Stocks in Asia are set for a muted start to the week with some major markets closed for a holiday and inflation concerns resurfacing. The dollar slipped versus major peers. Australian futures pointed lower, while those in Hong Kong also fell earlier. Markets in Japan and China are shut for holidays. U.S. stocks dropped from a record Friday, with economic data showing potential inflation pressures and hawkish remarks from a Federal Reserve official. Still, the S&P 500 Index capped its biggest monthly rally since November.

SG

Based on Floatel International's financial results for Q4 2020 and Q1 2021, the net financial impact on Keppel Corp will be around S$187 million, the mainboard-listed conglomerate said on Friday night. As a result of equity accounting, the carrying value of Keppel Corporation's investment in offshore vessel company Floatel will thus almost triple to about S$284 million, from some S$96 million as at Dec 31, 2020.

Tuan Sing Holdings' 44.5 per cent-owned associated company Gultech China has agreed to sell 13 per cent of the shares it holds in a printed circuit board (PCB) supplier, which is evaluating a possible listing in China. The transaction price of 435 million yuan (S$89 million) implies a valuation of about 3.35 billion yuan for the PCB firm, Gultech (Jiangsu) Electronics (GJE), Tuan Sing: T24 0% said in a filing released on Sunday.

On Thursday, YZJ had announced an 89 per cent increase in net profit for Q1 2021 - to 761.7 million yuan (S$156.1 million) from 403.8 million yuan in the corresponding period of the year before. YZJ was able to secure orders for 54 vessels worth US$1.8 billion, bringing its outstanding order book to US$6.6 billion.

UOB is considering downsizing its office space as hybrid work arrangements gain momentum, but the bank's chief executive officer and deputy chairman Wee Ee Cheong does not expect too significant a reduction in real estate.

DBS's latest set of results marks the first time in the bank's history that its quarterly net profit crossed the S$2 billion mark. In its pre-market filing on Friday, Singapore's largest bank attributed its record first-quarter performance mainly to sustained inflows into current and savings accounts, as well as broad-based loan growth. The bank also declared an interim dividend of 18 Singapore cents per share.

US

Exxon Mobil Corp. reported Friday a first-quarter adjusted profit and revenue that rose above expectations, boosted by higher commodity prices and actions to cut costs. The oil and gas giant's stock slipped 0.5% in premarket trading, putting it on track to snap a five-day win streak in which it climbed 6.6%. The company swung to net income of $2.73 billion, or 64 cents a share, from a loss of $610 million, or 14 cents a share, in the year-ago period.

Berkshire Hathaway’s operating earnings rebounded as the conglomerate’s businesses recovered from the pandemic hit. Chairman Warren Buffett kept buying back Berkshire shares aggressively in the first quarter, but at a slightly slower pace. Berkshire reported operating income of $7.018 billion in the first quarter, up 20% from $5.871 billion in the same period a year ago. The conglomerate’s hodge-podge of businesses including insurance, transportation, utility, retail and manufacturing saw signs of a recovery amid the economy reopening.

Shares of Colgate-Palmolive Co. edged up 0.2% in premarket trading Friday, after the oral, person and home care and pet nutrition company reported first-quarter profit and sales that topped expectations and provided an in-line full-year outlook. Net income fell to $681 million, or 80 cents a share, from $715 million, or 83 cents a share, in the year-ago period.

Illinois Tool Works Inc. reported Friday profit and revenue that topped forecasts, boosted its full-year outlook and said it plans to buy back $1 billion of its stock this year. The multi-industry manufacturer's stock was still inactive in premarket trading. Net income rose to $671 million, or $2.11 a share, from $566 million, or $1.77 a share, in the year-ago period.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR