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:
-- HYFLUX WATER TRUST (HYFL.SI)
- 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 CORPORATION (SPRS.SI)
- 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]
--JADE TECHNOLOGIES (JADE.SI)
- 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]
-- LINDETEVES-JACOBERG (LIJO.SI)
- 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)
