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Singapore Stocks-May open up; CapitaLand, STX OSV in focus

31.12.69

SINGAPORE, Oct 24 (Reuters) - Singapore shares may open higher on Monday after European Union leaders made some progress towards a strategy to fight the euro zone's sovereign debt crisis. But the mood is likely to remain cautious as final decisions were deferred until a second summit on Wednesday and sharp differences remain over the size of losses private holders of Greek government bonds will have to accept. Singapore's CapitaLand Ltd , Southeast Asia's largest property developer, may be in focus after its third-quarter net profit plunged 83 percent, due partly to lower revenue from fewer project completions in China and Australia. ----------------------MARKET SNAPSHOT @ 2353 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1238.25 1.88% 22.860 USD/JPY 76.33 0.22% 0.170 10-YR US TSY YLD 2.2157 -- 0.000 SPOT GOLD 1641.79 0.08% 1.370 US CRUDE CLc1 87.39 -0.01% 0.000 DOW JONES 11808.79 2.31% 267.01 ASIA ADRS 118.00 1.88% 2.18 ------------------------------------------------------------- > US rally reaches third week; hopes hinge on EU summit > Longer-dated US bond prices dip as EU confidence rises > Euro resilient, pins hopes on EU deal > Gold rises with equities on optimism over EU summit > Oil mixed ahead of EU meetings on debt woes Stocks and factors to watch: -- STX OSV - Singapore-listed offshore vessel builder STX OSV may be in focus after South Korean conglomerate STX Group said on Sunday it will no longer seek large-scale mergers and acquisitions, focusing instead on improving and stabilising its financial structure. -- SEMBCORP INDUSTRIES - Singapore energy, water and marine group Sembcorp Industries said on Monday its subsidiaries will sign agreements to explore the expansion of its water and industrial park businesses in China's Jiangsu Province. -- CHINA XLX FERTILISER - Singapore-listed Chinese fertilizer firm China XLX said on Monday its third-quarter net profit surged 263 percent to 102.9 million yuan ($16.1 million), lifted by higher prices and sales volume. -- HI-P INTERNATIONAL - Singapore contract manufacturer Hi-P International said on Friday it expects to report lower net profit for its third quarter, compared with the second quarter, as higher labour and material costs offset increased revenue mainly from new projects. -- RAMBA ENERGY - Singapore-listed oil and gas firm Ramba Energy said on Sunday it had started drilling of a second well in the Jatirarangon block in West Java, Indonesia. - Singapore's benchmark Straits Times Index gained 0.68 percent on Friday to 2,712.41 points. - The Dow Jones industrial average rose 2.31 percent to finish at 11,808.79. The Standard & Poor's 500 Index advanced 1.88 percent to 1,238.25. The Nasdaq Composite Index was 1.49 percent higher at 2,637.46. 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 <0#.INDEX> Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt <0#USBMK=> (Local currency) LME price overview ($1 = 6.384 Chinese yuan) (Reporting by Eveline Danubrata; Editing by Vinu Pilakkott)

Source: Reuters