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SPH’s 1Q12 Profit Edges Down 4.7% -
Singapore Press Holdings’ (SPH) profit edged down 4.7% to $97.5 million for the first quarter ended 30 November. The dip in profit was largely due to lower investment income, despite the rise in recurring earnings. Asian shares were mostly higher Wednesday, tracking gains on Wall Street where US stocks closed at their highest level since July amid positive corporate earnings and consumer spending data.
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Sydney added 0.93 percent, Tokyo was up 0.22 percent, while Seoul edged down 0.32 percent.
Hong Kong was 0.15 percent higher while mainland Chinese shares dipped into negative territory, slipping 0.16 percent. Markets and the euro were also buoyed by news that ratings agency Fitch was not planning to strip France of its top triple-A rating for 2012, easing persistent concerns over Europe's fiscal woes.
Singapore shares may higher on Wednesday after U.S. stocks rose to a five-month high on hopes for strong corporate earnings, though investors are likely to remain cautious in the near term due to the debt woes in the euro zone.
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