Index opened up 10.96 points at 3160.32 before advancing upwards. 3100 is seen as strong support so far. We shall wait for a clean and decisive breakout at 3200.
News update :
1) Pfizer to acquire King Pharmaceuticals for $3.6 billion cash, at a premium of about 40%.
2) US stocks start off in the red Tuesday ; energy sector shoes weakness.
3) Obama administration lifts ban on deepwater drilling in Gulf of Mexico.
4) Another round of quantitative easing may “soon” be appropriate : Fed minutes.
5) US stocks end higher after minutes show Fed is prepared to take additional easing steps
6) Intel reports 59% jump in profit, driven by solid corporate demand.
Analyst’s recommendations :
1) Yanlord Land started at Buy, $2.10 Target by Deutsche Bank (2010/10/13 07:36AM)
2) Yangzijiang started at Buy, $2.25 by Citi (2010/10/13 07:38AM)
3) Yangzijiang target raised to $1.90 From $1.20 by HSBC (2010/10/13 08:42AM)
4) Cosco Corp target raised to $1.35 from $0.65 by HSBC (2010//10/13 08:49AM)
5) Sembcorp Marine target raised to $5.18 from $4.73 by Nomura (2010/10/13 07:39AM)
6) SPH cut to neutral from outperform by CS (2010/10/13 07:40AM)
7) Keppel Corp : Issues $500 Mln 10-Year Fixed-Rate Notes (2010/10/13 07:56AM)
8) CDL Hospitality Trusts started at Outperform, Target $2.52 – CS (2010/10/13 07:56AM)
9) ECS Holdings may gain; seeks to list TDRs.
Quick picks :
1) Banyan Tree enter 0.975 SL 0.875
2) SembMarine enter 4.39 SL 4.11
Mid Term Holdings :
1) Keppeland enter 4.19 SL 3.95 (Triggered!)
