SINGAPORE, March 19 (Reuters) - Financial stocks are likely
to be the main focus on Thursday after a rally in the U.S.
market following the Federal Reserve's surprise announcement
about its plan to pump another $1 trillion into the ailing U.S.
economy.
The move, which pushed U.S. financial stocks higher on
Wednesday, might help local lenders such as DBS Group
(DBSM.SI), United Overseas Bank (UOBH.SI) and Oversea-Chinese
Banking Corporation (OCBC.SI).
----------------------MARKET SNAPSHOT @ 0038 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 794.35 2.09% 16.230
USD/JPY JPY= 96.42 0.46% 0.440
10-YR US TSY YLD US10YT=RR 2.5845 -- 0.037
SPOT GOLD XAU= 932.95 -0.75% -7.050
US CRUDE CLc1 49.4 2.62% 1.260
DOW JONES .DJI 7486.58 1.23% 90.88
ASIA ADRS .BKAS 87.43 1.96% 1.68
-------------------------------------------------------------
> Wall St jumps as Fed spurs optimism, Oracle up late [.N]
> Euro hits 3-month high vs yen [USD/]
> Rally after Fed says will buy long-term bonds [US/]
> Gold bounces on inflation fear, weak dlr after Fed [GOL/]
> U.S. oil prices near $50 in post-settlement trade [O/R]
Stocks and factors to watch:
-- FRASER AND NEAVE LTD (FRNM.SI)
- Food and property conglomerate Fraser and Neave Ltd
issued S$108.25 million of fixed-rate notes ("Series 9 Notes"),
pursuant to its S$2 billion Multicurrency Medium Term Note
Programme established in May 2007. The notes, guaranteed by the
company, carry an interest rate fixed at 5.5 percent per annum
payable semi-annually in arrears. [ID:nSN3I70870]
-- ESMART HOLDINGS (ESMA.SI)
- Electronics firm Esmart Holdings said it has entered into
a conditional debt restructuring agreement for $2.54 million
that it owes three of its creditors. [ID:nSN3I30931]
- Singapore's benchmark Straits Times Index .FTSTI gained
1.08 percent to 1,575.94 points on Wednesday.
- The Dow Jones Industrial Average .DJI rose 1.23 percent
to 7,486.58 points. The Nasdaq Composite Index .IXIC was up
by 1.99 percent to 1,491.22 points.
($1=1.512 Singapore Dollar)
(Reporting by Kash Cheong; Editing by Muralikumar
Anantharaman)
