SGX STOCKS NEWS : Index down, Olam trades rise up

Its continuation for Singapore shares, that were down. Bailout plan that report that Cyprus fell into disarray, but Olam LTD grow up to 4th month high.

The Straits Times Index was below 0.2 % at 3,261.38 . while 0.3 % gained by MSCI's broadest index.

The highest fall of more then 1% notice on Singapore Press Holdings and Singapore Telecommunications Ltd .

For Olam, it rise up 2.6 % to S$1.76 with 13 million shares traded. It had grown up as much as 22 percent after Muddy Waters criticised its accounting practices, high debt levels & investment projects in late November.

Beside this Market balanced up after SGX state investor Temasek Holdings supported Olam's rights issue and raised its stake to become the company's biggest shareholder.

In last month, Olam notice a 20% up in 2nd Quarter net profit & informed that it iwl recheck its business priorities and free cash flow targets. The next announcement will come on 2nd half of April.

"The strategic review has partly boosted investors' confidence, but investors are adopting a wait-and-see attitude towards Olam to see if it can generate enough cashflow from the investments," a trader said.

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SE Asia Stocks-Mostly up: SGX may boost soon

Southeast Asian SGX stocks were mostly higher on Friday, with Indonesia snapping three sessions of losses after the new central bank governor's view of low interest rates, and Thailand nearly touching the 1,600 mark on progress of infrastructure investment. Jakarta's Composite Index finished up 0.7 percent at 4,819.32, trimming its loss on the week to 1.1 percent. 

It rallied almost 10 percent over the past six weeks, setting a record close of 4,874.50 on March 8. Thai SET index rose for the third session, ending up 0.7 percent at a 19-year closing high of 1,598.13. It gained almost 2 percent on the week, Southeast Asia's second best performer. Vietnam led the region with a weekly gain of 2.3 percent. Thai government's progress on plans for huge infrastructure investment has bolstered demand, with the cabinet set to meet next week to discuss 2 trillion baht ($67.5 billion) in spending. 

Bucking the trend, Kuala Lumpur's Composite Index lost almost 1 percent to 1,627.64, the lowest close in more than two weeks. The Philippines eased 0.6 percent, extending losses for a fifth session, to 6,654.60. Across the region, investors bought stocks with good earnings and yielding good dividends. In the Philippines, conglomerate Alliance Global Group Inc jumped 2.5 percent after it reported strong 2012 earnings. Among bright spots, Thailand's SkyTrain operator BTS Group Holdings Pcl jumped 3.4 percent following its plan to raise up to $2.1 billion by listing an infrastructure fund. 

 For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 445.08 443.68 +0.32 Singapore 3286.05 3279.50 +0.20 Kuala Lumpur 1627.64 1640.74 -0.80 Bangkok 1598.13 1586.79 +0.71 Jakarta 4819.32 4786.37 +0.69 Manila 6654.60 6694.71 -0.60 Ho Chi Minh 481.35 474.60 +1.42 Change on year Market Current End prev yr Pct Move TR SE Asia Index* 445.08 424.10 +4.95 Singapore 3286.05 3167.08 +3.76 Kuala Lumpur 1627.64 1688.95 -3.63 Bangkok 1598.13 1391.93 +14.81 Jakarta 4819.32 4316.69 +11.64 Manila 6654.60 5812.73 +14.48 Ho Chi Minh 481.35 413.73 +16.34 *

 The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 607,103,500 272,313,503 Kuala Lumpur 280,042,600 152,583,073 Bangkok 21,579,407 14,729,302 Jakarta 5,846,524,500 5,925,361,633 Manila 134,003 130,316 Ho Chi Minh 74,398 70,383

SGX Stock News...Index gets 5 week high

On Tuesday, Sgx stock rise-up to its highest value with compare to last five weeks. The some wall street's value close as boosting dare in US economy that underpinned investor risk appetite.

 

The situation of Straits Times Index was up 0.6 % at 3314.9 On other-side MSCI's broadest index from Asia-Pacific, shares outside Japan was static.

Equity of SingXpress Land Ltd come up to S$0.022 in 11 months, as property and financial services company explore plans to increase S$226.5 million ($181.30 million) for its venture into the U.S. property market.

Equities rose up 29.5 % by 281M shares traded with 6.2 times of average full day volume in last 1 month.

 

Neil Bush will be appoint as chairman of the company in SingXpress. He is brother of former U.S. president George W Bush.

 

"The appointment of Neil Bush is quite reassuring to the investors," a trader said, adding the announcement was a "game changer" for SingXpress.