Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Slightly up, Wilmar underperforms

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STOCKS NEWS SINGAPORE-Slightly up, Wilmar underperforms Aug 17th 2012, 05:20 Fri Aug 17, 2012 1:20am EDT Singapore shares were slightly higher, but stocks of palm oil giant Wilmar International Ltd were the biggest loser on the index on continued worries about its outlook after missing earnings estimates for the third straight quarter. The Straits Times Index was up 0.1 percent at 3,066.10 points. MSCI's broadest index of Asia-Pacific shares outside Japan was also up 0.1 percent. Wilmar shares fell as much as 1.6 percent and were among the top 10 traded stocks by value in the Singapore market on Friday. The stock has dropped about 6.5 percent since it reported a worse-than-expected 70 percent fall in second-quarter net profit. DBS Vickers said it has rolled forward its STI target to 3,200 points, based on 13.3 times 2013 fiscal year earnings, adding that there is little to cheer from the second-quarter reporting season that was recently concluded. DBS advised investors to buy stocks that offer attractive yields such as CapitaMall Trust and Singapore Telecommunications, as well as oil and gas companies that are backed by strong order books like Keppel Corp Ltd and Sembcorp Marine. Other stocks DBS likes include budget carrier Tiger Airways Holdings, which it said is a potential turnaround play. 1305 (0505 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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