SINGAPORE, Nov 10 (Reuters) - Singapore Airlines may be in
focus on Monday after Merrill Lynch cut the firm's target price
on a softening global airline sector.
U.S. stocks rose on Friday as bargain hunters scooped up
shares at multi-year lows after a big drop in the October
payrolls was less dire than feared.
----------------------MARKET SNAPSHOT @ 2330 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 930.99 2.89% 26.110
USD/JPY JPY= 99.02 -0.18% -0.180
10-YR US TSY YLD US10YT=RR 3.7967 -- 0.000
SPOT GOLD XAU= 747.45 1.72% 12.650
US CRUDE CLc1 63.15 3.46% 2.120
DOW JONES .DJI 8943.81 2.85% 248.02
ASIA ADRS .BKAS 94.78 6.81% 6.04
-------------------------------------------------------------
>Wall St jumps on bargain hunting in volatile week
[.N] >Dollar retreats vs euro after US jobs gloom
[USD/] >Treasuries-Prices fall as stocks rise, dealers eye
supply [US/] >Gold bounces on weaker US dollar, physical buying
[GOL/] >Oil rises as US jobs data hits dollar
[O/R]
Stocks and factors to watch:
-- Singapore Airlines (SIAL.SI)
- Merrill Lynch has cut its price target for shares of SIA
to S$9.25 from S$13.30 due to a downturn in the global airline
sector.
Merrill also cut SIA's 2009 to 2011 earnings forecast by
one-third as revenue falls faster than fuel costs.
Singapore Airlines said that first and business class
travel within Asia had fallen victim to belt-tightening as a
result of the global economic downturn. [ID:nSIN357250]
- CapitaLand (CATL.SI)
- CapitaLand is understood to be looking to sell four
industrial properties in Singapore worth more than S$300
million, said the Business Times.
-- China Hongxing Sports (CHXS.SI)
- Deutsche Bank has cut its investor rating for China
Hongxing Sports to "hold" from "buy" and lowered its target
price to S$0.24 from S$0.40 citing increased competition in the
sportswear industry in China.
-- Venture Corp (VENM.SI)
- Venture Corp said its third-quarter net profit fell 47.7
percent to S$40.1 million due to a fair value market adjustment
on its derivative financial instruments. [ID:nSGC000909]
- Singapore's benchmark Straits Times Index .FTSTI rose
2.43 percent to 1,863.49 points on Friday.
- The Dow Jones Industrial Average .DJI gained 2.84
percent to 8,943.81 points and the Nasdaq Composite Index
.IXIC closed 2.41 percent higher to 1,647.40 points.
(Reporting by Melanie Lee; Editing by Ben Tan)
