Singapore Stock Market Updates On 20/09/10

Morning Highlights

Singapore market kicked off on a mixed note with STI down 0.88 points at 3075.49. So far, market is holding and moving upwards…

• Midas gets approval for secondary listing in HK
• UOB buys HSBC’s banknotes business for US$15 million

Watch Out For Economic News Today:

1. U.S September NAHB Housing Market Index
2. U.S August Housing Starts

Corporate Announcements:

1. Keppel is on schedule to deliver the first of two new generation derrick pipelay vessels to Global Industries.
2. Swiber appointed Francis Wong as CEO, while group founder Raymond Goh will relinquish his position as CEO and remain as executive chairman.
3. Cosco’s subsidiary has secured contracts valued over USD51mn to build two carriers for a European ship owner.
4. SGX said it is launching a new commodity clearing service for OTC traded rubber contracts on 11 Oct 2010.

News Updates:

1. Japanese newspapers broadly welcomed Prime Minister Naoto Kan’s new cabinet on Saturday but warned ministers had to work hard to tame a booming yen and put a lid on a damaging territorial row with China.
2. U.S. stocks rose, capping a third straight weekly gain, as better-than-estimated results at technology companies overshadowed a drop in consumer confidence and concern Europe’s debt crisis is worsening.

3. U.S. consumer prices rise 0.3% in August; core inflation rate is 0%.

4. U.S. consumer-sentiment gauge declines in September; stocks turn negative after data.

5. Silver sets 30-year high; gold closes winning week at record level.

6. Regulators close five banks, bringing 2010 tally of such failures to 124.

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.

Bullish Stocks (Singapore)

Stock Prices last updated at 9:00 (Singapore Time)