Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Shares extend losses for fourth-straight day

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Shares extend losses for fourth-straight day Oct 11th 2012, 07:10 Thu Oct 11, 2012 3:10am EDT Singapore stocks extended losses for the fourth straight day tracking other Asian bourses, on concerns over global growth as weak forecasts from large U.S. companies dampened confidence. Companies sensitive to economic growth cycles such as commodity trader Olam International Ltd underperformed the broader market, which was down 0.3 percent at 3,025.39. Olam shares were down 1.8 percent at S$1.94, while property developer Hongkong Land Holdings Ltd fell 1.3 percent to $5.93 and commodity firm Noble Group Ltd dropped 1.2 percent to S$1.285. Oil and gas companies such as STX OSV Holdings Ltd bucked the trend on expectations of strong order flow and as oil prices rose on Thursday, fuelled by rising tensions in the Middle East. STX OSV said on Wednesday it secured contracts for two offshore subsea construction vessels for Siem Offshore , but did not say how much they were worth. 1452 (0652 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com; Editing by Prateek Chatterjee) ************************************************************ 2:47 STOCKS NEWS ASEAN-Companies to see upbeat Q3 earnings-Morgan Stanley Morgan Stanley expects upbeat third-quarter earnings across Southeast Asian markets, with the MSCI Southeast Asia Index likely to post profit growth of 16.2 percent from a year ago. The brokerage expects MSCI Thailand to see the strongest year-on-year earnings growth at 34.6 percent, driven mostly by energy and financial companies, followed by Malaysia at 19.3 percent. Singapore is forecast to grow 14.5 percent, boosted by banks, capital goods and telecommunications companies, Morgan Stanley said, adding that the transportation sector is projected to see the strongest growth, mainly due to an anticipated reversal in container shipping firm Neptune Orient Lines's (NOL) earnings. In August, NOL posted its sixth straight quarterly net loss in the April-June period, mainly due to one-time charges for restructuring and vessels held for sale. Its shares are down 2 percent since the start of the year, underperforming the FTSE ST Mid Cap's 26 percent gains. Morgan Stanley is 'overweight' on Thailand financial companies such as Bangkok Bank Public Company, and Singapore consumer firms. It is 'underweight' on Singapore's banks, Indonesia energy and materials firms including PT Semen Gresik and Thai utilities and consumer discretionary stocks. Indonesia is likely to see third-quarter earnings rise 17.5 percent compared with a year ago, with its financials, energy and telecommunications sectors outperforming broad Indonesia earnings. "Amid a falling coal price environment, the upbeat consensus view on the sector could leave room for disappointment," said Morgan Stanley. For related story on Southeast Asian equities click 1424 (0624 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com); Editing by Jijo Jacob ************************************************************ 10:38 STOCKS NEWS SINGAPORE-M1 to post lower Q3 net profit- Maybank Telecommunications firm M1 Ltd is expected to post lower net profit in the third quarter compared to the previous three months, but dividends should still be maintained, Maybank Kim Eng said. By 0231 GMT, M1 shares were up 0.4 percent at S$2.66 and have gained 6.4 percent so far this year, compared to the FTSE ST Telecommunications Index's 6 percent rise. The brokerage forecasts M1 to report net profit of S$33-34 million in the third quarter, as earnings before interest taxes depreciation and amortisation margin is expected to fall further quarter-on-quarter. Margins may stay depressed in the fourth quarter from subsidies for iPhone 5, but will see an improvement in the subsequent quarters, Maybank said. Although positive catalysts are limited for M1, with dividends likely to be maintained at 2011 level of S$0.45 a share, the stock's yield of 5.5 percent should limit downside, Maybank said. 1030 (0230 GMT) (Reporting by Charmian Kok in Singapore; Editing by Sunil Nair; charmian.kok@thomsonreuters.com) ************************************************************ 9:51 STOCKS NEWS SINGAPORE-Nam Cheong's 2012 profits likely higher - DMG DMG & Partners said Singapore-listed Malaysian offshore vessel builder Nam Cheong Ltd's net profit this year is likely to exceed what it made in 2011, helped by strong order wins. By 0137 GMT, Nam Cheong shares were up 2.2 percent at S$0.235. They have surged about 80 percent this year, compared with the Thomson Reuters Asia Pacific + Russia Industrial Goods Index's 5 percent drop. Nam Cheong said on Wednesday it won contracts of $52.1 million to build two platform supply vessels from customers based in West Africa. DMG said the two vessels are expected to contribute at least 20 million ringgit to Nam Cheong's profits, meaning it could post 105-100 million ringgit in profits, exceeding last year's net profit of 93.2 million ringgit. "Nam Cheong has run up a good 23 percent since our initiation, but we still see deep value in this company," said DMG in a report, maintaining its 'buy' rating and a target price of S$0.29 on the firm. 0941 (0141 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com; Editing by Prateek Chatterjee) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions