Market Update Feb 2011
28-02-2011 08:25:55 February 28 (Reuters) -
Singapore shares may open higher on Monday after Wall Street bounced back from a three-day sell-off as oil prices stabilised, but concerns Libya's turmoil may spread could keep gains in check.
CapitaMall Trust may be in focus after it said on Monday it had entered an agreement to buy a shopping mall in Singapore, Iluma, for S$295 million.
-----MARKET SNAPSHOT @ 0003 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1319.88 1.06% 13.780 USD/JPY 81.63 -0.06% -0.050 10-YR US TSY YLD 3.4143 -- -0.002 SPOT GOLD 1414.15 0.35% 5.000 US CRUDE 99.6 1.76% 1.700 DOW JONES <.DJI> 12130.45 0.51% 61.95 ASIA ADRS <.BKAS> 144.25 1.49% 2.12 -------------------------------------------------------------
> Wall St rebounds from sell-off, but down for week > US bonds rise, rally seen likely extending [US/] > MidEast fears to lift Swiss franc > Gold posts 4th straight weekly gain on oil, unrest [GOL/] > U.S. crude rises more than $1 to $99.08 .
>Stocks and factors to watch: -
- SEMBCORP INDUSTRIES - Singapore energy, water, and marine group Sembcorp Industries said on Friday its fourth quarter net profit fell 12 percent to S$228.7 million ($179 million) from a year earlier mainly due to weaker performance from marine and utilities.
- YING LI INTERNATIONAL - Chinese real estate developer said its fourth quarter net profit surged more than four times to 256 million yuan, from 62.4 million yuan a year ago, helped by higher fair value gains on its investment properties.
- CHINA HONGXING , HONGWEI - Two Singapore listed companies, China Hongxing and Hongwei Technologies, have requested the suspension of trading in their shares as their auditor, Ernst and Young, could not finalise the audit of their financial statements due to irregularities in their cash and bank balances. Both firms are seeking an extension to the March 1 deadline for releasing their full year earnings. [ID:nSN2Q80140] [ID:nSNZzwmfr] -- CHINA XLX FERTILISER - China XLX Fertiliser said its full year net profit rose 21 percent to 144.6 million yuan, helped by higher average selling prices for methanol and an increase in sales of compound fertiliser.
- Straits Times Index <.FTSTI> rose 1.75 percent on Friday to 3,025.16 points. The Dow Jones industrial average <.DJI> gained 0.51 percent to 12,130.45. The Standard & Poor's 500 Index <.SPX> climbed 1.06 percent to 1,319.88. The Nasdaq Composite Index <.IXIC> rose 1.58 percent to 2,781.05.
25-02-2011 08:21:54Singapore Stocks- May find support, IndoFood Agri in focusFeb 25 (Reuters) - Singapore shares may find support on Friday after Wall Street recouped some of its earlier losses overnight, but sentiment remains volatile amid fears that higher oil prices could stifle economic activity. Indonesian palm oil firm Indofood Agri Resources (IndoAgri) reported on Friday a doubling of Q4 net profit, helped by gains in the value of its biological assets.
----MARKET SNAPSHOT @ 2352 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1306.1 -0.1% -1.300 USD/JPY 82 0.12% 0.100 10-YR US TSY YLD 3.4496 -- 0.000 SPOT GOLD 1403 0.11% 1.530 US CRUDE 97.31 0.03% 0.020 DOW JONES <.DJI> 12068.50 -0.31% -37.28 ASIA ADRS <.BKAS> 142.13 -0.13% -0.18 -------------------------------------------------------------
> Wall St recovers off lows on oil drop, Boeing up late [.N] > US Bond prices gain on rise in oil costs [US/] > US dollar stung by higher oil; Swiss franc bid [USD/] > Gold falls below $1,400/oz as oil drops 2 pct [GOL/] > Oil falls from near $120 on Saudi, Gaddafi rumor
>Stocks and factors to watch: -
- NEPTUNE ORIENT LINES - will order more vessels to address an expected shortage in the global freight market within a few years, its chief executive said.
- TIGER AIRWAYS - has signed an agreement to buy a 32.5 percent stake in Philippines-based South East Asian Airlines (SEAIR) for $6 million, its spokesman said on Thursday.
- GLOBAL LOGISTIC PROPERTIES - which owns warehouses and other logistic assets, said on Thursday it has entered into a joint venture to develop a logistics park in Suzhou, China worth a total of $200 million.
- TREK 2000 INTERNATIONAL - said on Thursday its full year net profit surged over four times to $3 million, up from $651,000 a year earlier, helped by higher revenue from its mobile media solutions business.
- Straits Times Index <.FTSTI> fell 0.96 percent on Thursday to 2,973.08 points. The Dow Jones industrial average <.DJI> lost 0.31 percent at 12,068.50. The Standard & Poor's 500 Index <.SPX> retreated 0.10 percent to 1,306.10. The Nasdaq Composite Index <.IXIC> rose 0.55 percent to 2,737.90.
23-02-2011 12:57:23Singapore Stocks-Lower at midday * By the break, the Straits Times Index was down 10.34 points, or 0.34 percent, at 3,008.78. The total value of shares traded in the morning session was S$1.7 billion, up from S$865.5 million on Tuesday. At the lunch break, Wilmar shares were 4.3 percent lower at S$5.18 with over 16.3 million shares traded due to missed Q4 results expectation.
Feb 23 (Reuters) - Singapore stocks fell to over a 6-month low on Wednesday, led by losses in shares of palm oil firm Wilmar International , and as investors remained jittery over tensions in Libya. Shares of Wilmar fell by as much as 5 percent after the company reported a worse-than-expected drop in Q4 net profit. Wilmar's quarterly earnings fell by 28 percent due to pre-tax losses in its oilseeds and grains business as a result of poor crushing margins and its less timely purchases of raw materials.
"In the near term, we believe it's still going to be very choppy. I don't think unrest in the Middle East will be resolved soon, so investors will require a higher risk premium on assets," said an analyst at UOB Kay Hian. Local traders said they expected the STI to stay rangebound in the 2,990-3,010 point band in the afternoon. "If oil prices continue rising and China doesn't ease off on tightening, this could spell trouble for the global economy."
