Singapore Hot Stocks-SingTel in focus on Bharti's bid for MTN

SINGAPORE, May 27 (Reuters) - SingTel, Southeast Asia's
largest telecom firm, may be in focus on Wednesday on concerns
that its 30.4 percent stake in India's Bharti Airtel (BRTI.BO)
may be diluted if the Indian firm merges with South Africa's
MTN (MTNJ.J).

U.S. stocks climbed more than 2 percent on Tuesday as data
showing the biggest monthly jump in consumer confidence in six
years lifted hopes of an economic rebound, and a brokerage
upgrade of Apple Inc drove sharp gains on the Nasdaq.
----------------------MARKET SNAPSHOT @ 2349 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 910.33 2.63% 23.330
USD/JPY JPY= 95.26 0.33% 0.310
10-YR US TSY YLD US10YT=RR 3.5467 -- 0.000
SPOT GOLD XAU= 951.35 0.01% 0.100
US CRUDE CLc1 62.68 0.37% 0.230
DOW JONES .DJI 8473.49 2.37% 196.17
ASIA ADRS .BKAS 109.21 1.95% 2.09
-------------------------------------------------------------
> Market jumps as consumer confidence data fuels hopes [.N] >
Dollar up vs yen, profit-taking hits euro [USD/] >
Bonds dive despite good auction as stocks rally [US/] >
Gold drops on dollar rise, ETF holdings gain [GOL/] >
Oil hits 6-month high on consumer confidence, Saudi [O/R]

Stocks and factors to watch:

-- SINGAPORE TELECOMMUNICATIONS (STEL.SI)

- SingTel's stake in India's Bharti Airtel (BRTI.BO) could
change after the Indian company revived merger talks with South
Africa's MTN (MTNJ.J), Singapore's Business Times newspaper
reported, quoting analysts.

It quoted a Citi report that said SingTel could see its
shareholding being cut to 19.4 percent, while Kim Eng Research
estimated it would be 25.6 percent, if the deal succeeds.
SingTel currently holds a 30.4 percent stake in Bharti.

-- SIA ENGINEERING COMPANY (SIAE.SI)

- SIA Engineering Company said on Tuesday that its
management staff would take a wage cut of up to 20 percent with
effect from June 1, in line with measures being taken by the
organisation to reduce costs in response to the current weak
business environment. [ID:nSN5Q80360]

-- MOBILEONE (MONE.SI)

- Telecom equipment maker Nokia Siemens Networks (NSN)
[NSN.UL] said on Tuesday it had won an upgrade order from
Singapore's telecom operator MobileOne to revamp its 2G network
for an undisclosed sum. [ID:nLQ440472]

-- SINGAPORE EXCHANGE (SGXL.SI)

- The Singapore Exchange will launch a fuel oil futures
contract in the second half of this year, the exchange said on
Tuesday, as it attempts to boost the city-state's role as a
regional energy hub. [ID:nSIN484374]

- Singapore's factory output showed a surprise jump in
April as drug production spiked despite weak exports, but
analysts said it was too early to call a recovery given the
volatility of the sector. [ID:nSIN478605]

- Singapore's benchmark Straits Times Index .FTSTI fell
1.26 percent to 2238.79 points on Tuesday.

- The Dow Jones Industrial Average .DJI was up by 2.37
percent to 8473.49 points. The Nasdaq Composite Index .IXIC
also rose 3.45 percent to 1750.43 points.

(Reporting by Candida Ng; Editing by Saeed Azhar)