Singapore shares may open higher on Wednesday, extending gains from the previous session, after US and European stocks rallied on better-than-expected economic data from China, Germany and the United States.

The benchmark Straits Times Index gained 1.59% on Tuesday to 2,688.36 points. Here are some stocks and factors to watch, says Reuters:

Property firm Yoma Strategic Holdings may be in focus after announcing its plan to acquire the rights to develop an area known as Star City, about six miles from Yangon, Myanmar. The company said it intended to develop more than 9,000 units of apartments and houses, shopping and commercial areas.

Keppel Corp, the world’s largest rig builder, said on Tuesday its subsidiary had agreed to acquire a 49.9% stake in Norway’s OWEC Tower, a designer of offshore wind turbine foundations, for about 61 million norwegian crowns ($13.22 million).

Chinese shipbuilder Yangzijiang said on Tuesday it now owned a 45% stake worth US$49.5 million ($63.5 million) in YZJ Offshore Engineering, a joint venture between the company and Qatar Investment Corporation.

Technics Oil and Gas said on Tuesday it had won two contracts worth a total of $10.1 million. The first order is to provide the super structure for a jack-up rig in Russia, while the second one is to manufacture and supply well testing equipment for a Chinese customer.