-)Commodity firm Olam International fell as much as 4.6 percent to a near six-month low on Wednesday on continued worries that tensions in Libya could spread to other parts of Africa, hurting the firm's business. At midday, Olam was 1.5 percent lower at S$2.59 with over 80 million shares traded.
>Casino operator Genting Singapore retreated 2.5 percent to S$1.93 after it reported quarterly earnings that were slightly below expectations.
+)However, construction and property firm Chip Eng Seng outperformed the broader market after it reported strong quarterly earnings. Chip Eng Seng rose 4.8 percent to S$0.44 by midday, with over 8.4 million shares changing hands.
22-02-2011 08:06:31Singapore Stocks-May dip; CapitaLand, Yangzijiang in focusFeb 22 (Reuters) - Singapore shares under pressure on Tuesday, as turmoil across the Middle East sends oil prices sharply higher and investors shy away from riskier assets such as equities. CapitaLand reported a better than expected fourth quarter net profit of S$522.1 million ($409.3 million), which fell 41 percent from a year ago due to smaller one-off gains.
----MARKET SNAPSHOT @ 2344 GMT ----------- INSTRUMENT LAST PCT CHG NET CHG USD/JPY 83.11 -0.01% -0.010 SPOT GOLD 1407.7 0.12% 1.750 US CRUDE 93.39 8.34% 7.190 > Euro slips on Middle East tensions; data cushions [USD/] > Gold jumps 1 pct, over $1,400 on Mideast violence [GOL/] > March U.S. crude extends gains on Libya unrest
>Stocks and factors to watch: -
- YANGZIJIANG SHIPBUILDING - said on Tuesday its Q4 net profit rose 30 percent yoy to 838.1 million yuan (127.6 million). The firm said it secured 50 new vessel orders worth $1.38 billion in 2010.
-- SINGAPORE AIRLINES - has added a seventh daily flight between the city-state and Hong Kong due to the route's popularity, it said on Monday.
-- TIGER AIRWAYS - said on Monday that Ryanasia has reduced its stake in the company and is no longer a substantial shareholder.
-- HYFLUX - said on Monday it has won a concession to build and operate a plant to treat up to 150,000 cubic metres of wastewater per day for Zunyi City in China's Guizhou province.
-- BOUSTEAD SINGAPORE - which provides engineering services and develops industrial facilities, said on Monday it has suspended operations in Libya and started evacuating its non-Libyan staff from the country.
-- DUKANG DISTILLERS - Alcohol producer Dukang Distillers said on Monday it plans to issue 130 million Taiwan Depository Receipts (TDRs) and the proposed issue price for each TDR is estimated to be within the range of T$18.50 to T$20.
> Straits Times Index <.FTSTI> was down 0.53 percent on Monday to 3,070.60 points. Wall Street was closed on Monday for a public holiday.
21-02-2011 08:28:06Weighed by M.East, China protest, budget may helpSINGAPORE, Feb 21 (Reuters) - Concern over demonstrations in the Middle East and some minor pro-democracy protests in China might weigh on Singapore stocks on Monday but the government's offer of S$6.6 billion in incentives in the next fiscal year might help sentiment. The government unveiled its last budget before elections on Friday with big handouts aimed to help the city-state's poorer citizens dealing with higher inflation in the coming year.
- Raffles Medical , a provider of healthcare services, said on Monday it had bought a property at the city's famous Orchard Road shopping area for S$92.08 million to set up a specialist medical centre. The firm also reported a 19.5 percent increase in its 2010 net profit to S$45.3 million from a year earlier, helped by higher patient load, wider range of medical specialties and the recruitment of more specialist consultants.
---MARKET SNAPSHOT @ 2358 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1343.01 0.19% 2.580 USD/JPY 83.1 0.04% 0.030 10-YR US TSY YLD 3.5818 -- 0.000 SPOT GOLD 1390.49 0.14% 1.910 US CRUDE 87.35 1.33% 1.150 DOW JONES <.DJI> 12391.25 0.59% 73.11 ASIA ADRS <.BKAS> 147.09 -0.39% -0.58 -------------------------------------------------------------
> U.S. market up for 3rd week as late-comers jump in [.N] > Treasuries ease in set up for next week's auctions [US/] > Euro holds firm on rate view, Aussie resilient [USD/] > Gold notches best weekly gain since December [GOL/] > Oil slips in volatile trade eyeing Mideast
>Stocks and factors to watch: -
- SINGAPORE TECHNOLOGIES ENGINEERING - said on Friday its US subsidiary VT iDirect had secured a contract worth around $60 million from Inmarsat , a provider of satellite communication services, to facilitate global broadband connectivity.
- INDOFOOD AGRI RESOURCES - said on Friday its 90 percent-owned subsidiary, PT Salim Ivomas Pratama, is exploring a listing on the Indonesia Stock Exchange.
- OCEANUS GROUP - Singapore abalone firm Oceanus Group said on Monday it expects to post a fall in net profit for the year ended Dec 31, 2010, compared with a year earlier, mainly due to lower fair value gain of its biological assets, greater loss from its restaurant business, as well as higher loan interest expenses.
- Straits Times Index <.FTSTI> was up 0.13 percent on Friday to 3,086.92 points. The Dow Jones industrial average <.DJI> rose 0.59 percent to finish at 12,391.25. The Standard & Poor's 500 Index <.SPX> gained 0.19 percent to 1,343.01. The Nasdaq Composite Index <.IXIC> edged 0.08 percent higher to 2,833.95.
18-02-2011 08:07:37Singapore Stocks-Likely to rise on Wall St; OCBC, Biosensors in focusFeb 18 (Reuters) - Singapore shares may rise on Friday after open lower on Wednesday after Wall Street shrugged off concerns about rising tensions in the Middle East and mixed data to focus on the healthy corporate outlook.
OCBC , Singapore's second-biggest bank, will be in focus ahead of earnings later on Friday. Analysts expect the bank will report an 11 percent rise in quarterly profit, boosted by strong contributions from its insurance unit and from higher fee and commission income.
