Singapore stocks muted ahead of next batch of earnings

Index heavyweight DBS, which reports earnings on Friday, rose 1.3 percent.

SGX Logo. Reuters

Singapore stocks were little changed on Tuesday, as investors awaited a slew of earnings this week.

At 0600 GMT, the Straits Times Index added 0.05 percent or 2 points to 3,331. It ended 0.04 percent lower on Monday, taking the year-to-date gains to 16 percent.

Index heavyweight DBS, which reports earnings on Friday, rose 1.3 percent. Sembcorp Industries dropped 0.3 percent ahead of results on Thursday.

CapitaLand gained 1.6 percent and Genting Singapore was unchanged, before their second-quarter earnings, also due on Thursday. StarHub, due to report on Wednesday, lost 0.7 percent.

Property developer Roxy-Pacific Holdings fell 1 percent after its net profit tumbled 26 percent in the second-quarter.

Singapore-based Swiber Holdings, which embarked on a court-led restructuring, said it will default on its upcoming coupon payment due on August 2.

Shares in Soilbuild Construction Group fell as much as 2.4 percent after the builder reported a 70 percent slump in second-quarter net profit due to lower revenue contributions from its major Singapore projects and increased investments.

About 1.7 billion shares worth S$697 million changed hands, with gainers outnumbering losers 189 to 180.

Meanwhile, Asian shares gained after positive economic data around the globe boosted risk appetite.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 percent, led by gains in financials and energy shares.

Investors will also be keeping a close eye on data, including the Reserve Bank of India's meeting on Wednesday, at which it is expected to cut rates; Bank of England on Thursday, where it is likely to leave rates unchanged and U.S. jobs data on Friday.