Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Shares up in third straight session

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 up in third straight session Aug 1st 2012, 05:22 Wed Aug 1, 2012 1:22am EDT Singapore shares reversed its earlier losses by midday to extend gains for the third straight session, led by Chinese developer Hongkong Land Holdings Ltd. The benchmark Straits Times Index gained 0.2 percent to 3,042.54 points by midday. Hongkong Land was the largest gainer, surging 5.7 percent to $6.34 and tracking the broader gains in China shares, boosted by hopes of policy easing. Expectations of more policy fine-tuning in the second half to support economic growth also underpinned gains, after Premier Wen Jiabao was reported on Tuesday by official media to have reiterated Beijing's intention to stabilize growth. Dividend play SIA Engineering Co Ltd also rose 3.7 percent to S$4.23, while Global Logistic Properties, which owns warehouses in Japan and China, gained 1.8 percent at S$2.29. 1315 (0515 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 9:58 STOCKS NEWS SINGAPORE-Strong loan growth, banks to benefit Singapore's bank lending rose 1.7 percent in June from May, showing strong growth momentum as loans were driven by manufacturing, general commerce and housing sectors, said Barclays. "We believe the Singapore banks are well on track to meet their low double-digit loan growth targets, taking advantage of their strong funding base enabling them to win regional loan market share," said Barclays. The brokerage said it prefers United Overseas Bank Ltd and Oversea-Chinese Banking Corp, which it has 'overweight' ratings on, over DBS Group Holdings Ltd , on which it has an 'equal weight' rating. By 0132 GMT, shares of UOB were down 1 percent, OCBC was 0.9 percent lower and DBS lost 0.7 percent. UOB outperformed its two rivals so far this year, rising 29.8 percent, compared to OCBC's 20 percent rise and DBS's 27 percent gains. The benchmark Straits Times Index rose 14 percent in the same period. Barclays is positive on Singapore's banks relative to its regional peers due to their strong liquidity position, proven risk management track record and as they are among the best capitalised in Asia ex-Japan, said Barclays. To read a story, click 0932 (0132 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) 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