Singapore Stock Market Updates On 20/08/10

Morning Highlights

Singapore market retreated slightly with STI opened at 2934.72, on Wall Street overnight losses. U.S. stocks tumbled after  jobless claims were unexpected higher.

We advise to continue to stay on the sideline for the time being. Meanwhile, we have some good news to share, keep in tune for our post later during the day.

• UIC broke 2.23

Watch Out For Economic News Today:

1. Hong Kong July CPI

Corporate Announcements:

1. Straits Asia Resources announced a significant upgrade in the coal resources and reserves at its Jembayan Operation.
2. Cosco’s subsidiary has delivered a bulk carrier of 57,000 dwt to its Asian buyer.
3. Tiger Airways confirmed that two of its substantial shareholders and its President and Group CEO have sold part of their equity interests in the company at $1.90 per share.

News Updates:

1. Intel to acquire McAfee for $48 a share, valuing cash deal at about $7.68 billion
2. U.S. first-time jobless claims increase to 500,000, highest level since November 2009
3. U.S. stocks open on a modestly bearish note, as jobless claims eclipse Intel’s McAfee deal; Dow industrials finish down 144 points; Intel weighs on blue-chip index, down 3.5%
4. August Philly Fed index in negative territory as July leading indicators inch up
5. Dell reports 15.5% gain in quarterly profit, cites growth in commercial business
6. Hewlett-Packard reports higher earnings and nearly $31 billion in sales.

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 9:05 (Singapore Time)