SINGAPORE (Nov 24): China's surprise interest-rate cut last Friday and expectations that the European Central Bank will do more to help eurozone economies may give Singapore shares a boost today.

Gains on Wall Street last Friday are also seen as a positive signal for the local market.

The Dow Jones Industrial Average gained 0.5% to 17,810, the S&P 500 added 0.6% to 2,064 and the Nasdaq Composite put on 0.2% to 4,713.

In Singapore, the Straits Times Index closed 0.9% higher at 3,345.32 last Friday.

COMPANIES IN THE NEWS:

China Fishery Group's earnings for the full year ended Sept 28 fell 20.3% to US$61.9 million ($77.4 million) as higher finance costs and income-tax expenses offset an improvement in revenue.

Finance expenses increased 60% to US$80.8 million following the consolidation of senior notes issued by Copeinca ASA, a Peruvian fishing company that China Fishery acquired last year using debt and equity.

An absence of a fair-value gain related to the acquisition also affected the industrial fishing group's bottom line. It recognised a US$73.6-million non-cash gain last year on the Copeinca purchase.

China Fishery shares fell 1.5% to 32.5 cents last Friday.

The company's parent, Pacific Andes Resources Development, reported earnings of HK$953.4 million ($159 million) for the 12 months to Sept 28. That was 27.5% more than the HK$747.7 million earned in the previous year.

Pacific Andes shares declined 0.9% to 10.5 cents last Friday.

Mapletree Logistics Trust will spend about $25.2 million to buy a three-storey Grade-A warehouse in South Korea. The property is expected to generate a net property income yield of 7.8%.

Mapletree Logistics shares rose 1.3% to $1.185 last Friday.

Teho International is seeking to acquire a seven-storey industrial building at Macpherson Road to house its entire operations. The consideration for the property is $11.5 million.

Teho shares were not traded last Friday. They last closed at 19.5 cents.

Viva Industrial Trust will raise $15.6 million from a private placement to pare down its debt.

The industrial REIT will issue 20 million new shares at 78 cents each to Tan Phong Guan, the former owner of Jackson Square and Jackson Design Hub, two properties that it recently acquired for $111.5 million.  

Viva Industrial shares rose 0.6% to 80 cents last Friday.

Marco Polo Marine's September-quarter earnings fell 40% y-o-y to $2.5 million on lower revenue and higher expenses.

Marco Polo shares fell 3.2% to 30 cents last Friday.