Thursday, October 9, 2008

Market Daily -- 9th Oct 08

30. Singapore Shares End Up On Bargain Hunting, But Fall Expected

29. Infocomm Asia Considering IPO, Seeking Strategic Investors

28. First Ship Lease Trust's cut in 4Q08 DPU guidance, due to higher interest costs, not necessarily bad as it means company will preserve more cash, borrow less, says local house analyst

27. Ferrochina: Ceased China Manufacturing Operations

26. Ferrochina: Discussing Options With Lenders, Strategic Buyer

25. Ferrochina Says Another CNY4.5B In Loans May Also Become Due

24. Ferrochina Says Unable To Pay CNY706M In Loans

23. Several Asian central banks Thursday joined the global effort to shore up investor confidence and economic growth, as Taiwan and South Korea unexpectedly cut interest rates and Japan and others pumped more cash into financial markets

22. Downside For STI Limited; Rebound Imminent - UOB

21. Daiwa downgrades Keppel Corp.to Underperform from Outperform, cuts target price to S$5.31 from S$10.60

20. Bank Of America May Sell Part Of China Bank Stake

19. ASEAN States Confident In Banking, Financial System

18. Credit Suisse Cuts Tat Hong Target To S$2.05

17. Risk Of Fewer S'pore Rig Orders Up As Oil Falls

16. S'pore Property Stks Rebound; May Lack Momentum

15. S'pore MAS Easing Likely To Be More Aggressive-JPM

14. China's move to cut interest rates, ease bank lending not doing much to help SGX-listed China shares. FTSE ST China Top 20 Index down 0.4%, FTSE ST China Index down 0.4%

13. Coordinated interest rate cuts by major central banks unlikely to help stocks much, as capitulation of global equity markets this week highlights speed at which credit crunch spread, says Daiwa

12. Credit Suisse upgrades Starhub to Neutral from Underperform, lowers target price to S$2.38 from S$2.55

11. Citigroup Cuts Tat Hong To Sell; S$0.70 Target

10. S-REITs Likely To Remain Weak On Credit Concerns

9. ASL Marine Target Cut To S$0.96 From S$1.56 By DMG; Buy Kept

8. Singapore Palm, O&M Plays May Fall On Oil Drop

7. China Hongxing Target Cut To S$0.40 From S$0.85 By Deutsche

6. Sim Lian Target Cut To S$0.49 From S$0.61 By BNP Paribas

5. SC Global Target Cut To S$1.34 From S$2.76 By BNP Paribas

4. SGX Target Cut To S$7.50 From S$9.00 By JPMorgan

3. Neptune Orient Target Cut To S$1.60 From S$2.00 By Goldman

2. Commodity Roundup: Base Metals Tumble, Gold Up

1. WALL STREET: Not even coordinated rate cuts could prevent stocks from falling late in day, weighed by continued tightness in credit markets, need for capital at financial firms like Bank of America and disappointing kickoff to earnings season from Alcoa. DJIA down 2%, Nasdaq off 0.8%