29-11-2010 08:18:08Singapore Stocks-May see weak start, rigbuilders in focusNov 29 (Reuters) - Singapore shares may see a weak start on Monday after Wall Street fell on Friday, but news of an 85 billion euro rescue package for Ireland may lend some support.
Keppel Corp and Sembcorp Marine , the world's two largest rig-builders may be in focus after Brazilian state-run oil company Petrobras said shipyard Estaleiro Atlantico Sul (EAS) submitted the lowest bid in a tender for the building of seven of its drilling rigs.
----MARKET SNAPSHOT @ 2357 GMT -----
(INSTRUMENT LAST PCT CHG NET CHG)
S&P 500 <.SPX> 1189.4 -0.75% -8.950
USD/JPY 84.14 0.14% 0.120
10-YR US TSY YLD 2.8699 -- 0.000
SPOT GOLD 1358.14 -0.26% -3.590
US CRUDE 84.01 0.30% 0.240
DOW JONES <.DJI> 11092.00 -0.85% -95.28
ASIA ADRS <.BKAS> 133.29 -1.65% -2.23 -------------------------------------------------------------
> Materials lead Wall St slide on euro-debt woes. Bonds rise on euro zone contagion fears [US/] > Euro tentatively off two-mth lows on Irish aid
> Gold down in thin trade; poised for more drops. U.S. Oil dips on euro woes in thin volume trade
> Stocks and factors to watch:
-- RIG-BUILDERS - DMG & Partners said in a report bid prices submitted by Singapore-based yards Keppel and Sembcorp Marine for Petrobras' tender of seven drilling rigs were at least 10 percent higher than those submitted by Brazilian yards, which put Singapore yards at risk of losing out on projects. Among the two Singapore rigbuilders, Keppel has the lower-priced bid for Petrobras seven drillship package and two deepwater drilling rigs.
-- MAPLETREE LOGISTICS TRUST - Mapletree Logistics Trust signed an agreement to buy an industrial property in Singapore for S$55 million, which has an initial net property yield of 7.8 percent, the company said.
-- Z-OBEE HOLDINGS - Mobile handset firm Z-Obee said on Friday it will issue 80 million units of Taiwan depository receipts at NT$10.20 each, or S$0.437. The TDRs are expected to start trading on the Taiwan stock exchange on December 3.
-- SERIAL SYSTEM - Electronics component maker Serial System said on Friday that its application to the issue Taiwan depository receipts was not approved by the Taiwan stock exchange.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.04 percent on Friday to 3,158.08 points.
-The Dow Jones industrial average <.DJI> dropped 0.85 percent to 11,092.00. The Standard & Poor's 500 Index <.SPX> was down 0.75 percent to 1,189.40. The Nasdaq Composite Index <.IXIC> retreated 0.34 percent to 2,534.56.
26-11-2010 08:30:15Singapore Stocks-May be tad up, Sabana REIT IPO in focus Nov 26 (Reuters) - Singapore shares may open a tad higher on Friday as global markets edged up, but trading is likely to be quiet as U.S. markets were closed overnight for the Thanksgiving holiday.
25 Nov 2010 0800
FSSTI rose 0.3% on short covering; DJIA rebounded 1.4%
The FSSTI gained 0.3% to close at 3,137.0 on short covering after tensions on the Korean peninsula drove risk aversion in the previous trading session. Jardine Cycle & Carriage rose 0.2% to S$37.08 after Indonesia, its main market, reported vehicle sales in October rising 32.4% yoy. The broader market saw 246 gainers and 222 losers, with trading value amounting to S$1.66b.
The US markets rallied on stronger employment data with higher consumer spending. The DJIA advanced 1.4% to 11,187.3 and S&P’s 500 Index finished 1.5% higher at 1,198.4. Initial unemployment claims fell to the lowest level in more than two years with consumer spending increasing for the fourth consecutive month in October. Gainers led losers at a ratio of 5 to 1 on the NYSE with 6.1b shares changing hands.
The FSSTI staged a rebound at a minor support of 3,118 and closed in positive territory during trading yesterday. However, we remain cautious at this juncture as the index’s technicals remained bearish with resistance at the lower channel boundary and two moving averages. Risk-averse investors should wait for the direction to be clearer before initiating long positions. Support remains at 3,040.
24-11-2010 08:10:49Singapore Stocks-Likely weak on Korea tensions, Mewah in focus Nov 24 (Reuters) - Singapore shares may see a weak start on Wednesday as rising tensions on the Korean peninsula are likely to keep investors away from riskier assets.
Shares of palm oil refiner Mewah International are likely to be in focus as it makes its Singapore market debut. It sold 251.7 million shares at S$1.10 each, which was about 1.9 times subscribed, the firm said in a statement.
-----MARKET SNAPSHOT @ 2347 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1180.73 -1.43% -17.110
USD/JPY 83.2 0.05% 0.040
10-YR US TSY YLD 2.7819 -- 0.000
SPOT GOLD 1374.55 -0.12% -1.650 US CRUDE 81.02 -0.28% -0.230
DOW JONES <.DJI> 11036.37 -1.27% -142.21
ASIA ADRS <.BKAS> 132.78 -2.46% -3.35 -------------------------------------------------------------
> Wall St drops on Korean tension, euro-zone woes [.N] > Safety bid forms amid European, Korean turmoil [US/] > Dollar rises broadly on euro zone, Korea worries [USD/]
> Gold climbs; euro woes, Korea revive safe-haven bid [GOL/] > Oil slips as dollar up on euro zone woes, Korea
> Stocks and factors to watch: -
- TIGER AIRWAYS - Philippines budget carrier South East Asian Airlines (SEAIR) will operate flights using aircraft leased from Tiger Airways, both firms said in a joint statement. SEAIR's flights will be marketed through Tiger Airway's online booking website.
- ZIWO HOLDINGS - Ziwo Holdings, which makes rubber foam materials, said it has received approval from Taiwan's central bank and the Singapore stock exchange to issue Taiwan depository receipts representing up to 89 million shares on the Taiwan stock exchange.
- AIMS AMP CAPITAL INDUSTRIAL REIT - Aims Amp Capital, which owns logistics properties, has signed three long term leases with a unit of a German telecom firm, and achieved full occupancy at one of its properties, bringing the total occupancy of its portfolio to 98 percent.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 2.03 percent on Tuesday to 3,126.30 points.
-The Dow Jones industrial average <.DJI> lost 1.27 percent to 11,036.37. The Standard & Poor's 500 Index <.SPX> was down 1.43 percent to 1,180.73. The Nasdaq Composite Index <.IXIC> retreated 1.46 percent to 2,494.95.
22-11-2010 10:18:38
Singapore Hot Stocks-Property firms down on China's c. bank move
SINGAPORE, Nov 22 (Reuters) - Shares of Singapore-listed property firms with exposure to the China market fell in morning trade on Monday after the Chinese central bank raised bank reserve requirements.
At 0205 GMT, shares of Hong Kong Land and City Development were down more than 2 percent, while CapitaLand and Keppel Land fell nearly 1 percent.
"The move caused the China stock market to drop and this affected the property counters," said a local trader. China ordered lenders on Friday to lock up more of their money at the central bank for the second time in two weeks, stepping up its battle to pull excess cash out of the economy before inflation has a chance to take off.
Nov. 21, 2010, 4:41 a.m. EST
Ireland $164B rescue in works: UK Sunday Times
By MarketWatch
– The International Monetary Fund, European Union and European Central Bank are preparing a 120-billion-euro ($164 billion) bailout of Ireland, requiring the country to raise taxes and nationalize more banks, the Sunday Times of London reported. The plan, which would exceed the 110-billion-euro bailout created for Greece, could be unveiled as early as Monday morning, the paper reported.
