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Singapore Hot Stocks-Broadway up, earnings recovery seen
February 21, 2012 / 3:30 AM / 6 years ago

Singapore Hot Stocks-Broadway up, earnings recovery seen

SINGAPORE, Feb 21 - Shares of Singapore’s Broadway Industrial Group Ltd, which makes hard disk drive components, surged as much as 11.3 percent on Tuesday as analysts said the firm’s earnings will likely recover this year.

By 11:21 a.m. (0321 GMT), Broadway shares were up 8.8 percent at S$0.435 on volume of 27.4 million shares, 4.2 times the average full-day volume traded in the last 30 days.

“Broadway’s resilient share price suggests that investors may be counting on an earnings recovery in the third quarter of 2012, underpinned by a turnaround of its component business,” CIMB Research Pte Ltd said in a report on Tuesday.

Reporting by Eveline Danubrata; Editing by Kevin Lim

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