Singapore Hot Stocks

SINGAPORE, Jan 9 (Reuters) - Singapore Airlines (SIA) may be in focus on Wednesday after it failed to buy a stake in China Eastern.

U.S. stocks tumbled on Tuesday after a warning by phone company AT&T of soft consumer spending sparked a new round of recession fears, helping drive the S&P to its worst-ever five-day start to a year.

Stocks and factors to watch:

- China Eastern Airlines shareholders rejected a deal to sell a 24 percent stake to Singapore Airlines for $920 million, opening the door for bigger rival Air China to make a play for the country's third-largest carrier.
- Loss-making electronics distributor SNF said it is in a S$525 million ($367 million) reverse takeover deal with Healthway Medical Services, where the healthcare provider will gain 97 percent of the new company through the issuance of new SNF shares.
- STX Pan Ocean, a South Korean shipping firm, said it would spend about $810 million in 2008 on new vessels including bulk ships and containers.
- UOL Group has bought a residential land site in eastern Singapore's district of Simei for S$236 million ($165 million), a government agency said.
- Fuel trader Chemoil said it will go ahead with the operations of its new Helios Terminal despite the death of its founder and chief executive Robert Chandran on Monday.
- Japanese real estate investment trust (REIT) Saizen REIT has postponed its refinancing plans due to uncertainties in the credit markets, the firm said, adding that the credit squeeze has led to a slow down in Saizen's investment pace.
- Macquarie MEAG Prime Real Estate Trust (REIT) is raising S$2 billion ($1.40 billion) through a medium-term note programme to fund activities including acquisitions.
- Trading in shares of Biosensors International will be halted as of 9 a.m. pending an announcement, the company aid in a statement.
- Singapore's Straits Times Index lost 0.44 percent to 3,338.27 points on Tuesday.
- The Dow Jones Industrial Average fell 1.86 percent to end at 12,589.07. The Nasdaq Composite Index slipped 2.36 percent to 2,440.51.