Morning Updates of SGX Stock Market, Singapore

>Singapore Shares open Higher:-

• Singapore share prices opened higher on Friday with the STI up 23.95 points to 3,028.52.
• Volume was 357.8 million shares worth S$273.8 million.
• Gainers outnumbered losers 157 to 50.

>SGX boss needs new tricks to boost prospects, Q4 profit seen down:-

• Singapore Exchange Ltd Chief Executive Magnus Bocker is facing a conundrum - how to boost trading volume when global markets are battling a slump.
• Bocker, whose contract was renewed for three years in June, has launched initiatives such as installing the world's fastest trading engine and signing agreements with foreign bourses to enhance liquidity in Asia's second-largest listed bourse by value.
• Few of these measures are close to paying dividends yet and analysts expect SGX to report a nearly 16% fall in April-June profit on Friday, partly hit by a drop in securities-related revenue.

>OCBC raises Osim target price:-

• OCBC Investment Research raised its target price for massage chair maker Osim International Ltd to S$1.82 from S$1.61 and kept its 'buy' rating, citing strong growth and better-than-expected margins.
• By 0234 GMT, shares of Osim were 3.4% higher at S$1.225, and have gained about 6% so far this year, outperforming the FT ST Consumer Goods Index's 17 percent loss.
• Osim's second quarter net profit rose 20.1% to S$22.5 million, higher than OCBC's estimates, due to better-than-expected margins backed by favourable product mix and better productivity.
• It raised its 2012 and 2013 net profit estimates by 3.6 percent and 2.9 percent respectively.

>CIMB, OCBC raise CapitaMalls target price:-

• CIMB Research raised its target price for CapitaMalls Asia Ltd to S$1.47 from S$1.42, citing higher valuations for its listed entities such as CapitaRetail China Trust , but the brokerage kept its 'underperform' rating.
• By 0142 GMT, shares of CapitaMalls were 0.6 percent higher at S$1.62, and have surged 43.4 percent since the start of the year, compared to the Straits Times Index's 14 percent rise
• CapitaMalls reported a 40.7 percent rise in its second quarter net profit to S$232 million, driven mainly by revaluation gains of its Singapore and Malaysia shopping malls, said CIMB.

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