SINGAPORE, May 6 (Reuters) - Financial stocks such as DBS
Group and United Overseas Bank may be in
focus on Wednesday as investors await results of U.S. stress
tests on major banks.
U.S. stocks fell on Tuesday as cautious investors fretted about impending bank stress test results and energy shares succumbed to the pressure of lower oil prices.
> Profit-taking, bank tests trip market; Disney up late > Dollar rebounds from one-month low as stocks retreat > Bonds dip on supply as services outlook less grim > Gold ends lower on weak demand, risk appetite > Oil slips from 2009 high, weak demand weighs
Stocks and factors to watch:
-- CAPITALAND LIMITED
- Southeast Asia's largest developer said on Wednesday its wholly-owned unit, The Ascott Group Limited, has been awarded a contract by Shanghai Li Xing Real Estate Development Co., Ltd to manage a new serviced residence property in Shanghai, which is targeted to open in 2010.
-- SINGAPORE TECHNOLOGIES ENGINEERING
- ST Engineering reported on Tuesday a 30 percent fall in first quarter net profit to S$85.2 million ($57.84 million) from a year ago, mainly on reduced sales. Nomura downgraded ST Engineering to 'neutral' from 'buy', citing the defence and aerospace group's disappointing first quarter revenues.
-- SINGAPORE TELECOMMUNICATIONS LTD
- SingTel has been given an April 2014 deadline to divest more than 75 percent of its local Internet assets - a move which could yield substantial returns for the operator over the next five years, the Business Times reported.
-- CREATIVE TECHNOLOGY LTD.
- Creative Technology reported on Tuesday a net loss of $41.8 million for its third quarter ended March 31, compared to a $3 million profit made last year, citing the effect of the global economic downturn on demand for its products.
- Singapore's benchmark Straits Times Index rose 2.25 percent to 2,074.35 points on Tuesday.
- The Dow Jones Industrial Average fell 0.19 percent to 8,410.65 points on Tuesday. The Nasdaq Composite Index was down 0.54 percent to 1,754.12 points.
(Reporting by Eveline Danubrata, editing by Dhara Ranasinghe)
((laurence.tan@thomsonreuters.com; +65 6403 5667; Reuters
Messaging: laurence.tan.reuters.com@reuters.net)
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Japan S.Korea China Hong Kong Taiwan SE Asia Australia/NZ India OTHER MARKETS: Wall Street Gold Currency Eurostocks Oil JP bonds ADR Report LME metals US bonds STOCKS NEWS US, Europe, Asia: DIARIES & DATA: IPO diary & data U.S. earnings diary Singapore diary Eurostocks Week Ahead Asia earnings diary European diary Wall Street Week Ahead TOP NEWS: Asian companies U.S. company news European companies Forex news Global Economy Technology Telecoms Media news Banking news General/political Asia Macro A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt (Local currency) LME price overview For more Singapore news, please click on ($1=1.476 Singapore Dollar) ($1=1.473 Singapore Dollar) Keywords: SINGAPORE MARKET STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
U.S. stocks fell on Tuesday as cautious investors fretted about impending bank stress test results and energy shares succumbed to the pressure of lower oil prices.
> Profit-taking, bank tests trip market; Disney up late > Dollar rebounds from one-month low as stocks retreat > Bonds dip on supply as services outlook less grim > Gold ends lower on weak demand, risk appetite > Oil slips from 2009 high, weak demand weighs
Stocks and factors to watch:
-- CAPITALAND LIMITED
- Southeast Asia's largest developer said on Wednesday its wholly-owned unit, The Ascott Group Limited, has been awarded a contract by Shanghai Li Xing Real Estate Development Co., Ltd to manage a new serviced residence property in Shanghai, which is targeted to open in 2010.
-- SINGAPORE TECHNOLOGIES ENGINEERING
- ST Engineering reported on Tuesday a 30 percent fall in first quarter net profit to S$85.2 million ($57.84 million) from a year ago, mainly on reduced sales. Nomura downgraded ST Engineering to 'neutral' from 'buy', citing the defence and aerospace group's disappointing first quarter revenues.
-- SINGAPORE TELECOMMUNICATIONS LTD
- SingTel has been given an April 2014 deadline to divest more than 75 percent of its local Internet assets - a move which could yield substantial returns for the operator over the next five years, the Business Times reported.
-- CREATIVE TECHNOLOGY LTD.
- Creative Technology reported on Tuesday a net loss of $41.8 million for its third quarter ended March 31, compared to a $3 million profit made last year, citing the effect of the global economic downturn on demand for its products.
- Singapore's benchmark Straits Times Index rose 2.25 percent to 2,074.35 points on Tuesday.
- The Dow Jones Industrial Average fell 0.19 percent to 8,410.65 points on Tuesday. The Nasdaq Composite Index was down 0.54 percent to 1,754.12 points.
(Reporting by Eveline Danubrata, editing by Dhara Ranasinghe)
((laurence.tan@thomsonreuters.com; +65 6403 5667; Reuters
Messaging: laurence.tan.reuters.com@reuters.net)
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Japan S.Korea China Hong Kong Taiwan SE Asia Australia/NZ India OTHER MARKETS: Wall Street Gold Currency Eurostocks Oil JP bonds ADR Report LME metals US bonds STOCKS NEWS US, Europe, Asia: DIARIES & DATA: IPO diary & data U.S. earnings diary Singapore diary Eurostocks Week Ahead Asia earnings diary European diary Wall Street Week Ahead TOP NEWS: Asian companies U.S. company news European companies Forex news Global Economy Technology Telecoms Media news Banking news General/political Asia Macro A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt (Local currency) LME price overview For more Singapore news, please click on ($1=1.476 Singapore Dollar) ($1=1.473 Singapore Dollar) Keywords: SINGAPORE MARKET STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
