February 23, 2009 / 12:51 AM / 10 years ago

Singapore Hot Stocks-DBS, UOB in focus

 SINGAPORE, Feb 23 (Reuters) - Financial stocks such as DBS (DBSM.SI) and UOB UOBM.SI may be in focus on Monday after Wall Street slid on rumours that Citigroup (C.N) and Bank of America (BAC.N) were candidates for nationalisation.
 U.S. stocks tumbled on Friday, with the Dow industrials .DJI ending at a 6-1/2-year low, on fears the government may be forced to nationalize some big banks. ----------------------MARKET SNAPSHOT @ 0029 GMT ------------
                 INSTRUMENT   LAST       PCT CHG   NET CHG S&P 500             .SPX       770.05      -1.14%    -8.890 USD/JPY             JPY=       93.13       -0.36%    -0.340 10-YR US TSY YLD    US10YT=RR  2.7752          --    -0.022 SPOT GOLD           XAU=       992.3       -0.50%    -5.000 US CRUDE            CLc1       39.83       -0.50%    -0.200 DOW JONES           .DJI       7365.67     -1.34%   -100.28 ASIA ADRS           .BKAS      80.55       -1.91%     -1.57 ------------------------------------------------------------- > Wall St skids on bank fears; Citi ends under $2       [.N] > Dollar tumbles amid heightened uncertainty            [USD/] > Prices climb as choosy investors choose safety        [US/] > Gold edges down after topping $1,000 last week        [GOL/] > Crude futures fall below $40, economic worries weigh  [O/R]
 Stocks and factors to watch:
 - Water trust Hyflux reported a profit of S$10.3 million for its full year ended Dec 31, 2008 and a distribution per unit of 2.79 cents for the second half of 2008.[ID:nSN2K70591]
 - Singapore Reinsurance said it expects to incur a loss for its fourth quarter and full year ended Dec 31, 2008, due to underwriting losses and a decline in investment portfolio amid the global economic crisis.[ID:nSN2K30921]
 - Commodity and property conglomerate Jade Technologies said it raised S$1.46 million through selling its entire shareholding in United Pacific Industries Limited and proceeds will go to its working capital. Following the disposal of these shares, the company's net tangible asset will decrease from 0.74 cents to 0.64 cents, while loss per share will widen further from 3.87 cents to 3.99 cents.[ID:nSN2K01351]   
 - Motor and power supply group Lindeteves-Jacoberg said it has been served with a writ of summons from BCW Electric Motor Dalian for allegedly failing to pay S$29 million. The board said it is  seeking legal advice on the matter.[ID:nSN2K90781]
 - Singapore's benchmark Straits Times Index .FTSTI fell 2.11 percent to 1,594.94 points on Friday.
 - The Dow Jones Industrial Average .DJI fell 1.34 percent to 7,365.67 points. The Nasdaq Composite Index .IXIC dipped by 0.11 percent to 1,441.23 points.   (Reporting by Kash Cheong; Editing by Kim Coghill)                                            

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