China Gaoxian: Error in KDR PE rectified.
China Gaoxian shares in Singapore rebounded back on Friday as its Korean Depository Receipts (KDRs) sprang back with a vengeance after an erroneous price-earnings (PE) ratio on the Korea Exchange (KRX) website was corrected. The KRX website had erroneously reported the PE ratio of the company as 86x which was later corrected to 4.33x. (Source: The Business Times)
28-01-2011 08:07:22
Singapore Stocks- May be see weak start; CapitaLand in focus
Jan 28 (Reuters) - Singapore shares may be see a weak start on Friday after rating agency Standard & Poor's cut Japan's long-term debt rating, sending the yen lower, but gains on Wall Street overnight may provide some support.
Southeast Asia's largest property developer CapitaLand may be in focus after it said it will acquire a residential property in Singapore for S$100.7 million ($78.7 million)and redevelop it into a condominium with 150 units.
------MARKET SNAPSHOT @ 2358 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1299.54 0.22% 2.910 USD/JPY 82.86 -0.02% -0.020 10-YR US TSY YLD 3.3893 -- 0.000 SPOT GOLD 1314.85 0.20% 2.610 US CRUDE 85.24 -0.47% -0.400 DOW JONES <.DJI> 11989.83 0.04% 4.39 ASIA ADRS <.BKAS> 143.41 0.24% 0.35 ------------------------------------------- ------------------
> Tech results keep Wall Street advance alive [.N] > Bonds gain on relief over successful auctions [US/] > Yen sinks as Japan downgrade weighs; may fall more [USD/] > Gold down over 2 pct as investor appetite fades [GOL/] > Oil slips on OPEC output talk, economic concerns
> Stocks and factors to watch:
-- SINGAPORE POST - Singapore Post has appointed Ng Hin Lee as its chief executive officer (CEO) for its postal and corporate services, and Wolfgang Baier as the CEO for its international operations, with effect from February 7. [ID:nSNZ24B1jx] -- GUOCOLAND - Property developer GuocoLand's net profit for the second quarter fell 64 percent to S$21.6 million, from S$60.4 million a year ago, due to lower contribution from development projects in China.
-- ECS HOLDINGS - Consumer electronics distributor ECS Holdings said its wholly-owned subsidiary has signed an agreement with Samsung's Malaysian unit to distribute Samsung's notebooks and its tablet in Malaysia. [ID:nSNZqsLN9] -- LONGCHEER - Chinese mobile phone designer Longcheer said its second quarter net profit dropped 60 percent to 16 million yuan from the year ago period, its gross profit margin fell due to severe price competition.
-- CHINA FISHERY - China Fishery said it has received approval from the Singapore exchange for its plan to seek a dual listing on the Hong Kong stock exchange.
- Singapore's benchmark Straits Times Index <.FTSTI> closed 0.03 percent lower on Thursday at 3,219.83 points.
-The Dow Jones industrial average <.DJI> climbed 0.04 percent to 11,989.83. The Standard & Poor's 500 Index <.SPX> rose 0.22 percent to 1,299.54. The Nasdaq Composite Index <.IXIC> gained 0.58 percent at 2,755.28.
27-01-2011 08:02:18
Singapore Stocks-May rise slightly but Fed weighs; Osim in focus
Jan 27 (Reuters) - Singapore shares may open slightly higher on Thursday, following gains on Wall Street overnight, but a tepid view of the economy from the Federal Reserve may weigh on investor confidence.
>Massage chair maker Osim International may be in focus after it said its fourth quarter net profit more than doubled to S$17 million from a year ago, due to improved operating efficiencies and new products.
-------MARKET SNAPSHOT @ 2357 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1296.63 0.42% 5.450 USD/JPY 82.17 -0.02% -0.020 10-YR US TSY YLD 3.4205 -- 0.000 SPOT GOLD 1343.25 -0.23% -3.110 US CRUDE 87.55 0.25% 0.220 DOW JONES <.DJI> 11985.44 0.07% 8.25 ASIA ADRS <.BKAS> 143.06 0.23% 0.33 -------------------------------------------- -----------------
> S&P closes at 29-month high; techs, commods lead [.N] > Bonds skid on view Fed is too gloomy on economy [US/] > Dollar edges lower as Fed gives cautious outlook [USD/] > Gold rises after Fed as ETFs shed bullion [GOL/] > U.S. oil gains as equities up, Fed supports [O/R]
>Stocks and factors to watch: -- MALAYSIA SMELTING CORP - Tin firm Malaysia Smelting Corp said it has raised net proceeds of about S$40.1 million by selling 25 million shares at S$1.75 each through a secondary listing on the Singapore exchange. The firm, which is listed on Malaysia's stock exchange, will begin trade in Singapore on Thursday.
