Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Shares edge higher, SIA leads gainers

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STOCKS NEWS SINGAPORE-Shares edge higher, SIA leads gainers Sep 19th 2012, 04:57 Wed Sep 19, 2012 12:57am EDT Singapore shares edged higher at midday, in tandem with other Asian bourses, boosted by the Bank of Japan's move to ease monetary policy by topping up its asset-buying and loan programme. Singapore Airlines was the largest gainer on the Straits Times Index (STI), rising 1.8 percent to S$10.76, as oil prices fell for the third straight day and the once-bankrupt Japan Airlines made a strong trading debut, boosting sentiment in the sector. By midday, the STI was up 0.3 percent at 3,076.30 points, and the MSCI Asia Pacific ex-Japan was up 0.6 percent, rebounding from the morning's losses. Shares of Thai Beverage PCL jumped as much as 21.7 percent to a record after the brewer agreed to support the sale of Fraser and Neave Ltd's stake in Asia Pacific Breweries to rival Heineken NV. ThaiBev shares were up 17.4 percent at S$0.405, with over 139.2 million shares traded, making it the second-most traded stock by value. Property developer Overseas Union Enterprise gained 8.4 percent to S$2.84 after a newspaper report said it was planning to sell a hotel and retail asset in the city-state. It has requested for a trading halt pending the announcement. 1245 (0445 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 11:59 STOCKS NEWS SINGAPORE-OCBC ups Cache Logistics' target price OCBC Investment Research raised its target price for Cache Logistics Trust to S$1.26 from S$1.18, citing strong demand for its warehouse assets. At 0347 GMT, units of Cache were up 0.4 percent at S$1.18, and have surged about 24 percent since the start of the year, compared to the FT ST Real Estate Investment Trust Index's nearly 28 percent rise. Cache owns eight warehouses with ramp-up features, which is limited in Singapore and expected to see robust demand, OCBC said. The trust also has strong and stable income streams, having seen 100 percent occupancy rate for its portfolio since it listed in April 2010 and a master lease structure that provides high net property income margins, the brokerage said. Cache's acquisition of Pandan Logistics Hub in Singapore will increase its rental income and distribution per unit starting from the second half of the year. 1150 (0350 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 9:08 STOCKS NEWS SINGAPORE-DMG upgrades Epicentre to 'buy' DMG & Partners upgraded Epicentre Holdings Ltd, which sells Apple products, to 'buy' from 'neutral', and raised its target price to S$0.41 from S$0.31, on expectations of an earnings improvement in the next quarter. By 0101 GMT, Epicentre shares were untraded at S$0.355, and have fallen 21 percent so far this year, compared to the FTSE International ST Catalist Index's 10 percent rise. Despite competition from Apple's online store, premium retailers like Epicentre will continue to see sales grow due to better deals such as extended warranties and discounts on associated hardware. "Earnings are expected to be driven by new Apple branded products and ramp up in sales of new stores," DMG said in a report. The brokerage expects Epicentre's net margins to improve to 1.6 percent for the year ending June 2013 and 1.9 percent in 2014, compared to 0.3 percent in 2012. 0900 (0100 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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