Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Index fall to 1-mth low, below 50-day MA

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STOCKS NEWS SINGAPORE-Index fall to 1-mth low, below 50-day MA Apr 9th 2012, 06:25 Mon Apr 9, 2012 2:25am EDT Singapore shares fell to the lowest in about a month, largely in line with regional bourses, after data showing a slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy. The Straits Times Index shed 0.9 percent to 2,960.8 points, after hitting an intra-day low of 2,958.4, the weakest since March 8. The STI dropped below its 50-day moving average of about 2,977. MSCI's broadest index of Asia Pacific shares outside Japan lost 0.8 percent. "There are definitely some fresh concerns about the U.S, though we are still trying to see whether the sluggish payroll is a one-off thing," said Ng Kian Teck, lead analyst at SIAS Research. Many companies seen as bellwethers of the global economy underperformed the market. Container shipping company Neptune Orient Lines lost 2.5 percent, while commodities firm Noble Group Ltd declined 1.9 percent. But firms with exposure to Myanmar gained further on expectations they will benefit from the easing of U.S. sanctions on the country. Property developer Yoma Strategic Holdings Ltd surged 11 percent and petroleum firm Interra Resources Ltd gained 5.9 percent. Yoma was the top traded stock by both value and volume in the Singapore market. 1400 (0600 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 12:07 STOCK NEWS SINGAPORE-Tiong Woon up after claim withdrawal Shares of Singapore's Tiong Woon Corp Holding Ltd rose as much as 8 percent after the engineering and construction firm said Haosen Marine Pte Ltd had withdrawn a court claim against its subsidiary, Tiong Woon Oasis Pte Ltd. Tiong Woon shares were up 4 percent at S$0.26 on volume of 12.9 million shares, around 16 times the average full-day volume traded over the past 30 days. The stock has gained 39 percent so far this year. Haosen Marine had previously sought an indemnity, payment of damages, costs and any other relief that the court deems fit arising from an accident that occurred during a ship launching operation at a work site, Tiong Woon said in a statement late on Thursday. 1158 (0358 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:27 STOCK NEWS SINGAPORE-OCBC downgrades TEE to hold OCBC Investment Research downgraded Singapore engineering and property firm TEE International Ltd to hold from buy and cut its target price to S$0.28 from S$0.36. TEE shares were down 4.2 percent at S$0.23, having fallen around 2 percent so far this year. A chunk of TEE's 2012 fiscal year revenue was brought forward to the fourth quarter of 2011, hurting the company's financial performance year-to-date, OCBC said. It said TEE was unlikely to meet consensus revenue estimates for 2012. Last week, TEE said its independent and non-executive chairman, Bertie Cheng Shao Shiong, and its group chief executive and managing director, Phua Chian Kin, were being investigated by Singapore's Commercial Affairs Department on "possible contravention of market rigging provisions". "Although TEE reassured investors that its business operations are not affected by the CAD investigations, the investigations will likely cause some downward pressure to TEE's share price in the near term," OCBC said. For related company statements, click: link.reuters.com/kuk57s link.reuters.com/muk57s 1120 (0320 GMT) (Reporting by Leonard How and Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:48 STOCK NEWS SINGAPORE-UOB Kay Hian raises target on StarHub UOB Kay Hian increased its price target on Singapore's second biggest telecom firm StarHub Ltd to S$3.25 from S$3.09 and maintained its hold rating. StarHub shares were up 1 percent at S$3.16, having risen 8.6 percent so far this year and underperforming the broader index. The brokerage tweaked its revenue forecasts based on an anticipated faster pace of growth for fixed network services. It expects revenue to grow 20.9 percent for 2013 versus a previous estimate of 14 percent and 19.1 percent for 2014 versus a previous estimate of 13.6 percent, assuming StarHub secures 15 percent of the market outside Singapore's central business district within two years. UOB also said StarHub offered an attractive dividend yield of 6.4 percent. 1047 (0247 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 9:49 STOCKS NEWS SINGAPORE-TT International jumps on Lucrum deal Shares of Singapore's TT International Ltd surged more than 30 percent after the company signed a S$200 million ($159 million) agreement with private equity real estate firm Lucrum Capital for a warehouse retail project in the city-state. TT International trades consumer electronics and also provides warehousing and logistics services. TT International shares were up 34 percent at S$0.067 on volume of more than 38 million shares, about 9 times the average full-day volume traded over the past 30 days. The shares have jumped more than 640 percent so far this year. In January, TT International said Lucrum Capital had proposed to invest at least S$200 million in the Big Box project in Jurong, western Singapore. "This project is quite promising because Jurong is being developed as a commercial hub in Singapore. This announcement is positive because they have secured a partner," said Wilson Liew, an analyst at Maybank Kim Eng. For a related company statement, click: link.reuters.com/sek57s 0944 (0144 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 8:47 STOCK NEWS SINGAPORE-Singapore index futures fall Singapore index futures are 0.9 percent lower early on Monday, indicating a weak start for the benchmark Straits Times Index. Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, making investors cautious ahead of more U.S. data and earnings as well as figures from China due this week. 0845 (0045 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2590 Singapore dollars) Link this Share this Digg this Email Reprints

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