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- Feb 3: SIA, StarHub, Global Logistic, Keppel
- Indonesia says buyback of SingTel Telkomsel stake a no go
- GMG jumps; broker highlights underperformance
- StarHub posts 15% rise in 4Q net profit to $92.6m
- Noble said to approach banks for about $2.51b loan facility
- Ying Li soars on bullish DBS Vickers report
- Las Vegas Sands profit rises on Asia; US$1 dividend approved
- Feb 1: SMRT, SIA Engineering, Chip Eng Seng
- Citi ups SembCorp Marine price target
- Credit Suisse ups Indofood Agri target price
- NOL jumps on hopes of higher freight rates
The Daily Edge
STI increases 0.6% to 2,917.95 at closing
Straits Times Index increased 0.6% to 2,917.95 at closing, and was little changed for the week. More than three shares advanced for each that fell in the 30-member gauge.
SMX to launch pepper futures on Feb. 10
The Singapore Mercantile Exchange will launch the world’s first international black pepper futures contract on Feb. 10, the exchange said on Friday, reported Reuters. SMX, owned by India’s Financial Technologies (FITE.NS), is introducing more products to boost liquidity in its commodity and currency contracts since it launched in August 2010.
STI up 0.6%, or 18.28 points, at 2,919.32 at midday
Singapore shares rose by midday Friday, outperforming other Asian bourses, as gains in blue chips such as Oversea-Chinese Banking Corp and casino operator Genting Singapore PLC helped to lift the benchmark index. Traders said the Straits Times Index was playing catch up with other Asian equities as it fell slightly in the previous session despite strong gains in other regional bourses.
Citi ups SembCorp Marine price target
Citigroup raised its price target on Singapore rig builder SembCorp Marine to $5.90 from $4.76 and kept its buy rating. By 11:20 a.m., SembCorp Marine’s shares were down 0.6% at $4.86.
Ying Li soars on bullish DBS Vickers report
Shares of Singapore-listed Chinese property developer Ying Li International Real Estate surged as much as 12% to a six-month high after stockbroker DBS Vickers issued a bullish report on the firm, reported Reuters. By 10:41 a.m. on Friday, Ying Li shares were 9.2% higher at $0.355 with 44.4 million shares traded. This was 4.3 times its average daily volume over the last five sessions.
Blog Heads
Manu Bhaskaran: What the eurozone crisis could do to Asia
MARKETS CONTINUE TO rise across the world as investors increasingly feel that the eurozone will avoid the worst. So convinced are markets about this positive outcome that they have withstood the actual news out of Europe, which has been mixed, at best. Since investors are not entirely irrational,...
Assif Shameen: From Tommy Hilfiger to Michael Kors: The rise and rise of Silas Chou
IN LATE NOVEMBER, US designer Michael Kors threw a big party for the opening of his first namesake boutique in Singapore at the newly opened Scotts Square. Just days later, Kors, who founded the luxury sportswear, accessories and apparel firm, was performing the opening bell ritual from the narrow marble...
Sunita Sue Leng: Embracing volatility in Year of the Dragon
THE DRAGON IS generally believed to be the most auspicious of the Chinese zodiac animals. However, the dragon that has just made a splashing debut this Lunar New Year amid torrential rain “is not an auspicious dragon”, warns geomancer Wilfred Leu. “I call it a black dragon, not a...
Daryl Guppy: Shanghai rally is weak
THE CHINA MARKET was closed all week for Spring Festival and this provides an opportunity to put the rally of the last trading day of the previous lunar year in perspective. It provides some guidance to how the Year of the Dragon may develop and comes in three parts:
Weekend Comment Jan 27: Unifiber’s second makeover into coal miner
UNITED FIBER SYSTEM may soon morph from a pulp producer into a thermal coal miner through a second RTO (reverse takeover offer), giving shareholders another chance to unlock value in the stock which has been languishing since its first backdoor listing.