Interesting to see how shares of Biosensors International reacts after the company which licenses medical technology, said on Thursday it plans to raise about S$200.8 million ($157 million) through a share placement. (Update at 10am: Yesterday its trading halted , today it openned at .97 a drop of 7 cents but managed to edge back to 1.00 level.)
---MARKET SNAPSHOT @ 2351 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1340.43 0.31% 4.110 USD/JPY 83.24 -0.06% -0.050 10-YR US TSY YLD 3.5763 -- 0.000 SPOT GOLD 1383.69 0.03% 0.390 US CRUDE 86.44 0.09% 0.080 DOW JONES <.DJI> 12318.14 0.24% 29.97 ASIA ADRS <.BKAS> 147.67 0.73% 1.07 -------------------------------------------------------------
> Recent leaders juice up Wall St [.N] > Bonds rise as Mideast tensions spur safety bid [US/] > Swiss franc up on MidEast tension, US dollar falls [USD/] > Gold hits 5-week high on inflation, rising tension [GOL/] > U.S. oil rises on Mideast, Africa turmoil
Stocks and factors to watch:
-- GLOBAL LOGISTIC PROPERTIES - said it signed new and expansion leases of a total of 136,000 square meters in its China portfolio.
-- OTTO MARINE - said it swung to a net loss of S$9.3 million in the fourth quarter, from a net profit of S$9.8 million a year earlier, hit by a fall in sales.
-- ROXY-PACIFIC - The property developer said its fourth quarter net profit more than doubled to S$12 million, from S$5.9 million a year earlier, due to higher revenue from its hotel ownership and property development businesses.
-- TECHNICS OIL & GAS - said on Friday it plans to raise about T$304.2 million ($10.3 million) through issuing Taiwan depository receipts at T$11.70 each.
> Singapore's benchmark Straits Times Index fell 0.38 percent to 3,082.83 points. The DJI average rose 0.24 percent to 12,318.14. The Standard & Poor's 500 Index gained 0.31 percent at 1,340.43. The Nasdaq Composite Index climbed 0.21 percent to 2,831.58.
17-02-2011 (The Edge)
>Palm-oil producers: Crude palm-oil futures for May delivery declined as much as 2.6% in Kuala Lumpur today.
17-02-2011 08:44:04Singapore Stocks-May dip on inflation forecast; NOL in focusFeb 17 (Reuters) - Singapore shares may open lower on Thursday after the government raised the inflation forecast for 2011, pointing to a possibility of further tightening by the central bank, and cut the fourth quarter GDP growth estimates for the city state. The Ministry of Trade and Industry said the inflation in 2011 is likely to be 3-4 percent, up from the previous estimates of 2-3 percent, while Q4 GDP growth has been revised down to 3.9 percent on a seasonally adjusted annualised basis from the third quarter and by 12 percent from a year ago.
>Neptune Orient Lines (NOL) posted better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared. *Citigroup has upgraded NOL to buy on its increasingly bullish view of the sector as low U.S. inventory levels may lead to resilient shipping volumes and strong demand for logistics, a division which gives NOL a competitive edge in the Transpacific trade.
----------------------MARKET SNAPSHOT @ 2353 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1336.32 0.63% 8.310 USD/JPY 83.55 -0.14% -0.120 10-YR US TSY YLD 3.6231 -- 0.000 SPOT GOLD 1375.55 0.10% 1.350 US CRUDE 85.18 0.22% 0.190 DOW JONES <.DJI> 12288.17 0.50% 61.53 ASIA ADRS <.BKAS> 146.60 0.75% 1.09 -------------------------------------------------------------
> S&P rises, doubles its 2009 low [.N] > Prices slip on worries over rising inflation [US/] > U.S. dollar down as Iran news, positioning weigh [USD/] > Gold ends flat but Mideast tensions underpin [GOL/] > Brent oil hits 2-1/2 year high on Israel-Iran tension
Stocks and factors to watch: -- KEPPEL CORP - Keppel Corp, the world's largest oil rig builder, said on Thursday its unit Keppel FELS has secured a contract worth around $380 million from Transocean Offshore Deepwater to build two high-specification jackup rigs.
-- CAPITAMALLS ASIA - the Shopping mall developer said on Thursday its fourth quarter net profit fell 15.2 percent year-on-year to S$144 million ($112.6 million). Revenue fell 16.5 percent to S$55.2 million mainly due to the monetisation of three malls in Malaysia.
-- LIPPO-MAPLETREE INDONESIA RETAIL TRUST - said its fourth quarter distributable income fell 3.3 percent year-on-year to S$12 million.
>Singapore's benchmark Straits Times Index <.FTSTI> was up 0.46 percent on Wednesday to 3,094.72 points. The Dow Jones industrial average <.DJI> gained 0.50 percent to finish at 12,288.17. The Standard & Poor's 500 Index <.SPX> advanced 0.63 percent to 1,336.32. The Nasdaq Composite Index <.IXIC> rose 0.76 percent to 2,825.56.
16-02-2011 08:36:28Feb 16 (Reuters) - Singapore shares may see a weak start on Wednesday, as U.S. indices fell overnight in light volume led by losses in energy and basic material stocks.
Great Eastern Holdings, which is about 87-percent owned by OCBC, proposed a capital reduction exercise to return S$364 million ($284 million) to shareholders.
--------MARKET SNAPSHOT @ 0005 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1328.01 -0.32% -4.310 USD/JPY 83.75 -0.04% -0.030 10-YR US TSY YLD 3.6175 -- 0.013 SPOT GOLD 1372.3 -0.05% -0.650 US CRUDE 84.55 0.27% 0.240 DOW JONES <.DJI> 12226.64 -0.34% -41.55 ASIA ADRS <.BKAS> 145.51 -0.51% -0.75 -------------------------------------------------------------
> Wall St falls in light volume, pullback mulled > Bonds end up after 2-year yields test price support [US/] > Sterling storms ahead; US$ finally up on yen [USD/] > Gold rises on inflation worry, technical buying [GOL/] > Oil drops on demand and inventory concerns
Stocks and factors to watch:
-- CAPITAMALL TRUST - which owns shopping malls in Singapore, said on Wednesday it was setting up S$2.5 billion ($1.95 billion) retail bond programme and offering up to S$200 million two-year retail bonds.
