Singapore Stock Market Updates On 27/07/10

Morning Highlights

Singapore Stocks gained in opening trade, with STI up 18.57 points at 2986.56. Overall investor sentiment was lifted by positive market reaction to the European bank stress tests and encouraging US home data.

• Tiger Airway broke 1.98
• Parkway broke 3.92
• OCBC Investment Research on Tuesday advised shareholders of Parkway Holdings to accept the general offer of $3.95 (US$2.90) a share by Malaysian sovereign wealth Khazanah Nasional.

Watch out for Economic News Release Today:

1. U.S. Richmond Fed Manufacturing Index (July)
2. Hong Kong Export Figures

Corporate Announcements:

1. SGX and Eurex, Europe’s largest derivatives exchange, announced that they are partnering to launch the SGX EURO STOXX 50 Index futures and options on future.

News Updates:

1. U.S. stocks hemmed in at the open; investors await data on new-home sales for June
2. U.S. new-home sales rise 23.6% in June, rebounding from record low
3. Dow industrials up nearly 100 points as closing bell approaches
4. Dow rises for third straight session, lifting index back into positive territory for 2010
5. BP’s Hayward to step down in October, take job at TNK-BP joint venture: reports
6. Vietnam’s HAGL Group said it plans to sell convertible bonds worth 1.1 trillion dong (US$57.6 million) to Singapore’s Temasek Holdings.

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 17:05 (Singapore Time)

In Summary,

Index closed up 12.39 points to 2979.38, with 1.5928 billion traded.