March 20, 2012 / 12:36 AM / 5 years ago

Singapore Stocks-May rise; Global Logistic Properties in focus

SINGAPORE, March 20 (Reuters) - Singapore shares may open
higher on Tuesday after Wall Street rose overnight as U.S.
housing data and sentiment for March remained at its highest
level since June 2007. 	
    Global Logistic Properties Ltd may be in focus as
it announced a 50:50 joint venture with Japanese real estate
company, Mitsui Fudosan Co., Ltd, to develop a
multi-tenant logistics facility with a gross floor area of
121,000 square meters in Ichikawa City, Chiba prefecture
(Greater Tokyo), Japan. 	
     	
> S&P within 10 pct of record high                          	
> U.S. Bonds resume sell-off, yields hit 4-1/2 month highs 	
> Euro hits more than one-week high against dollar        	
> Gold up on cenbank buying talk but outlook weak         	
> Brent dips, US oil rises on refinery problems            	
         	
    Stocks and factors to watch: 	
    -- STX OSV HOLDINGS LTD 	
    - Singapore-listed shipbuilder STX OSV said it secured two
separate contracts worth an approximate total of 1.15 billion
Norwegian Crown ($201.12 million) for the construction of an
advanced subsea support vessel and an offshore subsea
construction vessel. Delivery of the former vessel is scheduled
for the first quarter of 2014 and the second quarter of 2013 for
the latter.  	
    	
    -- MENCAST HOLDINGS LTD 	
    - Singapore sterngear equipment manufacturer and supplier
Mencast will issue a total of 22.5 million new shares to four
subscribers at S$0.53 -- a discount of about 5.4 percent to the
weighted average trading price of shares traded on March 14. The
issue represents 11.8 percent of the total existing share
capital of the company. Mencast shares resume trading on Tuesday
after having halted its trading on Thursday. 	
     	
    - Singapore's benchmark Straits Times Index fell
0.68 percent on Monday to 2,990.09 points. 	
    - The Dow Jones industrial average gained 0.05
percent to 13,239.13. The Standard & Poor's 500 Index 
rose 0.4 percent to 1,409.75. The Nasdaq Composite Index 
closed 0.75 percent higher at 3,078.32. 	
    	
    ASIA-PACIFIC STOCK MARKETS: 	
    Japan             S.Korea       China   	
    Hong Kong        Taiwan        SE Asia 	
    Australia/NZ     India      	
    	
    OTHER MARKETS: 	
    Wall Street       Gold         Currency  	
    Eurostocks       Oil           JP bonds  	
    ADR Report      LME metals  US bonds  	
         	
    STOCKS NEWS US, Europe, Asia: 	
      	
    DIARIES & DATA: 	
    IPO diary & data 	
       U.S. earnings diary 	
      Singapore diary 	
         Eurostocks Week Ahead 	
     Asia earnings diary 	
      European diary 	
    Wall Street Week Ahead 	
    TOP NEWS: 	
      Asian companies       U.S. company
News 	
      European companies    Forex news 	
    Global Economy       Technology 	
    Telecoms            Media news 	
      Banking news           
General/political 	
    Asia Macro 	
    A multimedia version of Reuters Top News is available at: 	
    topnews.session.rservices.com 	
    LIVE PRICES & DATA: 	
    World Stocks        Currency rates  	
    Dow Jones/NASDAQ  Nikkei 	
    FTSE 100 Debt  	
    (Local currency) LME price overview 	
	
($1 = 5.7180 Norwegian krones)	
	
 (Reporting By Mark Tay; Editing by Michael Perry)

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