Singapore Hot Stocks-CapitaLand in focus after profit slide
SINGAPORE, August 1 (Reuters) – CapitaLand <CATL.SI> may be
in focus on Friday after it posted a 43.5 percent fall in
quarterly net profit hit by lower property sales and the absence
of one-off gains.
U.S. stocks fell on Thursday, led by
Exxon Mobil after its
earnings fell short of Wall Street’s expectations and as
disappointing economic data revived fears of a U.S. recession.
———————-MARKET SNAPSHOT @ 0023 GMT ————
INSTRUMENT LAST
PCT CHG NET CHG
S&P 500 <.SPX> 1267.38 -1.31
USD/JPY <JPY=> 107.71 -0.11
10-YR US TSY YLD <US10YT=RR> 3.9657 – 0.008
SPOT GOLD <XAU=> 911.75
-0.12
US CRUDE <CLc1> 124.04 -0.03
DOW JONES <.DJI> 11378.02 -1.78
ASIA ADRS <.BKAS> 143.33 -1.98
———————————————–
————–
> US STOCKS-Dow, S&P fall on Exxon, weak economic data [.N]
> FOREX-Dollar eases on weak U.S. data, payrolls in focus [USD/]
> TREASURIES-US bonds rise on soft growth,
slipping jobs [US/]
> Gold ends higher on inflation signs, weak dollar [GOL/]
> Oil drops 2 pct, caps biggest monthly loss since ‘04 [O/R]
Stocks and factors to watch:
–CapitaLand <CATL.SI>
- CapitaLand,
Southeast Asia’s biggest property developer by
market value, posted a 43.5 percent fall in quarterly net profit
hit by lower property sales and the absence of one-off gains. It
earned S$515.2 million ($377 million) in the April-June period,
down from
S$912.6 million a year ago. [ID:nSIN319200]
–Parkway Holdings <PARM.SI>
- Singapore healthcare firm Parkway Holdings said it has
taken an S$850 million ($622 million) syndicated loan to build a
new hospital in Singapore. [ID:nSIN341360]
–Keppel Corp <KPLM.SI>
- Keppel Corp, the world’s largest offshore oil rig builder,
posted a 16 percent rise in quarterly net profit and said the
outlook for rigs and infrastructure remained robust. Keppel
earned S$299.3 million ($219
million) in the April-June period,
up from S$258.4 million a year ago. Revenue rose 7.7 percent to
S$2.64 billion. [ID:nSIN53105]
–Wilmar International <WLIL.SI>
- Goldman Sachs raised its target price for palmoil trader
Wilmar
International to S$6.20 from S$6 to reflect higher crude
palm oil refining margins, and kept its “buy” rating.
[ID:nSGC002172]
–Hongkong Land <HKLD.SI>
- Hong Kong property developer Hongkong Land posted a 36
percent jump in net profit
for the six months ended June 2008 to
$1.63 billion from $1.2 billion a year ago, but said property
markets are slowing and inflationary pressures are building in
key sectors. [ID:nSN7V40771]
- JPMorgan cut its investment rating for Hongkong Land
to
”neutral” from “overweight”, citing potential declines in office
rentals of as much as 20 percent. It has a target price of $4.40
for the stock. [ID:nSGC002171]
–Yanlord Land <YNLG.SI>
- Chinese developer Yanlord Land said it has
bought two prime
residential development sites in Shanghai, China for 1.19 billion
yuan ($174.2 million) in a public land auction. [ID:nSN7V91771]
- Singapore’s benchmark Straits Times Index <.FTSTI> rose
0.14 percent to 2,929.65 points
on Monday.
- The Dow Jones Industrial Average <.DJI> fell 1.78 percent
to 11,378.02 points and the Nasdaq Composite Index <.IXIC>
dropped 0.18 percent to 2,325.55 points.
