March 1, 2012 / 12:30 AM / 6 years ago

Singapore Stocks-May open lower; Yangzijiang in focus

 SINGAPORE, Mar 1 (Reuters) - Singapore shares may open
lower on Thursday, tracking a fall in U.S. stocks after comments
from U.S. Federal Reserve Chairman Ben Bernanke disappointed
investors hoping for a strong signal on more stimulus.  	
 Singapore-listed Yangzijiang Shipbuilding Holdings Ltd
 may be in focus after announcing its fourth-quarter
net profit rose 24 percent from a year earlier to 1.04 billion
yuan ($165.3 million), helped by higher vessel deliveries and
increased gross profit margin. 	
                                                                               
 ----------------------MARKET SNAPSHOT @ 0010 GMT ------------
                  INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1365.68     -0.47%    -6.500
 USD/JPY                          81.19        0.06%     0.050
 10-YR US TSY YLD                 1.9809          --     0.007
 SPOT GOLD                        1704.51      0.55%     9.270
 US CRUDE                         107.09       0.02%     0.020
 DOW JONES                        12952.07    -0.41%    -53.05
 ASIA ADRS                        130.61      -1.29%     -1.71
 -------------------------------------------------------------                     
 
 	
> Wall St snaps four-day advance after Bernanke remarks  	
> U.S. bonds slip as Bernanke fails to signal stimulus  	
> Euro, Aussie hit by wave of profit taking post ECB   	
> Gold down 5 pct, biggest one-day drop in 3 years     	
> Oil ends Feb higher on upbeat U.S. Fed report         	
      	
 Stocks and factors to watch: 	
 -- INDOFOOD AGRI RESOURCES LTD 	
 - Singapore-listed palm oil firm Indofood Agri Resources
will set aside $200 million to buy palm oil, rubber and sugar
assets outside Indonesia, where it currently has a big presence,
as it looks to diversify future profits, a top official said.
  	
 	
 -- RAFFLES EDUCATION CORP LTD 	
 - Singapore's Raffles Education said on Thursday it had
agreed to sell the land use rights related to four land parcels
and some properties in China's Langfang Development Zone to
Langfang Fenghe International Golf Club Co., Ltd for 1 billion
yuan ($159 million). 	
 	
 -- UNITED OVERSEAS BANK LTD 	
 - Singapore's United Overseas Bank said on Thursday it plans
to issue 2.25 percent fixed rate senior notes with a size of
$500 million due 2017. 	
   UOB, Australia and New Zealand Banking Group Limited,
Credit Suisse (Singapore) Ltd and Nomura Singapore Ltd have been
appointed as joint lead managers and joint bookrunners, while
CIMB Bank (L) Ltd has been appointed as co-manager, for the
Notes.	
 	
 -- LANKOM ELECTRONICS LTD 	
 - Singapore's LANKom Electronics said on Thursday it will
acquire Sinocom Pharmaceutical Inc, a pharmaceutical wholesaler
and distributor in China, for around S$298.4 million ($239.3
million). 	
	
 - Singapore's benchmark Straits Times Index rose
0.82 percent on Wednesday to 2,994.06 points. 	
 - The Dow Jones industrial average lost 0.41 percent
to 12,952.07. The Standard & Poor's 500 Index retreated
0.47 percent to 1,365.68. The Nasdaq Composite Index 
dropped 0.67 percent to 2,966.89. 	
 	
 ASIA-PACIFIC STOCK MARKETS: 	
 Japan             S.Korea       China   	
 Hong Kong        Taiwan        SE Asia 	
 Australia/NZ     India      	
 	
 OTHER MARKETS: 	
 Wall Street       Gold         Currency  	
 Eurostocks       Oil           JP bonds  	
 ADR Report      LME metals  US bonds  	
      	
 STOCKS NEWS US, Europe, Asia: 	
   	
 DIARIES & DATA: 	
 IPO diary & data 	
    U.S. earnings diary 	
   Singapore diary 	
      Eurostocks Week Ahead 	
  Asia earnings diary 	
   European diary 	
 Wall Street Week Ahead 	
 TOP NEWS: 	
   Asian companies       U.S. company
News 	
   European companies    Forex news 	
 Global Economy       Technology 	
 Telecoms            Media news 	
   Banking news           
General/political 	
 Asia Macro 	
 A multimedia version of Reuters Top News is available at: 	
 topnews.session.rservices.com 	
 LIVE PRICES & DATA: 	
 World Stocks        Currency rates  	
 Dow Jones/NASDAQ  Nikkei 	
 FTSE 100 Debt  	
 (Local currency) LME price overview 
($1 = 6.2936 Chinese yuan)
($1 = 1.2470 Singapore dollars)	
	
 (Reporting by Eveline Danubrata; Editing by Richard Pullin)	
 

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