Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Index closes up, gains 14 pct in Q1

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STOCKS NEWS SINGAPORE-Index closes up, gains 14 pct in Q1 Mar 30th 2012, 10:21 Fri Mar 30, 2012 6:21am EDT Singapore shares ended higher on Friday, with the main index clocking gains of around 14 percent for the first quarter, with property and offshore marine stocks outperforming the broader market. The FT ST Oil & Gas index was up 25 percent, while the FT ST Real Estate advanced 22 percent in the quarter. The benchmark Straits Times Index ended the day 0.6 percent, or 16.4 points, higher at 3,010.5. Kenneth Ng, CIMB's Singapore head of research, highlighted offshore marine as his top sector pick, due to persistently high oil prices, and also real estate investment trusts because of attractive dividend yields. 1815 (1015 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ******************************************************** 13:15 STOCKS NEWS SINGAPORE-Singapore shares edge higher by midday Singapore shares edged rose by midday on Friday as the last day of the first quarter saw fund managers "window dressing" their funds, analysts said. The Straits Times Index was up 0.25 percent, or 7.39 points, at 3,001.48 midway into the trading session. Big-cap gainers included Singapore Telecommunications Ltd and DBS Group Holdings Ltd - the top two stocks traded by value. "We are seeing a slight pickup of the STI as some of the portfolio managers are adjusting their portfolios," SIAS Research's lead analyst Ng Kian Teck said, adding that mainly blue chips were being traded. 1257 (0257 GMT) (Reporting by Mark Tay in Singapore; mark.tay@thomsonreuters.com) ******************************************************** 11:09 STOCK NEWS SINGAPORE-CIMB upbeat on Mapletree Logistics Growth in Asia's logistics sector will drive demand for portfolios of Mapletree Logistics Trust (MLT) in the medium term, CIMB said, highlighting the firm as its preferred pick in the industrial Real Estate Investment Trust sector. "Year-to-date, MLT has already achieved close to S$400 million of acquisitions, surpassing our earlier forecast of S$300 million. We believe there is more to come as management had earlier guided it is likely to buy assets from its sponsor this year," the broker said in a note. CIMB was upbeat on growth prospects in the three countries - Malaysia, Japan and South Korea - in which MLT recently acquired assets. CIMB raised its acquisition assumptions for 2012 to S$500 million and expects 70 percent of the funding by perpetual securities and the remainder by debt. "Within the industrial REIT space, MLT is our preferred pick for its limited volatility and predictable cash flows supported by long lease tenures and MNC tenants," CIMB said. Out of 15 brokers tracking MLT, 13 have a buy or strong buy and two have a hold rating, Reuters data shows. To read a statement, click 1100 (0300 GMT) (Reporting by Anshuman Daga in Singapore; anshuman.daga@thomsonreuters.com) ******************************************************** 08:49 STOCKS NEWS SINGAPORE-Singapore index futures fall Singapore index futures dipped 0.38 percent, indicating a weak start for the benchmark Straits Times Index . Seoul shares opened slightly lower with shipbuilders leading declines, while Japan's Nikkei edged lower as investors locked in profits on Friday. 0844 (0044 GMT) (Reporting by Mark Tay in Singapore; mark.tay.thomsonreuters.com) Link this Share this Digg this Email Reprints

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