-- FRASERS COMMERCIAL TRUST - Frasers Commercial Trust said on Wednesday its net property income in October-December dropped 2 percent to S$22.9 million from a year ago due to lower contribution from one of its properties. [ID:nSNZ7JyhpZ] -- ASCENDAS INDIA TRUST - Ascendas India Trust reported its third quarter net property income fell 12 percent to S$17 million from a year earlier, due to a hike in electricity tariff at one of its properties. Its distribution per unit for the period 7 percent lower at 1.72 Singapore cents.
- Singapore's benchmark Straits Times Index <.FTSTI> rose 1.25 percent at 3,220.78 points.
-The Dow Jones industrial average <.DJI> climbed 0.07 percent to 11,985.44. The Standard & Poor's 500 Index <.SPX> gained 0.42 percent to 1,296.63. The Nasdaq Composite Index rose 2,739.50.
26-01-2011 08:15:57
Singapore Stocks-Likely to see weak start, Keppel Corp in focus
Jan 26 (Reuters) - Singapore shares are likely to see a weak start on Wednesday after most Wall Street indices were flat overnight, as a surprise contraction in the British economy shook investors' confidence.
Keppel Corp , the world's largest rig builder, may be in focus after it posted a better-than-expected 17 percent rise in fourth quarter net profit on Tuesday, and said it was bullish about orders in coming months.
------MARKET SNAPSHOT @ 0002 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1291.18 0.03% 0.340 USD/JPY 82.23 0.04% 0.030 10-YR US TSY YLD 3.3439 -- 0.014 SPOT GOLD 1331.45 -0.10% -1.300 US CRUDE 86.21 0.02% 0.020 DOW JONES <.DJI> 11977.19 -0.03% -3.33 ASIA ADRS <.BKAS> 142.73 -0.04% -0.06 -------------------------------------------------------------
> Wall St ends flat in late flurry of buying [.N] > Bonds rally as Obama spending freeze eyed [US/] > Euro rises versus dollar, more gains expected [USD/] > Gold falls for 4th day as investor sentiment fades [GOL/] > U.S. oil slips 6th day on economic concerns
Stocks and factors to watch:
-- KEPPEL LAND , KEPPEL T&T - Keppel Land and Keppel Telecommunications & Transportation have formed a joint venture firm to consolidate their data centre assets. Keppel Land will hold 30 percent of the JV while Keppel T&T will own 70 percent. [ID:nSNZ41R1g9] -- XMH HOLDINGS - XMH Holdings, a diesel engine distributor, said it raised S$18.9 million in net proceeds through an initial public offering of 100.95 million shares at S$0.25 each.
-- CDL HOSPITALITY TRUSTS - CDL Hospitality Trusts said its net property income in the fourth quarter rose 27.3 percent to S$31.5 million from a year-ago period, helped by improved hospitality performance in Singapore. Its distribution per unit for October-December climbed 4.1 percent to S$0.0278.
-- SPICE I2I - Telecommunication services firm Spice i2i, formerly MediaRing, said on Tuesday it plans to acquire the cellular business of Indonesia's mobile handset company Affinity Group for $175 million.
-- MAPLETREE INDUSTRIAL TRUST - Mapletree Industrial Trust said its distribution per unit for October 21 (listing date) to December was S$0.0152, 13.4 percent higher than the S$0.0134 it forecast. The higher than expected distributable income was due to increased gross revenue and lower property expenses, it said.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.14 percent on Tuesday to 3,181.15 points.
- The Dow Jones industrial average <.DJI> lost 0.03 percent to finish at 11,977.19. The Standard & Poor's 500 Index <.SPX> was 0.03 percent higher at 1,291.18. The Nasdaq Composite Index <.IXIC> rose 0.06 percent to 2,719.25.
