Singapore Stock Market Updates On 11/08/10

Morning Highlights

Singapore stock prices weakened in opening trade, with STi down 14.75 points to open at 2969.54 after Wall Street closed lower overnight.

Watch Out For Economic News Release Today:

1. U.S. Rate Decision
2. U.S. June Trade Balance figures
3. China’s July CPI numbers

Corporate Announcements:

1. Yangzijiang announced 31.8% year-on-year growth in 2Q10 net profit to RMB 800.5 million.
2. Sound Global announced 3.5% year-on-year decrease in 2Q10 net profit to RMB 74.5 million.
3. UOB announced 28% year-on-year growth in 2Q10 net profit to S$602 million.
4. Cosco’ssubsidiary secured contracts valued over US$ 55 million to build two carriers of 57,000 dwt each. The carriers are scheduled for deliveries in Sep 11 and Mar 12 respectively.

News Updates:

1. US total wholesale inventories rose 0.1% to US$399.2 billion at the end of June after an unrevised 0.5% rise in May while sales at wholesalers fell unexpectedly by 0.7% after a downwardly revised 0.5% decline in May. The biggest drags included sales of petroleum and apparel. These reports added to of sluggish demand as the recovery loses some steam.
2. US consumer confidence fell 2.5% in August from July as Americans remained unconvinced by government efforts to revive the economy, a report found on Tuesday.
3. Japan June core machinery orders up 1.6% mth/mth; Japan July wholesale prices fall 0.1%

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)