-- SINGAPORE TECHNOLOGIES ENGINEERING - the world's largest aircraft repair firm, said on Tuesday its 2010 net profit rose 11 percent, helped by strong sales from its land systems and marine businesses.
-- FRASERS AND NEAVE - Frasers Centrepoint, a unit of property and beverage group Frasers and Neave, said it has tendered for a mixed-use development site in Singapore with Far East Organization and Sekisui House at a tender price of S$1.02 billion.
-- COSCO CORP (SINGAPORE) said on Tuesday it had won contracts worth over $113 million to build special purpose carriers.
-- HUTCHISON WHAMPOA #0013.hk - has received conditional approval from the Singapore Exchange to list its port assets in a Singapore initial public offering, the Business Times reported on Wednesday.
-- SINGAPORE AIRLINES said it carried 1.4 million passengers in January, 3.2 percent more compared to a year ago. Its passenger load factor dipped one percentage point to 78.1 percent last month compared to the same month a year ago due to additional capacity.
- Singapore's benchmark Straits Times Index <.FTSTI> fell 0.77 percent on Tuesday to 3,080.66 points. The Dow Jones industrial average <.DJI> lost 0.34 percent to finish at 12,226.64. The Standard & Poor's 500 Index <.SPX> lost 0.32 percent at 1,328.01. The Nasdaq Composite Index <.IXIC> retreated 0.46 percent at 2,804.35.
15-02-2011 13:25:51Singapore Stocks-Down at midday on inflation worries, seen softFeb 15 (Reuters) - Singapore shares fell at midday as investors locked in gains from the previous trading session and as funds continue to flow out of emerging markets over inflation concerns.
* Index down 0.6 percent; support of 3,070 pts eyed * Olam down after merger talks with Louis Dreyfus cease * STX OSV rises on strong Q4 result, order win.
Citigroup said that the flow patterns will probably extend for a few more weeks, though at a slower rate, and developed markets have been the winners so far.
Chinese inflation was lower than expected at 4.9 percent in the year to January, but its central bank may stick to its course of monetary tightening to tackle stubbornly high prices. "Whilst China's inflation came in at a lower than expected 4.9 percent, it is still significantly higher than the Chinese government's aim of 4 percent. In addition, the producer price index came in at 6.6 percent, higher than expected," said an analyst at SIAS Research. "Most of the Singapore-listed China counters are trading in the negative region following news of China's inflation data." But he noted that it may be a good time for investors to pick up value plays as China's economy is still growing at a healthy rate and the tightening measures may bring in benefits in the long run.
By the midday break, the Straits Times Index (STI) <.FTSTI> was down 0.63 percent, or 19.58 points, at 3,084.84. The total value of shares traded in the morning session was S$761.9 million, lower than S$829.3 million on Monday.
Shares of commodities firm Olam International fell as much as 3 percent after merger talks between the firm and top flight commodity group Louis Dreyfus failed. But Olam reported on Monday a better-than-expected 8.5 percent fall in second quarter net profit to S$145.4 million ($113.4 million), as higher commodity prices and margins helped offset a decrease in one-time gains. At midday, Olam shares were down 2.6 percent at S$2.96 on a volume of 10.4 million shares.
China 通脹4.9% (10:23)
國家統計局公布，上月內地通脹升幅4.9%，跟市場傳出經修訂後的數字一樣。
原先在未經國家統計局修訂前，市場預期通張高達5.3%。按月比較，1月份的內地消費價格指數按月只升1%。(Source: Mingpao online)
SAN FRANCISCO (
MarketWatch) -- Blue-chip stocks lagged the broader market Monday, as worries over
Wal-Mart Stores Inc.'s
(WMT 54.80, -0.89, -1.60%) business model dragged the
Dow Jones Industrial Average (-5.1 or 0.04%) to a slight loss. A rally in energy and materials stocks, helped by the latest deal in the oil services sector and data showing strong Chinese imports of commodities, helped push the
S&P 500 (SPX 1,332, +3.17, +0.24%) to a small gain.
08:38:52 Feb 15 (Reuters)
- Singapore shares may open slightly higher on Tuesday as investors await inflation data from China after upbeat trade figures from the world's second largest economy had already buoyed sentiment.
>Olam International may be in focus after merger talks between the firm and top flight commodity group Louis Dreyfus failed, reviving speculation about the strategy of France-based Dreyfus. Olam reported on Monday a better-than-expected 8.5 percent fall in fiscal second quarter net profit, as higher commodity prices and margins helped offset a decrease in one-time gains.
-------MARKET SNAPSHOT @ 0000 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1332.32 0.24% 3.170 USD/JPY 83.4 0.12% 0.100 10-YR US TSY YLD 3.6212 -- 0.000 SPOT GOLD 1361.29 -0.03% -0.380 US CRUDE 84.89 0.09% 0.090 DOW JONES <.DJI> 12268.19 -0.04% -5.07 ASIA ADRS 146.26 1.18% 1.71 -------------------------------------------------------------
> Wall St edges up, slack volume points to top > Longer dated debt gains slightly in wait for data > Euro struggles after fall; dollar eyes data > Gold rises, silver jumps 2 pct on industrial demand > Brent surges on Middle East, China but US oil slips
Stocks and factors to watch: -- SINGAPORE EXCHANGE - Australian bourse operator ASX said it was in talks with suitor Singapore Exchange about changes to proposed board arrangements as the sides seek to win political and regulatory support for their proposed $7.9 billion tie-up.
-- Offshore vessel builder STX OSV said on Tuesday its fourth quarter profit after tax rose 142 percent to 326 million Norwegian crowns ($54.6 million) from a year earlier mainly on new order wins. Separately, the firm announced that it had secured a contract for the design and construction of a platform supply vessel.
-- COMFORTDELGRO said on Monday its net profit for the full year ended Dec 31, 2010, rose 4.1 percent to S$228.5 million ($178.2 million) from a year ago partly helped by a stronger operating margin.
-- CHINA MINZHONG - The vegetable producer and processor said on Monday its second quarter net profit rose 53 percent to 156.3 million yuan ($23.7 million) year-on-year on an increase in sales volume and a shift towards products with higher selling prices.