18-11-2010 09.00
香港股市周四收盘走高，追随中国大陆股市上涨势头，从周三的接近三周低点反弹，受对大陆金融和资源类股逢低买盘推动。恒生指数上涨422.93点，至23,637.39点，涨幅1.8%。
18-11-2010 08:28:46Singapore Stocks-May see boost from GDP, STX OSV in focusNov 18 (Reuters) - Singapore shares may rise on Thursday, supported by news the city-state's government expects GDP to grow around 15 percent this year, which is at the higher end of previous expectations. [ID:nSGC003847] The successful IPO of General Motors and hopes Ireland may soon find a solution to its debt woes are also likely to lift investor confidence.
--------MARKET SNAPSHOT @ 0016 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
USD/JPY 83.17 -0.02% -0.020
10-YR US TSY YLD 2.8766 -- -0.006
SPOT GOLD 1341.49 0.43% 5.790 US CRUDE 80.8 0.45% 0.360
ASIA ADRS <.BKAS> 133.19 0.77% 1.02
> Wall St ends flat, late selloff in banks. Bonds fall as QE2 criticism overshadows data. Euro gains vs dollar on Ireland hopes, weak US data.
> Gold falls for 4th day on China inflation talk. Oil drops to 4-week low on China rate worries.
Stocks and factors to watch: -
- STX OFFSHORE AND SPECIALISED VESSELS - Recently listed shipbuilder STX Offshore and Specialised Vessels said on Thursday it has secured contracts worth 1.3 billion Norway Kroner ($217.1 million) to build four platform supply vessels. -
- GUOCOLAND - GuocoLand said its wholly-owned subsidiaries have submitted the highest bid of S$1.71 billion for a land parcel in Singapore's downtown business district. The tender is still under evaluation by the Urban Redevelopment Authority.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.76 percent on Tuesday to 3,212.10 points. The market was closed for a holiday on Wednesday.
- The Dow Jones industrial average <.DJI> lost 0.14 percent at 11,007.88 on Wednesday. The Standard & Poor's 500 Index <.SPX> inched 0.02 percent higher to 1,178.59. The Nasdaq Composite Index <.IXIC> finished 0.25 percent up at 2,476.01.
16-11-2010 18.00
(道琼斯中文财讯)
亚太股市周二大多走低东京股市周二下跌。市场缺乏积极的交投线索，日经指数收盘跌30.41点，至9797.10点，跌幅0.3%。台湾股市收盘走高，台湾证交所加权指数涨0.9%，至8312.21点，结束了连续三个交易日下跌的局面。
港股收盘下跌，金融股领跌；国泰航空逆市上涨 香港股市周二收盘连续第三个交易日下跌，追随中国大陆股市跌势。由于市场担心中国大陆将采取紧缩措施为经济高增长降温并抑制通货膨胀，中资金融股下挫。恒生指数下跌334.16点，至23,693.02点，跌幅1.4%。
IMF调整特别提款权组成货币权重: IMF周一保留特别提款权货币篮子中已有的四种货币：美元、欧元、英镑和日圆，但参照各币种在国际贸易中的地位对其权重进行了调整。美元权重仍最大，但由2005年的44%降至41.9%；欧元权重次之，但由五年前的34%升至37.4%。英镑权重为11.3%，与之前的11%持平。日圆权重为9.4%，低于2005年的11%。
经济学家下调美国经济增长预期: 费城联储周一公布第四季度经济增速预期下调至2.2%，对2011年经济增速预期仍为2.5%，将2012年经济增速预期下调至2.9%，将2013年经济增速预期上调至3%。
韩国央行周二将基准利率上调25个基点，至2.50%，由此恢复了货币紧缩政策，以抑制经济迅速复苏以来不断积聚的通货膨胀压力。
索罗斯：全球力量从美国转向中国
金融家和慈善家乔治-索罗斯周一表示，全球力量和影响力正迅速从美国转移到中国。美国仍陷于自身金融系统所引发的金融危机泥潭不能自拔，而中国经济状况运行良好，并实现了大规模贸易顺差，已成为拉动全球经济的引擎，中国政治不稳定将对全球产生影响。
16 Nov 2010, 08.30 (uobkayhian.com.sg)
FSSTI weaker on European debt concerns; US markets mixed
The FSSTI closed weaker on Monday, shedding 0.5% to 3,236.8 on the back of anxiety that Ireland would face a Greek-style economic bailout. Olam International was in the spotlight losing 2.2% to close at S$3.18, after it announced plans to invest US$1.3b in Gabon to build a joint venture fertiliser plant. In the broader market, losers outnumbered gainers 357 to 140, with 1.71b shares traded.
