Singapore Stock Market Updates On 22/09/10

1) US housing starts jump 10.5% in August.

2) Fed warns of deflation, stands ready to ease further as needed; benchmark rates unchanged.

3) Adobe shares drop 11% late after company’s shares forecast falls short of expectations.

Indexes down after Fed Statement (Reuters) – US stocks ended flat to lower in an erratic session on Tuesday after the Federal Reserve inched closer to further steps to spur the economy. Stocks initially popped higher but gave back those gains quickly. Investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify the measures it would take to stimulate demand. The central bank nudged the door wider to pumping more money into the economy but kept overnight interest rates unchanged near zero, as expected. With the S&P 500 up about 9% this month, investors still felt a conflict whether a move by the Fed would be enough to put the economy on a path to sustainable growth.

US Fed ‘prepared’ to act if recovery stalls (AFP) – The US Federal Reserve avoided pulling the trigger on fresh stimulus spending at a top-level policy meeting Tuesday, but said it was prepared to act if the tepid economic recovery cools further. The bank left interest rates at record lows as part of an effort to shore up the “modest” recovery, but shield away from a new-and controversial- round of spending.”The committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery.”

1) K-Reit Asia started at Outperformed, $1.45 Target by CS (2010/09/22 07:51AM)

2) CapitaCommercial Trust target raised to $1.63 Vs $1.37 by CS (2010/09/22 07:52AM)

3) Suntec REIT Target raised to $1.55 from $1.40 by CS (2010/09/22 07:52AM)

4) Wilmar Target cut to $7.45 from $8.00 by Morgan Stanley (2010/09/22 07:53AM)

5) Indofood Agri cut to Equalweight from Overweight by MS (2010/09/22 07:54AM)

6) Indofood Agri Target cut to $2.30 from $2.60 from MS (2010/09/22 07:55AM)

7) Cosco Corp Target raised to $2.30 from $1.40 by Citigroup (2010/09/22 07:56AM)

1) Hong Kong Land enter 6.15 SL 5.74

2) Olam enter 3.06 SL 2.90

3) Raffles Medical enter 2.30 SL 2.16

4) Genting enter 2.19 SL 2.06

5) Broadway enter 1.30 SL 1.19

6) Guocoleisure enter 0.69 SL 0.635

7) Biosensors enter 1.01 SL 0.95 (triggered) , next setup to enter 1.06 SL 0.99