Singapore Stock Live Updates

DBS may post 5 pct fall in Q1 profit-poll

DBS Group, Southeast Asia's largest bank, is expected to report a 5 percent drop in first quarter net profit before the market opens on Friday, hurt by lower interest margins and a decline in fee income. DBS will kick off the earnings reporting of Singapore's banks, including Oversea-Chinese Banking Corp OCBC.SI and United Overseas Bank Ltd UOBH.SI.

DBS will report net earnings of S$764 million ($614 million) for the three months ended in March, according to the average estimate of five analysts polled by Reuters. That would be lower than its earnings of S$807 million a year earlier.

DBS shares were down 0.4 percent at S$13.65 on Thursday - 3.7 percent lower than before the Danamon deal was announced. But the shares have gained about 18 percent since the start of the year.

CIMB cuts Sheng Siong to neutral

CIMB Research downgraded supermarket chain operator Sheng Siong Group Ltd to neutral from  outperform and cut its target price to S$0.49 from S$0.51, citing intense competition that could further hurt its profits. Sheng Siong's shares were down 1 percent at S$0.48, but have gained 9 percent so far this year, underperforming the FT ST Small Caps Index's 16 percent rise.

Sheng Siong reported a 74 percent rise in quarterly net profit to S$16.8 million, but CIMB said its core  earnings per share was below its expectations, due to lower-than-expected gross margins. CIMB cut its 2012-2014 earnings per share estimates for Sheng Siong by 3-8 percent and said the company's cost savings from bulk handling and higher-margin fresh foods were eroded by higher promotions and discounts.

Click To Get all SGX Stock Prices, Stock Calls on Mobile Phone, FREE. We daily provide live stock picks for Singapore Stock Market. 

Singapore Daily Stock Picks, Live Stock Picks

Stock SGX Today

Singapore equities opens mixed in the 1 trading day of the week @ 2973.45 and most of the Asian markets were in red in the opening.

Singapore shares open and try to recovers last week's losses but it can't able to sustains in upward direction and faced Resistance @ 2983.51 and then in the second half market fell badly due to rising oil prices raised concerns over global economic growth, weighing on how investors feel about the region's emerging markets.

STI breached its 2950 levels today and made a day low of 2946.78 and finally closed  @ day's lower level with loss of 31.30 points down by 1.05%. Volume was 1.72 billion shares worth $1.24 billion.

Stocks SGX Tomorrow

Singapore Market fell badly in line with several Asian bourses, as investors stayed cautious on concerns that persistently high oil prices could curtail the world's fragile economic growth.

STI breached its 2950 levels and close d also below this level @ 2946.79 , now it's a matter to take cautious approach as we previously mention in our report that below 2950 levels STI can go further down side.

For the coming days, investors have to follow a cautious approach in markets as market was at high levels so some profit taking is possible from higher levels.

STI Support

STI having nearest support @ 2920 and below this level it can take support @ 2900 levels and 2890 is the major support level.

STI Support

STI having Resistance @ 2955 and above this level it may take resistance from 2975-2995 levels.

Fill Form or Click Here to Get All SGX Stock Singapore Picks, Forex Trading Tips,  Stock Picks, Free Stock Picks.

Live Singapore Business News

53.54% of SMB United shareholders accept Osaki's offer

The shareholders of SMB United Limited who have accepted the voluntary cash offer by Osaki Electric Co Ltd can expect to receive payment within 10 days. Osaki Electric said on Friday that it has received 53.54 per cent acceptance for its offer. Accordingly, the offer has become unconditional as to acceptance. The offer will remain open for acceptance until February 27, 2012 at 5.30pm.

Strait Times Index Slightly down

Singapore shares edged lower by mid-day after rising for four straight sessions, with commodities firm Olam International and rig builder Sembcorp Marine shedding more than 1 percent each. Among stand-out gainers, shares of Singapore-listed forestry firm United Fiber System Ltd surged as much as 71 percent after it struck a S$1.5 billion reverse takeover deal with Indonesian coal miner PT Golden Energy Mines Tbk. By 0530 GMT, the Straits Times Index was down 0.1 percent, or 3.21 points, at 2,891.22. The index has advanced around 9 percent so far this year, making it the best performer among major Southeast Asian markets.

Get all Singapore Business Updates, Free STI picks, Intraday Stock Picks Singapore. For all Intraday Stock Tips Click Here