SINGAPORE, May 25 (Reuters) - Keppel Corp (KPLM.SI) may be
in focus on Monday after saying it will sell its 45.5 percent
stake in oil refiner Singapore Petroleum Company SPCS.SI to
Asia's largest oil and gas producer PetroChina (0857.HK).
U.S. stocks fell for a fourth day on Friday on persistent
worries about the U.S. budget deficit, with U.S. Treasuries and
the dollar losing ground. ----------------------MARKET SNAPSHOT
@ 2359 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 887 -0.15% -1.330
USD/JPY JPY= 94.54 -0.26% -0.250
10-YR US TSY YLD US10YT=RR 3.4495 -- 0.000
SPOT GOLD XAU= 956.95 0.12% 1.100
US CRUDE CLc1 62 0.54% 0.330
DOW JONES .DJI 8277.32 -0.18% -14.81
ASIA ADRS .BKAS 107.12 0.56% 0.60
-------------------------------------------------------------
> Wall St slips late as budget worries linger [.N] > US
dollar drops to 2009 low on rating worries [USD/] > Selloff
persists on debt worries before supply [US/] > Gold rises
above $960 as dollar wilts [GOL/] > Oil rises on China
demand, dollar [O/R]
Stocks and factors to watch:
-- KEPPEL CORP (KPLM.SI)
- Asia's largest oil and gas producer PetroChina (0857.HK)
is buying Keppel Corp's 45.5 percent stake in Singapore
Petroleum Company (SPC) for S$1.47 billion ($1.02 billion) and
plans to make a general offer to buy the rest of the firm.
[ID:nSIN335305]
-- SEMBCORP INDUSTRIES (SCIL.SI)
- Nomura raised its price target on SembCorp Industries on
Monday to S$3.65 from S$2.65, noting that with planned
expansion at Singapore, UK and China utilities facilities, it
believes the industrial group's earnings will rebound next
year. The research house maintained its "buy" rating.
-- ROTARY ENGINEERING (ROTE.SI)
- CIMB upgraded oil and gas infrastructure services firm
Rotary Engineering on Friday to "outperform" from "neutral",
citing a 37 percent upside potential and expectations of a
pick-up in its order momentum.
-- JURONG AROMATICS CORP
- Jurong Aromatics Corp has delayed the start-up of its
$2.4 billion aromatics project in Singapore until early 2013
from 2011, as it struggles to obtain funding in the current
credit crunch, which may have implications for others in its
sector or energy service firms. [ID:nSP477329]
- Singapore's benchmark Straits Times Index .FTSTI gained
1.55 percent to 2,245.27 points on Friday.
- The Dow Jones Industrial Average .DJI dropped 0.18
percent to 8,277.32 points. The Nasdaq Composite Index .IXIC
was down by 0.19 percent to 1,692.01 points.
(Reporting by Eveline Danubrata; Editing by Neil
Chatterjee)