US markets produced mixed performances after the DJIA gained 9.4pts to 11,202.0 and the S&P 500 index lost 1.5pts to 1,197.8. Markets were buoyed by strong retail sales in the initial part of the day but lost most of their gains after Treasury prices fell sharply. Losers outnumbered gainers 8:7 and 880m shares were traded.
15-11-2010 08:17:01Singapore Stocks-May open lower; Olam, Hyflux in focusSINGAPORE, Nov 15 (Reuters) - Singapore shares may open lower on Monday after Wall Street ended a five-week winning streak as the threat of rising interest rates in China prompted investors to book profits and reassess bullish positions in equities.
>Singapore-based commodity firm Olam International may be in focus after it said on Saturday it will set up a $1.3 billion ammonia-urea fertiliser complex in the central African nation of Gabon.
-------MARKET SNAPSHOT @ 2356 GMT -------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1199.21 -1.18% -14.330 USD/JPY 82.45 0.02% 0.020 10-YR US TSY YLD 2.7853 -- 0.000 SPOT GOLD 1370.34 0.29% 3.990 US CRUDE 85 0.14% 0.120 DOW JONES <.DJI> 11192.58 -0.80% -90.52 ASIA ADRS <.BKAS> 134.79 -1.94% -2.67 ------------------------------------------------------------- > Wall St slips on China inflation worries; fear rises [.N] > Bond prices fall as recovery contemplated [US/] > Euro burdened by Ireland, USD gets lift from yields [USD/] > Gold falls most since July on commodities rout [GOL/] > Oil tumbles on China rate, euro zone concerns
>Stocks and factors to watch: -
F&N: Full-year net profit up 128% yoy. FY10 net profit jumped 128% yoy to S$820m although its attributable profit for its fourth quarter ended September 30 fell 23 percent to S$144.5 million from a year ago. Its breweries segment contributed the highest of S$303m (+43.3% yoy) in profit before interest and tax (PBIT) of the F&B segment’s S$456.5m. PBIT from property development and investment properties also rose. F&N declared a final dividend of 12 cents per share. (Source: The Business Times)
Keppel Land: Lakefront Residences 80% sold. Keppel Land sold 70 units of its 99-year leasehold development The Lakefront Residences over the weekend, bringing total sales for the development to 320 units of 400 available for sale since Friday’s preview. The 320 units were sold at an average price of S$1,020psf and is a new record for the location, which is next to Lakeside MRT station. (Source: The Business Times)
+) HYFLUX said on Monday it has won a $100 million contract to carry out engineering, procurement and construction works for a seawater desalination plant in Libya, the first project in the country for the firm.
+) FJ BENJAMIN - Singapore's fashion retailer FJ Benjamin said on Friday its first quarter net profit surged seven-fold, helped by strong sales from China and Hong Kong.
- THAI BEVERAGE - Singapore-listed Thai Beverage, Thailand's largest brewer and distiller, said on Friday its third quarter net profit rose 19 percent, helped by stronger sales from its spirits and beer businesses.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 1.26 percent on Friday to 3,252.00 points.