24-01-2011 08:22:00
Singapore Stocks-May rise on US, Europe optimism; Keppel in focus
Jan 24 (Reuters) - Singapore shares may gain on Monday after Wall Street ended the week mostly higher and on optimism the euro zone's debt problems may be receding.
Keppel Corp , the world's largest builder of oil rigs, may be in focus after it said on Sunday it has secured an order from Clearwater Capital Partners to build two jackup rigs for $360 million.
----------------------MARKET SNAPSHOT @ 2356 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1283.35 0.24% 3.090 USD/JPY 82.6 0.08% 0.070 10-YR US TSY YLD 3.4081 -- 0.000 SPOT GOLD 1345.68 0.26% 3.430 US CRUDE 89.19 0.09% 0.080 DOW JONES <.DJI> 11871.84 0.41% 49.04 ASIA ADRS <.BKAS> 141.16 -1.04% -1.48 -------------------------------------------------------------
> GE lifts Dow, S&P 500 but S&P's 7-week streak ends [.N] > Prices edge higher despite worries on US spending [US/] > Euro hits 2-month high vs dollar, may extend gains [USD/] > Gold notches third weekly loss as safe haven wanes [GOL/] > Brent surges on euro zone optimism, weak dollar.
Stocks and factors to watch:
-- SINGAPORE AIRLINES - Singapore Airlines will increase its fuel surcharge for tickets issued on or after Jan 27 as a result of the recent escalation in jet fuel price, it said on Friday. The increases will range from $3-$27, it said, taking the fuel surcharges to between $28 to $232, depending on distance and the class of travel. [ID:nSFK000012] -- SUNTEC REAL ESTATE INVESTMENT TRUST - Suntec REIT said its distributable income for the fourth quarter fell 6 percent to S$44.9 million from the year ago period.[ID:nSNZ69M1Lw]
-- FIRST REAL ESTATE INVESTMENT TRUST - First REIT, which owns healthcare properties, said its fourth quarter distributable income rose 2.8 percent from a year ago to S$5.4 million, but its distribution per unit fell 54.7 percent to S$0.87. The trust said it expects its distributable income for 2011 to rise by 89 percent, due to the acquisitions of two hospital properties.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.65 percent on Friday to 3,184.60 points. The Dow Jones industrial average <.DJI> gained 0.41 percent at 11,871.84. The Standard & Poor's 500 Index <.SPX> was 0.24 percent higher at 1,283.35. The Nasdaq Composite Index <.IXIC> fell 0.55 percent to 2,689.54.
20-01-2011 08:30:20
Singapore Stocks-May open lower on Wall St; SembMarine in focus
SINGAPORE, Jan 20 (Reuters) - Singapore shares may open lower on Thursday, hit by weakness in Wall Street after key banking and technology stocks fell on disappointing results.
Singapore's Sembcorp Marine , the world's second largest rig builder, will be in focus after saying it had signed a jack-up rig contract worth up to $182 million with a wholly owned unit of Atwood Oceanics.
---MARKET SNAPSHOT @ 0004 GMT ---INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1281.92 -1.01% -13.100 USD/JPY 82.14 0.22% 0.180 10-YR US TSY YLD 3.3409 -- 0.004 SPOT GOLD 1369.65 -0.03% -0.400 US CRUDE 90.6 -0.29% -0.260 DOW JONES <.DJI> 11825.29 -0.11% -12.64 ASIA ADRS <.BKAS> 144.25 -0.25% -0.36 -------------------------------------------------------------
> Banks, tech send Wall St to worst drop in 2 months [.N] > Prices rise as deals are priced, Obama, Hu meet [US/] > Euro hits 8-week high, debt fears fade a bit [USD/] > Gold up for 3rd day; silver Eagle sales hit record [GOL/] > Brent above $98 on N. Sea supplies, US crude down
> Stocks and factors to watch:
-- M1, Singapore's smallest mobile phone operator, said its fourth-quarter net profit rose 0.7 percent, as higher operating revenue was offset by a rise in operating expenses.
