Singapore stocks range-bound; StarHub results eyed

Wifi service provider Nera Telecommunications jumped 4 percent after it won contracts worth S$14.9 million .

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SGX Logo. Reuters

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

At 0540 GMT, the Straits Times Index added 0.05 percent or 2 points to 3,339. It ended 0.26 percent higher on Tuesday, taking the year-to-date gains to 16 percent.

Index heavyweight DBS, which reports earnings on Friday, rose 0.4 percent. Sembcorp Industries dropped 1.3 percent ahead of results on Thursday.

CapitaLand was unchanged and Genting Singapore gained 1.3 percent, before their second-quarter earnings, also due on Thursday. StarHub, due to report on Wednesday, was unchanged.

Wifi service provider Nera Telecommunications jumped 4 percent after it won contracts worth S$14.9 million for both the Network Infrastructure and Wireless Infrastructure Network businesses.

Shares in K1 Ventures, a diversified investment holding company, rose 2.7 percent after it reported a 6.7 percent rise in full-year net profit due to a fair value gain.

CWT, which is in take-over talks with China's HNA Holding, added 1.4 percent after posting a huge surge in its second-quarter net profit, powered by growth at its engineering and commodity marketing businesses.

About 1.2 billion shares worth S$607 million changed hands, with gainers outnumbering losers 199 to 170.

Meanwhile, Asian shares climbed along with the U.S. stock futures following steallar earnings from technology giant Apple.

Apple reported better-than-expected iPhone sales, revenue and earnings per share and signaled its upcoming 10th-anniversary phone is on schedule.

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.

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