- The Dow Jones industrial average <.DJI> retreated 0.80 percent to finish at 11,192.58. The Standard & Poor's 500 Index <.SPX> was down 1.18 percent to 1,199.21. The Nasdaq Composite Index <.IXIC> fell 1.46 percent to 2,518.21.
12-11-2010 08:14:17Singapore Stocks-May open lower; Genting S'pore, Olam in focus> Singapore's benchmark Straits Times Index gained 0.13 percent on Thursday to 3,293.39.
> The Dow Jones industrial average fell 0.65 percent to finish at 11,283.10. The Standard & Poor's 500 Index was down 0.42 percent to 1,213.54. The Nasdaq Composite Index retreated 0.90 percent to 2,555.52.
SINGAPORE, Nov 12 (Reuters) - Singapore shares may open lower on Friday after Wall Street retreated overnight and Genting Singapore
said its earnings fell slightly in the quarter ended September from the previous quarter. -) Genting Singapore posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of S$347.6 million in the third quarter, down from S$503.5 million in the three months ended June.
+) Commodities firm Olam International may also be in the spotlight after it said on Thursday its net profit for the July-September period soared 56 percent from a year earlier to S$29.7 million ($23.08 million).
----MARKET SNAPSHOT @ 2342 GMT ----(INSTRUMENT LAST PCT CHG NET CHG)
S&P 500 <.SPX> 1213.54 -0.42% -5.170
USD/JPY 82.46 -0.04% -0.030
10-YR US TSY YLD 2.6483 -- 0.000
SPOT GOLD 1408.7 -0.05% -0.690
US CRUDE 87.52 -0.33% -0.290
DOW JONES <.DJI> 11283.10 -0.65% -73.94
ASIA ADRS <.BKAS> 137.46 -0.45% -0.62
> Cisco's rout dents Wall St but bullish trend rules. Treasuries gain after 2-day selloff draws buyers. Euro pierces support at $1.3637, falls to 6-week low. Gold rises on eurozone worries, defies dollar rise. Oil slips from 25-month highs as equities fall.
>Stocks and factors to watch: -
+) FIRST RESOURCES - the Palm oil firm said on Friday its third-quarter net profit rose 40 percent to $36.9 million from a year ago mainly due to the higher prices of crude palm oil.
+) KENCANA AGRI - the Indonesian palm oil firm said on Friday its third-quarter net profit surged 328 percent to $2.2 million from $521,000 a year ago.
+) BANYAN TREE HOLDINGS - the Singapore resorts and spa operator reported on Friday third-quarter net profit of S$108,000, reversing a loss of S$968,000 a year ago, as rooms bookings have improved in Thailand after some evidence the recent political situation has stabilised.
-) SWIBER HOLDINGS - the Singapore offshore engineering firm said on Thursday its third-quarter net profit fell 52 percent to $7 million from a year ago mainly due to less gain recognised through the sale and leaseback arrangement in the third quarter.
10-11-2010 08:13:11Singapore Stocks-May open lower; SIA, Wilmar in focusSINGAPORE, Nov 10 (Reuters) - Singapore shares may open lower on Wednesday following a worse-than-expected quarterly profit decline by palm oil giant Wilmar and after Wall Street fell for a second day.
- Singapore Airlines, may be in focus after it reported on Tuesday better-than-expected second-quarter earnings, boosted by a strong recovery in passenger traffic, especially in the premium segment. But the carrier was fined 74.8 million euros after the European Commission ruled that its cargo unit was involved in a price-fixing case involving several airlines. SIA said on Wednesday it is likely to appeal the ruling.
--- MARKET SNAPSHOT @ 2335 GMT ---
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1213.4 -0.81% -9.850 USD/JPY 81.62 -0.11% -0.090 10-YR US TSY YLD 2.6631 -- 0.000
SPOT GOLD 1393.29 0.09% 1.300 US CRUDE 86.4 -0.37% -0.320 DOW JONES <.DJI> 11346.75 -0.53% -60.09 ASIA ADRS <.BKAS> 136.02 -1.27% -1.75
> Wall St drops after late sell-off; banks, metals drag. 30-yr leads prices lower in pre-auction move. Dollar rises on higher yields; debt fears hit euro.
> Gold dives off record; silver drop spooks market. Oil drops from 2-year peak on dollar rebound.
Stocks and factors to watch: -
-) WILMAR INTERNATIONAL - Wilmar International, the world's biggest listed palm oil plantation firm, posted a worse-than-expected 60 percent fall in third-quarter net profit, hurt by losses from its oilseeds and grains business.
- STARHUB - Singapore's second-biggest telecom firm StarHub said on Tuesday third-quarter net profit fell 3.7 percent to S$82 million ($63.81 million), dragged down by higher operating expenses.
+) NOBLE GROUP - Singapore-listed commodity firm Noble Group said on Tuesday its third-quarter net profit rose 19 percent, helped by contributions from new businesses.
- SINGAPORE TECHNOLOGIES ENGINEERING - Singapore Technologies Engineering, the city-state's main defence contractor, posted on Tuesday an 8.3 percent rise in third-quarter net profit, helped by higher earnings from its electronics and marine units.
-) BIOSENSORS INTERNATIONAL - Singapore medical technology firm Biosensors said its chief financial officer Kevin R. Sayer has resigned and will step down effective Nov 30. Biosensors also said it is closing its U.S.operations.
- Singapore's benchmark Straits Times Index <.FTSTI> rose 0.40 percent on Tuesday to 3,313.61 points.
- The Dow Jones industrial average <.DJI> retreated 0.53 percent to finish at 11,346.75. The Standard & Poor's 500 Index <.SPX> fell 0.81 percent to 1,213.40. The Nasdaq Composite Index <.IXIC> was down 0.66 percent at 2,562.98.
(............Above news Compliment of thomsonreuters.com.............)
08-11-2010 08:06:10Singapore Stocks-May rise slightly, CapitaMalls Asia in focusSINGAPORE, Nov 8 (Reuters) - Singapore shares may rise slightly on Monday after stocks on Wall Street recorded modest gains amid stronger-than-expected U.S. jobs data.
CapitaMalls Asia , a unit of Southeast Asia's largest property developer CapitaLand , may be in focus after it has agreed to obtain a two-third stake in a S$747.2 million ($581.5 million) property project in Shanghai.
MARKET SNAPSHOT @ 2348 GMT
(INSTRUMENT LAST PCT CHG NET CHG)
S&P 500 <.SPX> 1225.85 0.39% 4.790
USD/JPY 81.22 -0.02% -0.020
10-YR US TSY YLD 2.5394 -- 0.000
SPOT GOLD 1394.9 0.03% 0.400
US CRUDE 87.34 0.56% 0.490
DOW JONES <.DJI> 11444.08 0.08% 9.24
ASIA ADRS <.BKAS> 137.71 0.47% 0.64 -------------------------------------------------------------
> S&P 500 extends rally to 5th week. After bond sell off on jobs data, buyers rush in. US dollar rises after jobs report; outlook uncertain. Gold rises to record on renewed inflation worries. Crude rises above $87/bbl to near 2-yr high
> Stocks and factors to watch: -
- SINGAPORE AIRLINES , TIGER AIRWAYS - Several airlines have halted flights between Singapore and the Indonesian capital of Jakarta due to the risk posed by ashes from an active volcano, Singapore Airlines and Changi Airport said on Saturday. The affected carriers include Singapore Airlines, Lufthansa , Turkish Airlines , AirAsia and Tiger Airways .
- Singapore Airlines resumed flying its A380 fleet on Friday, lifting a grounding order imposed after a Qantas A380 engine failed inflight, forcing the aircraft to make an emergency landing.
