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SINGAPORE, Dec 24 (Reuters) - DBS Group Holdings may be in focus on Monday after the bank said it did not subscribe to the rights shares offered by Thailand's TMB Bank.
U.S. stocks jumped the most in three weeks on Friday, as strong results from the company behind the BlackBerry boosted technology shares while financials rose on a report that Singapore's Temasek may invest $5 billion in Merrill Lynch.
Stocks and factors to watch:
- DBS Group Holdings, Southeast Asia's largest bank, said it did not subscribe to rights shares offered by TMB Bank as part of the latter's $1 billion recapitalisation exercise. The Singapore lender's stake in the loss-making bank is expected to fall to 6.8 percent from the current 16.1 percent after the capital raising.
- Singapore Technologies Engineering said it will set up a joint venture aircraft engine maintenance, repair and overhaul facility in Xiamen, China where it will own 80 percent of the $78 million facility.
- Construction firm CSC Holdings and Malaysian builder IJM Corp have formed a joint venture to carry out engineering and other related work in Malaysia, IJM said.
- Mining firm Straits Asia Resources said it has completed the acquisition of the coal mining business of Indonesia's PT Separi Energi for $275 million.
- Singapore's Straits Times Index gained 1.21 percent to 3,398.10 points on Friday.
- The Dow Jones Industrial Average surged 1.55 percent to end at 13,450.65. The Nasdaq Composite Index jumped 1.94 percent to 2,691.99.
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