Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC downgrades Yangzijiang to hold

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STOCKS NEWS SINGAPORE-OCBC downgrades Yangzijiang to hold Apr 27th 2012, 07:09 Fri Apr 27, 2012 3:09am EDT OCBC Investment Research downgraded its rating on Yangzijiang Shipbuilding (Holdings) Ltd to hold from buy and lowered its price target to S$1.23 from S$1.51. Yangzijiang shares were up 0.9 percent at S$1.19 and have gained more than 30 percent so far this year. OCBC said about 70 percent of its new order estimate of $2.5 billion for Yangzijiang's 2012 fiscal year depends largely on the 18 orders from Seaspan Corp, resulting in a higher concentration risk. "Though the share price may see a positive knee-jerk reaction when the orders turn effective, we believe that the risk-reward ratio is currently biased against investors, unless the general shipbuilding market turns for the better," OCBC said. Newbuild prices are still trending lower, OCBC said, adding that though Yangzijiang is diversifying into the offshore industry, it still has to traverse a learning curve before there can be a contribution to earnings. 1456 (0656 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 12:39 STOCKS NEWS SINGAPORE-Up by midday, lifted by DBS Singapore shares rose by midday on Friday, largely in line with regional bourses, with Southeast Asia's largest bank DBS Group Holdings among the biggest gainers after posting first-quarter earnings that beat estimates. The Straits Times Index was up 0.4 percent at 2,993.31, looking set to end the week little changed. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent, tracking U.S. stocks that rallied on strong housing data and corporate earnings in the world's largest economy. DBS shares gained as much as 2.1 percent to a month-high after posting a record quarterly profit that topped analysts' expectations due to higher loan margins and trading income. The stock ************************************************************ 09:46 STOCKS NEWS SINGAPORE-Phillip ups target on CDL Hospitality Phillip Securities Research raised its price target on CDL Hospitality Trusts, which invests in hospitality-related assets, to S$2.00 from S$1.91 and maintained its accumulate rating. CDL units were up 0.5 percent at S$1.865, having gained 21 percent so far this year. Phillip said it believes CDL's high revenue per available room will continue to gain traction in subsequent quarters, with new tourist attractions such as Garden by the Bay, the River Safari and the Marine Park opening in Singapore this year. Phillip revised up its visitor arrival forecasts to 6 percent in 2012, versus 2 percent previously, and 8 percent in 2013 from 6 percent. It raised its 2014-2016 distribution per unit estimates for CDL by 5.6-6 percent. 0930 (0130 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com; Editing by Chris Gallagher) ************************************************************ STOCKS NEWS SINGAPORE-Index futures rise 0.4 pct Singapore index futures rose 0.4 percent early on Friday, indicating a higher start for the benchmark Straits Times Index. Asian shares inched up on Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating. 0833 (0033 GMT) Link this Share this Digg this Email Reprints

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