Stocks news singapore-index falls after china's factory data

Singapore shares fell, largely in line with regionalmarkets, after the latest survey of factory managers showedChina's economy is seeing a seventh straight quarter of slowinggrowth. The

Straits Times Index and the MSCI index ofAsia-Pacific shares outside Japan was each down0.4 percent. One of the biggest decliners on the Singapore bourse wasWilmar International Ltd , which

eased as much as 2.2percent to S$3.18. Before the fall on Monday, the stock had gained nearly 2percent after the palm oil giant announced a joint venture withUnited States cereal maker

Kellogg Co to expand into China'sbreakfast and snack market. OCBC Investment Research said while the joint venture allowsWilmar to monetise its extensive distribution channels in

Chinaand diversify downstream, the benefits are not likely to be seenimmediately. OCBC maintained its 'hold' rating and S$3.06 target price onWilmar. Shares of AusGroup Ltd , which

providesconstruction services to the mining as well as oil and gasindustries, extended their gains after the company said lastweek it was looking to list its operations on the

AustralianSecurities Exchange. AusGroup shares gained as much as 5 percent on volume ofnearly 36 million shares. It was the top traded stock by volumeand the third-highest by value in the

Singapore market. 1300 (0500 GMT) (Reporting by Eveline Danubrata in Singapore;[email protected]) ************************************************************ 11:21 STOCKS

NEWS SINGAPORE-CIMB raises target on UnitedEngineers CIMB Research raised its target price on United EngineersLtd to S$3.14 from S$2.78 and maintained its'outperform' rating to

factor in the company's hospitalityassets and business park values. United shares were down 0.4 percent at S$2.48 on Monday. Thestock has increased 32 percent so far this year versus

the 25percent gain in the FT ST Small Cap Index . CIMB said United's portfolio of investment assets has grownto S$1.7 billion ($1.4 billion). It added that it sees potentialfor

redevelopment of the company's building in Singapore, UESquare, and does not rule out asset divestments. United's balance sheet is likely to strengthen in 2014 - agood time for

large developments or acquisitions - and the firmmay give a potential dividend surprise, CIMB said. Its targetprice was pegged to a 35 percent discount to revised net assetvalue, it added.

However, CIMB flagged a weak 2012 fiscal year due to achange in accounting treatment, with United's earnings backedpurely by investment properties and construction segment. 1110 (0310

GMT) (Reporting by Eveline Danubrata in Singapore; Editing bySunil Nair; [email protected])($1 = 1.2267 Singapore dollars) Keywords: MARKETS SINGAPORE STOCKSNEWS/MIDDAY