- Sembcorp Marine, the world's second largest rig-builder, owned by Sembcorp Industries, on Thursday reported a doubling in third quarter net profit, helped by a write-back of S$53 million. The company posted a net profit of S$296 million for the quarter ended September, up from S$145 million a year ago.
- TREASURY CHINA TRUST - Treasury China Trust , which focuses on Chinese commercial real estate, is eyeing acquisitions in second-tier Chinese cities to tap the rising purchasing power of consumers, a senior executive said on Friday.
- HYFLUX - Singapore's water treatment company Hyflux said on Thursday its third quarter net profit rose 5 percent to S$19 million from a year earlier, helped by higher sales from municipal and industrial sectors.
> Singapore's benchmark Straits Times Index rose 0.48 percent on Thursday to 3,240.31 points. The market was closed on Friday for a public holiday.
> The Dow Jones industrial average inched 0.08 percent higher to finish at 11,444,08 on Friday. The Standard & Poor's 500 Index rose 0.39 percent to 1,225.85. The Nasdaq Composite Index closed 0.06 percent higher at 2,578.98.
03-11-2010 08:00:58
>Singapore's benchmark Straits Times Index rose 0.41 percent on Tuesday to 3,205.28 points. >The Dow Jones industrial average <.DJI> climbed 0.58 percent to 11,188.72. The Standard & Poor's 500 Index gained 0.78 percent at 1,193.57. The Nasdaq Composite Index finished 1.14 percent higher to close at 2,533.52.
SINGAPORE, Nov 3 (Reuters) - Singapore shares may rise on Wednesday, following gains on Wall Street overnight after a swing towards the Republicans in U.S. elections lifted investor sentiment. But gains may be subdued ahead of the U.S. Federal Reserve's decision on further quantitative easing to boost the flagging economy.
>INSTRUMENT LAST PCT CHG NET CHG
USD/JPY 80.66 0.02% 0.020
10-YR US TSY YLD 2.592 -- 0.000
SPOT GOLD 1356.85 -0.01% -0.150
US CRUDE 84.47 0.68% 0.570
ASIA ADRS <.BKAS> 132.86 0.79% 1.04 -----------------------------
>Expectation of Republican win lifts Wall St. Bonds gain in set up for Fed meeting. US dollar slides ahead of Fed, election results. Gold rises on dollar slide, FOMC in focus; Oil hits 6-month high on weak dollar, OPEC talk.
>Local stocks and factors to watch: -
+) Shares of Oversea-Chinese Banking Corp may be in focus after its private banking arm, Bank of Singapore, said it expects profits and client assets to grow by 20 percent next year as investments in staff and infrastructure start to pay off.
+) TIGER AIRWAYS - Budget carrier Tiger Airways said on Tuesday its July-September net profit was S$14.1 million, reversing from a net loss of S$2.3 million a year earlier due to higher passenger growth. Its revenues grew 35.4 percent to S$143.5 million for the second quarter ended Sept 30.
+) SIA Engineering reported its second quarter net profit rose 8.8 percent to S$66.5 million from a year ago, on the back of higher sales from airframe and component overhaul work. Its revenue rose 11.7 percent to S$277.1 million in the July-September period from a year earlier.
+) SATS said on Tuesday its second quarter net profit rose 10.5 percent to S$45.2 million from a year earlier, boosted by higher catering revenue from providing meals for the Youth Olympic Games and higher contribution from its UK operations.
+) CHIP ENG SENG - Construction firm Chip Eng Seng said on Tuesday its wholly-owned subsidiary has won a bid to develop a public housing project in eastern Singapore. The purchase price for the land parcel was S$112.7 million.
02-11-2010 08:05:03>Singapore's benchmark Straits Times Index rose 1.6 percent on Monday to 3,192.18 points.