-- FIRST RESOURCES - Singapore-listed palm oil firm said one of its substantial shareholders, Eight Capital, had placed 75 million ordinary shares in the firm at S$1.48 per share.Citigroup has also completed the placement of 15 million treasury shares.
-- CAPITAMALL TRUST - Real estate investment trust CapitaMall Trust said on Thursday its fourth-quarter distributable income fell 1.4 percent year-on-year to S$75.4 million. Gross revenue rose 8 percent to S$151.3 million partly helped by higher rental rates.[ID:nSNZ5CC0Ty] -- FIRST SHIP LEASE TRUST , PACIFIC SHIPPING TRUST - Shipping trust First Ship Lease Trust said its fourth-quarter distributable income fell 36.7 percent year-on-year to $5.7 million. Pacific Shipping Trust said its fourth-quarter distributable income fell 2 percent to $4.8 million.
-- ROTARY ENGINEERING - Oil and gas services firm Rotary Engineering said on Wednesday it had secured a S$14.6 million engineering, procurement and construction contract to add new facilities to an existing plant on Jurong island for chemicals firm Stepan Asia. [ID:nSNZ9y5lrm] -- TIME WATCH INVESTMENTS - Singapore-listed watch manufacturer and retailer Time Watch said on Wednesday Red Rewarding, an investment holding company incorporated in the British Virgin Islands, wanted to delist the firm from the Singapore Exchange at an exit offer of S$0.27 per share.
- Singapore's benchmark Straits Times Index was down 0.23 percent on Wednesday at 3,241.96 points. The Dow Jones industrial average lost 0.11 percent, the Standard & Poor's 500 Index lost 1.01 percent and the Nasdaq Composite Index fell 1.46 percent.
18-01-2011 08:06:26
Singapore Stocks-May see weak start, SGX in focus on Q2 earnings
SINGAPORE, Jan 18 (Reuters) - Singapore Exchange , Asia's second-biggest listed bourse, may be in focus on Tuesday after it said its quarterly net profit rose 14 percent, excluding costs related to a merger proposal with ASX , missing expectations.[ID:nSGC003883] Overall, the Singapore market may see a weak start, as fears grew that a meeting of European finance ministers would not bring a swift end to that region's debt crisis.
Trading may also be tepid due to the lack of cues from Wall Street, as U.S. markets were closed on Monday for the Martin Luther King holiday.
----------------------MARKET SNAPSHOT @ 2352 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1293.24 0.74% 9.480 USD/JPY 82.68 -0.05% -0.040 10-YR US TSY YLD 3.3309 -- 0.000 SPOT GOLD 1360.99 -0.10% -1.410 US CRUDE 91.07 -0.51% -0.470 DOW JONES <.DJI> 11787.38 0.47% 55.48 ASIA ADRS <.BKAS> 144.64 0.09% 0.13 -------------------------------------------- -----------------
> US stock futures extend fall on Jobs announcement [.N] > Treasuries retreat as investors choose stocks [US/] > Euro lower as rescue fund uncertainty drags [USD/] > Gold steadies as dollar restricts gains [GOL/] > Oil down as dollar rises, Alaska pipeline restarts
Stocks and factors to watch:
-- SINGAPORE AIRLINES - Singapore Airlines, the world's second-biggest carrier by market value, said on Monday it filled 69.8 percent of the space available on its planes for passengers and cargo in December.The figure was lower than the 70.1 percent recorded in November and December 2009's 71.7 percent.
-- SEMBCORP MARINE - Sembcorp Marine, the world's second-largest rig-builder, said on Monday its subsidiary Sembawang Shipyard has won a contract to built a vessel and three more upgrading contracts worth a total of S$215 million ($167 million).
-- COURAGE MARINE - Dry bulk shipping firm Courage Marine said the company intends to seek a dual primary listing on the Hong Kong stock exchange to improve the liquidity of its shares and allow it to facilitate customer relationships and business opportunities in China.
-- TAT HONG - Crane rental firm Tat Hong said the operations of its Australian subsidiary Tutt Bryant Group have been impacted by the floods in Queensland, Australia. One of its branches was hit by the flooding. [ID:nSNZ3wRzWT]
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.23 percent on Monady to 3,238.63 points.
- U.S. stock markets were closed for a public holiday.
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