SINGAPORE, May 8 (Reuters) - DBS Group (DBSM.SI), Southeast
Asia's biggest bank, may be in focus on Friday after it posted
a smaller-than-expected 28 percent drop in quarterly profit.
Wall Street stocks slid on Thursday as investors took
profits from the technology sector's recent surge, while
analyst downgrades hurt telecoms and a tepid response to a
government bond auction raised fears about public finances.
----------------------MARKET SNAPSHOT @ 0023 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 907.39 -1.32% -12.140
USD/JPY JPY= 99.34 0.08% 0.080
10-YR US TSY YLD US10YT=RR 3.3303 -- -0.009
SPOT GOLD XAU= 913.4 0.48% 4.350
US CRUDE CLc1 56.96 0.44% 0.250
DOW JONES .DJI 8409.85 -1.20% -102.43
ASIA ADRS .BKAS 106.48 -2.21% -2.41
------------------------------------------------------------- >
Tech, poor auction hits Wall St; banks up late [.N] >
Dollar, yen slip after US stress tests, ECB meeting [USD/] >
Bonds hold earlier loss after bank test results [US/] >
Gold rises on inflation worries, weak dollar [GOL/] >
Oil closes at six-month high on economic optimism [O/R]
Stocks and factors to watch:
-- DBS GROUP (DBSM.SI)
- Southeast Asia's biggest bank posted on Friday a
smaller-than-expected 28 percent drop in quarterly profit to
S$433 million ($294 million), as strong loan growth and trading
gains partially offset a near tripling in bad debt charges.
[ID:nSGC001127]
-- COSCO CORPORATION (COSC.SI)
- Singapore-listed shipbuilder COSCO Corporation said on
Thursday a European customer had cancelled the order of one out
of four vessels, while the delivery dates for two others have
been delayed. It reported that first quarter net profit fell 60
percent to S$33.2 million ($22.57 million). [ID:nSGC001126]
-- STARHUB LTD (STAR.SI)
- Starhub reported on Thursday a 3 percent increase in net
profit to S$82.5 million ($56.08 million) from a year ago,
mainly on tax gains and higher revenue from its fixed network
and pay-TV businesses. [ID:nSN5780501]
-- WING TAI HOLDINGS (WTHS.SI)
- Wing Tai reported on Thursday a 23 percent drop in third
quarter net profit to S$21.4 million ($14.55 million) from a
year ago.
-- ASIA PACIFIC BREWERIES (APBB.SI)
- Asia Pacific Breweries reported on Thursday a 5.8
percent increase in net profit for its second quarter ended
March 31 to S$46.2 million ($31.41 million) from a year ago,
including exceptional items. [ID:nSN5781161]
- Singapore's benchmark Straits Times Index .FTSTI rose
2.87 percent to 2,241.60 points on Thursday.
- The Dow Jones Industrial Average .DJI fell 1.20 percent
to 8,409.85 points. The Nasdaq Composite Index .IXIC was down
by 2.44 percent to 1,716.24 points.
(Reporting by Eveline Danubrata; Editing by Neil
Chatterjee)