>The Dow Jones industrial average inched 0.06 percent higher to finish at 11,124.62. The Standard & Poor's 500 Index rose 0.09 percent to 1,184.38. The Nasdaq Composite Index finished 0.10 percent lower, to close at 2,504.84.
Singapore Stocks-Likely flat ahead of US Fed, Cosco in focusNov 2 (Reuters) - Singapore shares may open flat on Tuesday, with Wall Street offering little direction overnight as investors moved to the sidelines ahead of this week's U.S. elections and Federal Reserve meeting.
>Singapore-listed Chinese shipbuilder Cosco Corp
may be in focus after it said it had secured contracts worth over $87 million to build three bulk carriers, scheduled for deliveries from May 2012 to March 2013.
MARKET SNAPSHOT @ 2345 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
- USD/JPY 80.55 0.1% 0.080
- 10-YR US TSY YLD 2.6284 -- 0.000
- SPOT GOLD 1353 0.20% 2.750
- US CRUDE 83.38 0.52% 0.430
- ASIA ADRS <.BKAS> 131.82 -0.39% -0.51 ------------------------------------------------------------- >
Market ends flat on eve of US vote, Fed meeting
> Treasury price swings are a sign of low volume. Focus on Fed, but US poll could have delayed impact.
> Gold backs off 2-week high; eyes US election, Fed. Oil rises on Saudi view, Greek incidents, China.
>Stocks and factors to watch: --
OVERSEA-CHINESE BANKING CORP - Oversea-Chinese Banking Corp, Singapore's second-biggest lender, may issue debt for Tier-2 capital, CEO David Conner said on Monday, but he did not say when the bonds will be issued.
HI-P INTERNATIONAL - Electronics contract manufacturer Hi-P International's third-quarter net profit tripled to S$33.2 million from a year earlier, due to strong demand for its products and as it saw lower costs and improved productivity. The firm said it expected revenue for the current quarter to be comparable to the previous three months.
RIVERSTONE - Singapore-listed Malaysian rubber glove maker Riverstone Holdings said its third-quarter net profit was flat at 9.9 million ringgit compared with a year ago, hit by a weaker U.S. dollar and higher raw material prices. Its revenue rose 22 percent to 54.7 million ringgit due to strong demand for its cleanroom and healthcare gloves.
CHINA ENVIRONMENT - China Environment, which provides waste gas treatment solutions, said it plans to seek a dual primary listing in Hong Kong in order to widen its investor base. It has appointed OSK Capital Hong Kong as its sponsor for the dual listing.
1 Nov, 2010 11.30 SP >TOKYO – Asian stock markets were higher Monday as lackluster U.S. growth figures reinforced expectations the Federal Reserve will pump more money into the world's biggest economy.
American gross domestic product grew just 2 percent at an annualized pace in the three months through September, slightly faster than the previous quarter but not enough to bring down unemployment, which is hovering near 10 percent. The weak showing underlined expectations that the Fed policy meeting ending Wednesday will announce a Treasury bond buying program, known as quantative easing, to inject more liquidity into the economy.
>Hong Kong's Hang Seng index was up 1.8 percent at 23,520.75, South Korea's Kospi rose 1 percent to 1,901.81, and Australia's S&P/ASX 200 gained 1 percent to 4,701.50.
China's Shanghai Composite Index added 1.7 percent to 3,029.33.
Japan's benchmark Nikkei 225 stock average bucked the trend, falling 0.2 percent at 9,186.30.
Markets in Singapore, Taiwan and Indonesia were higher.
>The Dow Jones industrial average on Friday rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26.
Despite the soft finishes, both U.S. indexes were up over 3 percent for the month.
>In currencies, the dollar rose to 80.66 yen from 80.31 yen. The euro rose versus the dollar to $1.3981 from $1.3945.
>Benchmark crude for December delivery was up 40 cents at $81.81 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 75 cents to settle at $81.43 on Friday.
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