-- BOUSTEAD SINGAPORE said on Monday its third quarter net profit rose 53 percent to S$13.3 million from a year ago. Revenue rose 23 percent to S127.7 million, helped by growth in the firm's engineering services and geo-spatial technology segments.
Straits Times Index was up 0.88 percent on Monday to 3,104.42 points. The Dow Jones industrial average lost 0.04 percent to finish at 12,268.19. The Standard & Poor's 500 Index gained 0.24 percent to 1,332.32. The Nasdaq Composite Index rose 0.28 percent to 2,817.18.
14-02-2011 08:03:56
Keppel Corp, GLP in focus Feb 14 (Reuters) - Singapore shares may open higher on Monday after the resignation of Egyptian President Hosni Mubarak lifted equity markets and reduced the demand for safe havens such as government debt and gold.Keppel Corp may be in focus after it said its unit, Keppel FELS Brazil, secured two contracts with a total value of 500 million Brazilian real ($299.2 million).
-------MARKET SNAPSHOT @ 2342 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1329.15 0.55% 7.280 USD/JPY 83.45 -0.11% -0.090 10-YR US TSY YLD 3.6381 -- 0.000 SPOT GOLD 1356.6 0.04% 0.480 US CRUDE 85.65 0.08% 0.070 DOW JONES <.DJI> 12273.26 0.36% 43.97 ASIA ADRS <.BKAS> 144.55 0.51% 0.73 -------------------------------------------------------------
> Markets end second week of gains after Mubarak resigns [.N] > Bonds rally as higher yields, Egypt draw buyers [US/] > Euro shaky on euro zone worries; dollar firm [USD/] > Gold retreats after Mubarak resigns; support seen [GOL/] > U.S. oil falls to 10-wk low as Mubarak steps down
Stocks and factors to watch:
-- GLOBAL LOGISTIC PROPERTIES - which owns warehouses and other logistic assets, posted on Monday third quarter net profit of $82.1 million, compared with a loss of $305.4 million a year earlier. Revenue grew 12.9 percent to $125.2 million mainly due to the completion and stabilisation of the firm's projects in China.
-- JAYA HOLDINGS - Affinity Equity Partners has sold its majority stake in Singapore's troubled shipping firm Jaya for S$202.6 million ($158 million) to a Deutsche Bank-led consortium, a unit of Deutsche Bank said.
-- STARHUB - said on Friday its fourth quarter net profit rose 8.4 percent to S$80.4 million ($62.8 million) from a year earlier, helped by higher revenue from mobile and fixed network services.
-- MEWAH INTERNATIONAL - said on Friday it will invest an additional $200 million to buy land for building consumer pack products and logistics facilities in Zhangjiagang, China.
-- Sembcorp Industries, an energy, water and marine group, said on Friday it had acquired a 49 percent stake in Thermal Powertech Corporation India (TPCIL) for S$293 million ($228.5 million). TPCIL will build, own and operate a 1,320 megawatts coal-fired power plant in Krishnapatnam, India.
-- OLAM INTERNATIONAL - Commodity firm Olam International will be announcing its second quarter results on Monday. Daiwa forecasted adjusted net profit of S$88.8 million and revenue of S$3.3 billion, compared with S$67.8 million and S$2.7 billion, respectively, a year earlier.
- Straits Times Index was down 0.84 percent on Friday to 3,077.27 points.
-The Dow Jones industrial average gained 0.36 percent to finish at 12,273.26. The Standard & Poor's 500 Index advanced 0.55 percent to 1,329.15. The Nasdaq Composite Index rose 0.68 percent to 2,809.44.
12-02-2011 DJI up 43.97 pts (0.36%) on Friday; Local Banks Performing
DBS Group Holdings’ 4Q10 earnings and FY10 results, which came in slightly above expectations, should give shareholders of the two other local banks some reason for cheer too.
Both RBS and CIMB reiterated their outperform recommendations following the results. The bank’s 4Q10’s net profit of $678 million, up 38% yoy but down 6% qoq came in marginally above consensus estimates of $669 million based on a Bloomberg survey. Full-year net profit rose 28% yoy to a record $2.65 billion (excluding the $1 billion non-cash write-off in respect of DBS Hong Kong taken in 2Q10).
Rivals Oversea-Chinese Banking Corporation and United Overseas Bank, which will be reporting on Feb 18 and Feb 25 respectively, is expected to perform just as well. Already, the consensus forecast for OCBC’s net profit is $2.28 billion for FY10, and $2.49 billion for UOB, according to Bloomberg.11-02-2011 12:53:26
Singapore Stocks-Lower at midday on China inflation worries. Index falls 0.92 percent, 3,010 support eyed * DBS falls 1.4 percent after reporting quarterly earnings
Feb 11 (Reuters) - Singapore shares fell 0.9 percent by midday on Friday, as investors remained jittery ahead of the release of China's inflation data and Egypt's political turmoil. By the midday break, the STI was down 28.60 points at 3,074.79. The total value of shares traded in the morning session was S$1.06 billion, up from S$971 million on Thursday.
"There are lingering fears over when this consolidation phase will end. Especially with China expected to release January's inflation data soon, risk aversion is still present in the market," said an analyst at SIAS Research. "The question on everyone's minds is when will China's inflation risk subside," the analyst said, adding he expects the STI to find support at 3,010 points in the near term.
--DBS Group fell 1.4 percent to S$14.62 after it reported better-than-expected quarterly earnings, as sentiment was hit by a weak market due to the political turmoil in Egypt, traders said. "Their results were slightly above consensus, but DBS shares were dragged lower mainly because of the weaker overall market sentiment," said a local trader.
+) Keppel Land shares rose as much as 2.4 percent, rebounding from a four-month low as the firm's outlook remains bright, traders said. At the midday, Keppel Land were 0.2 percent lower at S$4.11 with over 4.6 million shares changing hands. "Keppel Land was one of the hardest hit by the rate hike in China as they have a larger exposure to the country, but I think it was oversold as fundamentally the firm still remains strong," said an analyst at CIMB Research.
-) Raffles Education fell as much as 3.4 percent after it reported weak quarterly earnings, traders said. Raffles Education said its second quarter net profit fell 24 percent to S$5.6 million from S$7.5 million a year ago, hit by a fall in revenue due to foreign exchange losses. At midday, its shares were 1.7 percent lower at S$0.29 with over 15.4 million shares traded.
11-02-2011 08:30:52Feb 11 (Reuters) - Singapore shares may see a weak start on Friday, as investors lack direction from a mixed performance on Wall Street and remained anxious about the political turmoil in Egypt. DBS posted a better than expected 38 percent rise in quarterly profit on falling bad-debt charges and higher trading income.
---------MARKET SNAPSHOT @ 0015 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1321.87 0.07% 0.990 USD/JPY 83.35 0.17% 0.140 10-YR US TSY YLD 3.706 -- 0.004 SPOT GOLD 1364.09 0.09% 1.190 US CRUDE 87.57 0.97% 0.840 DOW JONES <.DJI> 12229.29 -0.09% -10.60 ASIA ADRS 143.82 -0.67% -0.97 -------------------------------------------------------------
> Mubarak speech sparks late gain; Dow hit by Cisco > Auctions done, U.S. yields resume upward trek. Dollar firm in Asia; Aussie eyes cenbank testimony
> Gold falls as dollar rises after jobs, Egypt eyed > Brent crude pares losses after Mubarak speech
>Stocks and factors to watch:
+) FRASER AND NEAVE said its first quarter net profit rose 72 percent to S$238.1 million from S$138.4 million a year ago, helped by higher sales from its food and beverage segment.
-- Ascendas Reit said on Friday it will buy a business property in Shanghai, China, for a total of 587.9 million yuan ($89.3 million)
-) RAFFLES EDUCATION said its second quarter net profit fell 24 percent to S$5.6 million from S$7.5 million a year ago, hit by a fall in revenue due to foreign exchange losses.
-- TIGER AIRWAYS said it carried 553,000 passengers in January, 29 percent more than the year ago period. However, its load factor fell 2 percentage points to 84 percent last month.
+) BUKIT SEMBAWANG ESTATES said its October-December net profit jumped by more than 33 times to S$99.6 million, compared to a year ago, as it recognized higher profits from its residential properties.
+) PEC reported an 11 percent rise in its second quarter net profit to S$10.2 million, up from S$9.2 million a year earlier, due to higher gross margins and stronger sales from project works. The firm's order book as of December 31 was about S$186 million.
+) Technics Oil & Gas said it has signed a bookbuilding agreement with Polaris Securities and plans to issue 80 million Taiwan depository receipts at T$11-T$13 each.
> Straits Times Index fell 1.5 percent to 3,103.39 points on Thursday. The Dow Jones industrial average lost 0.09 percent to 12,229.29. The Standard & Poor's 500 Index was 0.07 percent higher at 1,321.87. The Nasdaq Composite Index gained 0.05 percent 2,790.45.
10-02-2011 08:22:17
Feb 10 (Reuters) - Singapore shares may see a weak start on Thursday, as a sober economic view from the U.S. central bank and profit-taking weighed on global markets.
>Singapore Exchange will be in focus as a slew of mergers and acquisition activity involving exchanges increases the chances of Australian regulators approving its proposed takeover of ASX. ASX shares jumped more than 4 percent in Australian trading on Thursday. Reuters and other media reported on Wednesday that Deutsche Boerse is in advanced talks to buy NYSE Euronext in a deal that would create the world's largest trading powerhouse.
>Singapore Telecom reported a smaller-than-expected 2.2 percent drop in quarterly profit, as growth from Singapore and Australia cushioned the falling contributions from its associates.
------MARKET SNAPSHOT @ 0007 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1320.88 -0.28% -3.690 USD/JPY 82.41 0.07% 0.060 10-YR US TSY YLD 3.6758 -- 0.023 SPOT GOLD 1363.55 0.05% 0.660 US CRUDE 86.9 0.22% 0.190 DOW JONES <.DJI> 12239.89 0.06% 6.74 ASIA ADRS 144.79 -1.19% -1.74 -------------------------------------------------------------
> Wall St lower on profit taking; Cisco falls late. > US Treasuries rally as 10-yr note sale gets love > US dollar down vs euro on Bernanke, Treasury yields
> Gold flat but dollar drop, Bernanke view underpin > Brent rises on Egypt, dollar;US oil down on stockpiles
Stocks and factors to watch:
-- Buyers are in advanced discussions to purchase Affinity Equity Partners' stake in struggling Singapore shipping company Jaya Holdings, according to sources involved in the matter, after Affinity struck a deal with a majority of its bank lenders.
-- Chinese fashion retailer Eratat Lifestyle said Singapore Exchange has rejected its plan to list 81.9 million new shares.
- Singapore fashion retailer FJ Benjamin said on Wednesday its fiscal second quarter net profit more than doubled to S$4 million ($3.1 million) from S$1.7 million a year ago on the back of strong festive spending and tourist arrivals in the region.
-- Construction and property firm Sim Lian said its net profit for the October-December period rose 76 percent to S$53.8 million from S$30.6 million a year ago, boosted by higher revenue contribution from its construction business.
- Straits Times Index fell 1.09 percent on Wednesday to 3,150.56 points. The Dow Jones industrial average was 0.06 percent higher at 12,239.89. The Standard & Poor's 500 Index retreated 0.28 percent to 1,320.88. The Nasdaq Composite Index lost 0.29 percent at 2,789.07.
09-02-2011 08:19:36 China rate hike may weighFeb 9 (Reuters) - Singapore shares may see a weak start on Wednesday, as China's move to hike interest rates is likely to dampen investor sentiment despite higher Wall Street indices overnight.
China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.
>Total Access Communication , Thailand's second-largest mobile operator, may be in focus after it said on Tuesday it would delist from the Singapore stock exchange within three years, saying it gained little from dual listings.
