DMG Daily 13 Feb 08 - NOL, DBS, Jade, Yoma, China Essence, Vicom, Mercator, Aztech, Robinson

Market Outlook
It was a day for the bargain hunters as the STI opened up 0.9% at 2,895
over its previous close and barely looked back for the rest of the
session.
A positive open by the Hong Kong market further strengthened sentiment
on the local front as the STI eventually closed up 57.94 points or 2.02%
to
2,926.23 on Tuesday. The show that had been put on by the index was
easily one of the best performers in the region. On the scoreboard,
gainers beat losers 466 to 208 while volume traded also improved to
1.49bn shares that were worth some $1.55bn. Index heavyweight SingTel
continued to lend support to the STI as it jumped 21 cents or 5.6% to
$3.93 although the three local banks underperformed as investors
continued to shun financials.
A target price cut on UOB and DBS by a major foreign brokerage didn't
help as both lagged the broader market by inching up 1.2% and 0.7% to
$17.20 and
$16.78 respectively. For the week, expect the retail sales economic data
to be released on Wednesday in the US as one of the major events as
investors gauge the health of the US consumer.

Media Highlights
- NOL Q4 net up almost four times to US$196m
- DBS seen posting sharply lower Q407 earnings
- Jade Tech in deal to sell loss-making unit
- Yoma in the black with $21m Q3 profit
- China Essence reports 85% jump in Q3 net profit
- Vicom full-year net profit accelerates 31% to $13.5m
- Mercator's Q3 profit jumps to US$14.4m
- Aztech wins $253m material supply deal
- Robinson Q2 profit up 6.7% on higher sales

Economic Highlights
- Credit crisis spreading far beyond sub-prime loans
- Fed may have to cut rates to 1% or lower: Citigroup