Morning Highlights

Singapore shares rise slightly, up 11.58 points to open at 2,943.62 after overnight gains on Wall Street. Index is seesawing but still holding up positively. 

  • Global Palm opened under water at 0.425
  • China Sunsine Q1 profit up 179% to S$6.1 million

Corporate Announcements

  1. Straits Asia Resources announced (68)% drop year-on-year in 1Q10 profit after tax to $11.2 million.

  2. Capitaland announced the establishment of indirect wholly-owned subsidiary, Ascott Holdings (Europe) Pte. Ltd.

 News Updates:

  1. U.S. blue chips cling to early gains; Fed decision due at 2:15 p.m.
  2. ‏Senate Republicans block financial-reform bill for third time‏
  3. Fed maintains status quo on rates; it sees an improving but constrained U.S. economy‏.
  4. Handset maker Palm to be bought by H-P for $1.2 billion‏.

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 SIAT Singapore Airport Terminal Services Ltd 2.93 2.74 3.12  
2 UTES United Engineers 2.65 2.51 2.79  
3 WPSL Wheelock Properties Ltd 2.13 1.93   2.33  
4 KPLM Keppel Corp 10.54 9.77   11.32  
5 SCMN Sembcorp Marine 4.51 4.32   4.70  
6 MOIL Mandarin Oriental International 1.77 1.59 1.95
7 STTS Stats ChipPAC 1.21 1.11 1.31
8 MAPL Mapletree Logistics Trust 0.92 0.855 0.985
9 PTGL Pteris Global 0.31 0.215 0.405  

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index eased in late afternoon and went sideways thereafter…

 News Updates:

  1. MCL Land posts US$49 million net profit for Q1
  2. Ho Bee’s Q1 net profit up 11.8%
  3. Jardine Cycle & Carriage Limited’s net profit rose by 97% to US$177.8 million for the first quarter 2010.
  4. Thai Q1 GDP growth estimated at 8-9%: ministry

In Summary,

Index up 26.97 points to close at 2959.01, with 1.9014 billion traded.

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