--------MARKET SNAPSHOT @ 2358 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1324.57 0.42% 5.520 USD/JPY 82.29 -0.06% -0.050 10-YR US TSY YLD 3.7373 -- 0.000 SPOT GOLD 1361.87 -0.13% -1.720 US CRUDE 87.44 0.58% 0.500 DOW JONES <.DJI> 12233.15 0.59% 71.52 ASIA ADRS <.BKAS> 146.53 0.83% 1.21 -------------------------------------------------------------
> McDonald's lifts Dow for seventh day; volume light > U.S. government debt weaker, worst run since Dec [US/] > Euro reigns vs US dollar, Swiss franc as risk returns
>Gold jumps 1 pct on technicals, inflation fears > Brent up on Egypt uncertainty, U.S. crude dips
Stocks and factors to watch:
>FEDERAL INTERNATIONAL - The offshore services firm said it expects to report a loss for the fourth quarter due to impairment on its debt and assets. It will announce its full year results by March 1. > Memstar Technology and United Envirotech will form a joint venture to undertake a 280 million yuan ($42.7 million)project that requires them to acquire, upgrade and operate a wastewater treatment and recycling plant in China.
9-Feb-2011, 8am
STI closes lower on China’s tightening measures
The FSSTI index ended 0.2% lower as concerns over possible tightening measures in China hit banking counters. DBS lost 0.4% to S$15.12, OCBC lost 0.8% to S$9.75 and UOB lost 0.6% to S$19.58. The broader market saw 217 gainers and 223 losers, with trading value amounting to S$1.44b.
The US markets extended gain to multi-year highs on positive corporate news. The DJIA rose 0.6% to 12,233 and the S&P 500 gained 0.4% to 1,324 as McDonald’s Corp reported better-than-expected growth in its January same-store sales. Gainers and losers were closely matched on the NYSE, with 0.9b shares traded. US economic releases for tonight include MBA mortgage applications.
The FSSTI is forming a short-term downtrend, making lower highs and lower lows. In our view, bears are taking hold of the market for now with downside momentum gaining. There are several negative technical indicators in place, namely the 26-day and 12-day moving averages and the MACD signal. We advocate ‘long’ investors to stay out of the market as the index may retrace to its support at 3,118.
F&N: Substantial shareholder increases stake. Kirin Holdings increased its stake to 15% from 14.68% through buying shares on the open market. Kirin first became a substantial shareholder after it acquired Temasek Holding’s entire stake in the conglomerate for S$6.50/share in July last year. (Source: The Business Times)Sembcorp: Prequalified to bid for Oman’s biggest greenfield power plant development. Sembcorp is among six groups prequalified to bid for the 2,000MW independent power project in Sur. The prequalified companies have reportedly until early-March to submit their final bids, with the winning bidder expected to complete the project’s first phase by mid-13, while full commissioning is expected in mid-14. (Source: The Business Times)
08-02-2011 08:18:30By Eveline Danubrata SINGAPORE, Feb 8 (Reuters) - Singapore shares may open higher on Tuesday after U.S. stocks rose on Monday to levels not seen since the global financial crisis, and showed signs of pushing higher.
Palm oil firm Wilmar International said its proposed acquisition of Benso Oil Palm Plantation, which produces palm oil and palm kernel oil, has been approved by the Securities and Exchange Commission of Ghana. The Indonesian government also said that Wilmar, the world's largest listed palm oil firm, will invest $900 million to build factories in the country to produce palm oil products.
--------MARKET SNAPSHOT @ 2351 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1319.05 0.62% 8.180 USD/JPY 82.28 -0.04% -0.030 10-YR US TSY YLD 3.6399 -- 0.000 SPOT GOLD 1350.74 0.02% 0.280 US CRUDE 87.48 0.00% 0.010 DOW JONES <.DJI> 12161.63 0.57% 69.48 ASIA ADRS <.BKAS> 145.32 0.31% 0.45 -------------------------------------------------------------
> Wall St advances on M&A with further gains seen > U.S. bonds slip as inflation, rate hike worries weigh > Euro flat vs dollar as ECB rate hike hopes diminish
> Gold rises but inflation, rate hike worries weigh > Oil falls as Egypt, supply disruption fears ease Stocks and factors to watch:
-- Aluminium products firm Midas Holdings said on Monday it has secured a contract worth 82 million yuan ($12.5 million) from CNR Changchun Railway Vehicles to supply aluminium alloy extrusion profiles for an inter-city high speed train project in China.
-- HIAP SENG ENGINEERING said on Monday it has been awarded a letter of intent for an engineering, procurement and construction contract worth around S$10.3 million ($8.1 million) for a Tembusu project.
- STI Index was down 0.59 percent on Monday to 3,192.18 points. The Dow Jones industrial average gained 0.57 percent to finish at 12,161.63. The Standard & Poor's 500 Index rose 0.62 percent to 1,319.05. The Nasdaq Composite Index advanced 0.53 percent to 2,783.99.
07-02-2011 08:14:53Feb 7 (Reuters) - Singapore shares may open higher on Monday, tracking a rise in Japanese stocks and helped by Wall Street's stronger finish on Friday. Genting Singapore may be in focus after Las Vegas Sands Corp reported strong earnings from its Marina Bay Sands casino in Singapore.
------- MARKET SNAPSHOT @ 2357 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1310.87 0.29% 3.770 USD/JPY 82.22 0.02% 0.020 10-YR US TSY YLD 3.6397 -- 0.000 SPOT GOLD 1344.04 -0.21% -2.860 US CRUDE 89.34 0.35% 0.310 DOW JONES <.DJI> 12092.15 0.25% 29.89 ASIA ADRS <.BKAS> 144.87 -0.27% -0.39 -------------------------------------------------------------
> S&P 500 posts best week in nine, tech leads > US bonds swoon on inflation, rate-hike jitters > Dollar up as US unemployment falls, more gains seen.
> Gold retreats on Egypt report, safe haven fades > Oil falls on unfounded Egypt report, profit-taking
Stocks and factors to watch:
>SINGAPORE TELECOM - Advanced Info Service Pcl , Thailand's top mobile phone operator which is 21 percent owned by SingTel, last Thursday rejected a request by state-owned telecoms firm TOT for $2.4 billion in compensation for losses resulting from concession changes. -- United Fiber, a forestry and pulp firm, said on Monday a judge has ruled in favour of China National Machinery and Equipment Import and Export Corp (CMEC) which has demanded payment of $19.7 million from United Fiber.
