Singapore Hot Stocks - DBS, other banks, property in focus

SINGAPORE, Nov 7 (Reuters) - DBS Group (DBSM.SI) may in
focus on Friday after it reported its third quarter net profit
fell a larger-than-expected 38 percent due to the turmoil in
financial markets.

The banking and property sectors may face selling pressure
after auditors for Las Vegas Sands (LVS.N), which is building a
multi-billion casino in Singapore, said there were doubts about
the firm's ability to continue as a going concern.
[ID:nN06321876]

U.S. stocks sold off on Thursday in the worst two-day slide
since October 1987 with disappointing corporate outlooks and
bleak sales from major retailers fueling fears of a deepening
economic downturn. ----------------------MARKET SNAPSHOT @ 2323
GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 904.88 -5.03% -47.890
USD/JPY JPY= 97.31 -0.38% -0.370
10-YR US TSY YLD US10YT=RR 3.6942 -- 0.000
SPOT GOLD XAU= 732.45 -0.07% -0.500
US CRUDE CLc1 60.85 0.13% 0.080
DOW JONES .DJI 8695.79 -4.85% -443.48
ASIA ADRS .BKAS 88.74 -9.93% -9.78
-------------------------------------------------------------
>Wall St sinks on retail sales, Disney drops late
[.N] >Euro slides as ECB rate cut disappoints market
[USD/] >Treasuries rise as stock losses spurs safety bid
[US/] >Gold turns lower as recession fears prompt selling
[GOL/] >Oil falls 7 percent on recession concerns

[O/R]

Stocks and factors to watch:

-- DBS Group Holdings

- DBS Group posted a 38 percent drop in quarterly profit,
below market expectations, to S$379 million as losses from bad
debts mounted amid a global financial market turmoil.
[ID:nSGC000902]

The losses included a S$70 million charge for compensation
to certain customers who bought Lehman-exposed investments
which was offset by a gain of S$74 million resulting from the
reclassification of certain trading assets as
available-for-sale investment securities in line with recent
amendments to accounting standards.

-- Singapore Airlines

- Citigroup on Friday kept its "sell" recommendation on
Singapore Airlines (SIAL.SI) and cut the target price to S$9.00
from S$13.00 as it expects the airline's revenue to be weaker
than earlier predicted.

-- ST Engineering

Australian investment bank Macquarie has lowered its target
price for aircraft maintenance and defence firm Singapore
Technologies Engineering (STEG.SI) to S$3.00 from S$3.80 due to
weakness in the U.S. and Chinese aviation markets as well as a
slowdown in spending on large capital projects.

- Singapore's benchmark Straits Times Index .FTSTI fell
2.66 percent to 1,819.20 points on Thursday.

- The Dow Jones Industrial Average .DJI fell 4.85 percent
to 8,695.79 points and the Nasdaq Composite Index .IXIC
plunged 4.34 percent to 1,608.70 points.

(Reporting by Kevin Lim; Editing by Kazunori Takada)