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MUMBAI, Oct 10- Shares of India's Polaris Financial Technology Ltd slumped on Wednesday after the country's market regulator accused the software services firm's chief executive of insider trading and barred him from participating in the securities markets for two years.
11:49 STOCKS NEWS SINGAPORE- Maybank ups target price on Keppel Corp. Maybank Kim Eng raised its target price on rigbuilder Keppel Corp Ltd to S $13.30 from S $12.90, and kept its' buy' rating to reflect the higher share prices of some of its units such as Dyna-Mac Holdings Ltd. At 0221 GMT, Keppel shares were down 0.97 percent at S $11.23.
*Blue chips that report earnings on Friday lead the fall in India: Infosys. falls 1.4 percent, while HDFC Bank. *Traders still welcomed a government panel report recommending India scrap a law that taxes asset transfers retrospectively.
Oct 10- H&R Block Inc, the biggest U.S. tax preparer, said it is exploring strategic alternatives for its small banking operation to avoid a looming sharp rise in costs associated with the introduction of stricter supervision under the Dodd-Frank Act.
*FTSE 100 down 0.6 percent. LONDON, Oct 10- Global growth worries prodded Britain's top share index lower on Wednesday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems.
SINGAPORE, Oct 10- Shares of Thai Beverage PCL. Companies linked to Thai billionaire Charoen Sirivadhanabhakdi, including Thai Bev, own 33.5 percent of F&N and have launched an offer to buy all of the Singapore group.
S Treasury Secretary Tim Geithner, Fed Chairman Ben Bernanke will visit Mumbai. *Prime Minister Manmohan Singh to speak at International Energy ministers meeting in New Delhi. *World Steel Association's 2- day annual conference in New Delhi.
*Nifty futures on the Singapore Exchange. *A government panel recommended in a draft report on Tuesday that India should scrap a law that taxes asset transfers retrospectively, a move that could save Britain's Vodafone $2 billion.
BANGKOK, Oct 10- Shares in Thai hospital firm Bangkok Dusit Medical Services Pcl fell more than 4 percent on Wednesday after a report key shareholders were selling a combined 13.7 percent at a price lower than the market. By 0312 GMT, the shares were trading down 3.7 percent at 105.5 baht, after falling at one point to 104.5 baht.
Maybank Kim Eng raised its target price on rigbuilder Keppel Corp Ltd to S $13.30 from S $12.90, and kept its' buy' rating to reflect the higher share prices of some of its units such as Dyna-Mac Holdings Ltd. At 0221 GMT, Keppel shares were down 0.97 percent at S $11.23. Dyna-Mac, which is about 27 percent- owned by Keppel, has gained 16.5 percent this year.
Shiseido Co Ltd fell 2.2 percent to 945 yen, hitting a 17- year low, after Deutsche Bank cut its price target on the cosmetics maker to 1,000 yen from 1,240, saying the company faced a tough business environment.
MELBOURNE, Oct 10- Australian shares slipped 0.3 percent on Wednesday, with falls across the board after a weak lead from Wall Street, while gold miners fell after bullion prices eased offshore.
Kenanga Research downgraded Malaysia's telecommunication sector to' neutral' from' overweight' as it believes the sector's near-term catalysts have been essentially priced in. It downgraded DiGi.COM Bhd, Malaysia's third largest mobile phone operator by market value, to' market perform' from' outperform' and kept the target price of 5.20 ringgit.
JFE Holdings dropped 3.4 percent to 979 yen and Kobe Steel Ltd lost 4.8 percent to 60 yen after Nomura Securities cut its price targets on the two steelmakers.
OCBC Investment Research upgraded healthcare service provider Raffles Medical Group to' buy' from' hold' and raised its target price to S $2.82 from S $2.63, on expectations of stronger earnings in the second half of the year.
Printed circuit board maker Ibiden Co Ltd sagged 3.9 percent to 995 yen, hitting a nine-year low, while Shinko Electric Industries Co Ltd, maker of semiconductor packages and leadframes, shed 1.8 percent to 486 yen. Nidec Corp, maker of micro motors, dropped 2.7 percent to 4,980 yen and TDK Corp lost 1.9 percent to 2,820 yen.
HONG KONG, Oct 10- Hong Kong shares were set to open lower on Wednesday, with property stocks among the biggest losers, as weakness on Wall Street sparks profit-taking after the previous session's China- led rally. The China Enterprises index was indicated to open down 0.6 percent. Keywords: MARKETS HONGKONG CHINA STOCKS/.
AmInvestment Bank raised its target price on state power firm Tenaga Nasional Bhd to 8.15 ringgit per share from 7.95 on expectations of stronger earnings for the next two years. AmInvestment kept its' buy' call on Tenaga due to expected lower capacity costs from winning a tender to build a 3 billion ringgit power plant in the northern Malaysian state of Penang.
TOKYO, Oct 10- The benchmark Nikkei average. **TOKYO ELECTRON RISES AFTER Q2 ORDERS BEAT EXPECTATIONS**. Tokyo Electron Ltd advanced 1.5 percent to 3,315 yen after its second quarter orders came in at 75 billion yen, above market expectations of between 50 and 60 billion yen, traders said.