-- UOL GROUP said on Wednesday it had promoted its chief operating officer Liam Wee Sin to president. He will be responsible for day-to-day management of the property division of UOL Group, except for finance and legal matters.
- STI rose 0.83 percent on Wednesday to 3,211.12 points. The Singapore market was closed on Thursday and Friday for Chinese New Year. The Dow Jones industrial average gained 0.25 percent on Friday to finish at 12,092.15. The Standard & Poor's 500 Index advanced 0.29 percent to 1,310.87. The Nasdaq Composite Index rose 0.56 percent to 2,769.30.
|
| Wed, 02 Feb 2011 15:30 (Bloomberg) |
STI gained 0.9% to 3,211.12 at the close, where the market shut for the afternoon for the Lunar New Year. All but four stocks rose in the benchmark index of 30 companies. |
《經濟通通訊社２日專訊》長實（００００１）及和黃（０００１３）今日升勢凌人，尾市
升幅擴大至逾５％，各造１３４元及９５﹒３元。（ｍｓ）2 Feb 2011 (The Edge Singapore)
Singapore shares may open higher on Wednesday after global markets rallied on strong manufacturing data and easing concerns about the Middle East, although volumes are expected to be light on the eve of Chinese New Year. Citigroup in a note its clients on Wednesday said ample global liquidity suggests continued Singapore dollar strength, low interest rates and buoyant commodity prices. STI was up 0.16% to 3,184.74 points.
Here are some stocks and factors to watch:
>
SATS said its third-quarter net profit fell 4.1% to $51.2 million year-on-year.
>Boustead Singapore which develops industrial facilities, said it has secured a contract to design, build and lease a private jet sales and service facility in Singapore for Hawker Pacific Asia. The contract value was not disclosed. >
Tuan Sing said its fourth quarter net profit rose 66% to $37.4 million year-on-year. The firm said it plans to market launch the estimated 400 units at Seletar, one of the two residential sites it secured in Singapore, by the fourth quarter of 2011.
...+)Four Southeast Asia exchanges,
Singapore Exchange, the Philippine Stock Exchange, Bursa Malaysia and the Stock Exchange of Thailand said the design study of the technology framework for the Asean trading link has been completed. The link that will allow cross-border trading is expected to go live towards the end of 2011.
01-02-2011 08:18:21Mood cautious on Egypt; Yanlord, SMRT in focusFeb 1 (Reuters) - Singapore shares may open higher on Tuesday, following overnight gains on Wall Street, as healthy earnings and signs of improving U.S. economic performance offset continued worries about the political situation in Egypt and the rest of the Middle East.
>Singapore-listed Chinese developer Yanlord said on Monday it has teamed up with GIC Real Estate to buy a prime residential site in Tianjin, China for 1.16 billion yuan ($176.2 million).
>SMRT and ComfortDelgro in the spotlight after authorities deferred the mid-year review of bus and subway train fares till the fourth quarter of the year.
------MARKET SNAPSHOT @ 2359 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1286.12 0.77% 9.780 USD/JPY 82.09 0.05% 0.040 10-YR US TSY YLD 3.3743 -- 0.000 SPOT GOLD 1332.35 0.03% 0.450 US CRUDE 92.08 -0.12% -0.110 DOW JONES <.DJI> 11891.93 0.58% 68.23 ASIA ADRS <.BKAS> 141.12 1.01% 1.41 -------------------------------------------------------------
> Wall St gains on earnings, economy; Egypt fears ease. Bonds fall as data, stocks overshadow Egypt. Euro heads for second straight monthly gain vs dollar
> Gold posts 1st monthly loss since July; Egypt eyed. Brent oil surges past $100 on Egypt anxiety
>Stocks and factors to watch:
-- WING TAI HOLDINGS - Property developer Wing Tai said on Monday its net profit for its second quarter ended Dec 31 rose 142 percent from a year ago to S$53.9 million ($42.1 million), boosted by higher contributions from development projects and Hong Kong-listed associate. -- NEPTUNE ORIENT LINES said on Monday its container shipping volumes for the seven weeks to Dec 31 rose 26 percent from a year ago, helped by higher traffic on the intra-Asia and Asia-Europe routes.
-- SINGAPORE EXCHANGE - Singapore Exchange, Asia's second-largest listed bourse operator, on Monday asked for public feedback on the introduction of new metals futures contracts for trading on its derivatives market. -- YANGZIJIANG SHIPBUILDING - plans to establish a joint venture with four Chinese firms to provide electrical systems for building commercial vessels and marine engineering projects. A unit of Yangzijiang will invest 20 million yuan ($3 million) for a 20 percent stake in the joint venture company.
-- RENEWABLE ENERGY ASIA GROUP said on Monday it has received approval to build a 10-megawatt solar energy farm from Inner Mongolia authorities. The total investment cost is around 190 million yuan. -- Mercator Lines, a Singapore-listed dry bulk shipping company, said on Tuesday its third quarter net profit fell 32 percent to $5.1 million year-on-year. Revenue rose 17 percent to $40.5 million but was offset by higher vessel hire costs and other expenses.
1 Feb 2011 8am
FSSTI down 1.6% to 3,197.7; US markets firmer
The FSSTI closed 1.6% lower to 3,197.7, led by unrest in Egypt and weaker regional markets. Chinese shipbuilder JES rose 1.5% to S$0.345 after it announced its orderbook soared to US$1.6b. The broader market saw 106 gainers and 417 losers, with trading value amounting to S$1.74b.
The US markets recovered some lost ground on Monday with the DJIA up 0.6% to 11,891.9 and the S&P 500 index gained 0.8% to 1,286.1. Energy companies performed best amongst the S&P’s sector groups while consumer staples performing the worst. Advancers outpaced decliners 2:1 on the NYSE, with 1.2b shares changing hands.
The FSSTI had gapped down and traded lower to lose a total of 50pts or 1.6% at closing. Investors would have escaped the brunt if they had followed our ‘stay out’ advice in the 27 January note. Technicals at this moment remains negative with price trading below the two moving averages coupled with bearish MACD. Next support remains at 3,100 with resistance at 3,218.
