Morning Highlights

Singapore market eased in opening trade after US stocks succumbed to late selling overnight, with STI dropped 8.51 points to open at 2877.13.

  • Yangzijiang broke 1.35

Corporate Announcements:

  1. Yangzijiang will be proceeding with its planned placement agreement with QD Asia, a wholly-owned subsidiary of a Qatar sovereign wealth fund. Yangzijiang will place out 83.55m new shares with QD Asia at $1.295 per share.
  2. Sound Global’s planned dual listing in Hong Kong has been granted an approval in principle by the Stock Exchange of Hong Kong. The maximum offer price has been set at HK$5.60.
  3. NOL reported its container shipping operating performance for the four weeks from May 1 to May 28 2010 which showed a 34% increase in container shipping volumes over the same period last year. The average revenue per FEU (Forty-foot Equivalent Unit) was 19% above the same period last year, largely due to improved core freight rates in a number of trade lanes.
  4. Yanlord has established a new wholly-owned JV in Nanjing, PRC through its JV company Sino-Singapore Nanjing Eco Hi-Tech Island Development Co., Ltd.

News Updates:

  1. U.S. stocks rise sharply as markets bet on yuan appreciation‏ but turn lower in final hour of trading as yuan-inspired rally fades‏

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)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 SFLD Stamford Land Corp Ltd 0.52 0.47 0.57
2 ARMS Armstrong Industrial Corp 0.475 0.425 0.525  
3 OSIL OSIM International 0.93 0.875 0.985 Overnight, Current Price at 0.945
(resistance at 0.99)
4 HLAA Hong Leong Asia 3.55 3.47 3.63 Overnight, Current Price at 0.3.61

Stock Prices last updated at 9:29 (Singapore Time)

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