Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Shares fall more, down 4 pct this week

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STOCKS NEWS SINGAPORE-Shares fall more, down 4 pct this week May 18th 2012, 06:17 Fri May 18, 2012 2:17am EDT Singapore shares extended their fall on concerns about growing instability in Spanish banks and political turmoil in Greece, with banks, property and commodities stocks in the city-state among the hardest hit. The Straits Times Index dropped as much as 2.1 percent to 2,762.81 points, the lowest since Jan 16. The Singapore bourse has lost more than 4 percent so far this week. Southeast Asia's largest property firm CapitaLand Ltd dipped 4.6 percent. United Overseas Bank lost 2.7 percent, while DBS Group Holdings and Oversea-Chinese Banking Corp shed around 2 percent each. Palm oil firms Wilmar International and Golden Agri-Resources dipped 3.9 percent and 4.5 percent, respectively. "With the return of macro headwinds, we turn our attention towards stocks which have positive earnings dynamics which have not been fully reflected and stocks which we believe have been unfairly sold down," Deutsche said in a report. Deutsche said its top picks included energy, water and marine group Sembcorp Industries Ltd and aircraft ground handling and food services firm SATS Ltd. 1408 (0608 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 12:25 STOCKS NEWS SINGAPORE-CIMB says Singapore REITs attractive CIMB Research said, amid volatile markets, Singapore real estate investment trusts (S-REITs) are compelling due to attractive yield spreads, a stable outlook and defensive property portfolios and debt profiles. CIMB said it prefers office S-REITs due to their relative valuations and a bottoming of the office cycle. Office landlords' bargaining positions have strengthened on sustained strong occupancy, rental stability and leasing take-up. CIMB maintained its overweight rating on the S-REITs sector. Its top picks are Suntec REIT, CapitaCommercial Trust and Frasers Commercial Trust. 1218 (0418 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 09:35 STOCKS NEWS SINGAPORE-Singapore shares drop to 4-mth low Singapore shares fell to a four-month low early on Friday, in line with the regional trend, weighed by concerns about an escalating banking crisis in Spain, political uncertainty in Greece and sluggish economic data from the United States. The Straits Times Index dropped as much as 1.9 percent to around 2,769 points, the lowest since Jan 17. MSCI's broadest index of Asia-Pacific shares outside Japan shed 2.2 percent. The biggest drag on the index were local banks DBS Group Holdings, Oversea-Chinese Banking Corp and United Overseas Bank. Commodities stocks were hit hard. Wilmar International and Golden Agri-Resources fell more than 4 percent each, while Olam International gave up 2.3 percent. 0927 (0127 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:41 STOCKS NEWS SINGAPORE-Index futures down 1.7 pct Singapore index futures fell 1.7 percent early on Friday, indicating a weak start for the benchmark Straits Times Index. Tokyo and Seoul shares are down sharply, weighed by concerns about an escalating banking crisis in Spain and political uncertainty in Greece. 0839 (0039) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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