Najeeb Jarhom said.
The earnings season is due to kick off with Singapore Press Holdings (SPH) announcing its third-quarter results on Tuesday.
Dealers also expect trading volume to improve as investors return to the market after the end of the World Cup soccer tournament being held in Germany.
Millions of fans in football-mad Asia, including stock market dealers and investors, have to stay awake into the early hours of the morning to watch the matches because of the time difference with Europe.
Many have gone on leave or come to the office red-eyed for lack of sleep.
For the week ending July 7, the Straits Times Index closed at 2,445.13, up 9.74 points or 0.40 percent from the previous week.
Average daily volume totalled 1.11 billion shares worth 938.63 million Singapore dollars (594.07 million US), up from 937.65 million shares worth 907.09 million Singapore dollars the week before.
Comments
Comments are closed.