Morning Highlights

Singapore stocks were little changed in opening trade, with the STI adding 1.32 points to open at 2964.51.

  • MAS will release its semi annual policy statement next Monday 12th April 10, which will contain details on the Singapore exchange rate and other macroeconomic data
  1. New IPO: China Minzhong Food
    Offer Size: 197,344,000
    Offer Price: S$1.20 per unit
    Commence Trading: 15th April 2010
    Underwriter: JP Morgan, Kim Eng, Macquaire
  2. New IPO: Tiong Seng Holdings
    Offer Size: 189 million
    Offer Price: S$0.28 per unit
    Underwriter: DBS
    Commence Trading: 16th April 2010

Corporate Announcements

  1. Noble Group updated in a an announcement that Macarthur Coal has received a proposal from New Hope for scrip consideration of 2.7 of its shares for every 1 fully paid ordinary share in Macarthur. 

 News Updates:

  1. U.S. Initial jobless claims show unexpected increase of 18,000 in latest week, to 460,000‏.
  2. Greece woes spook bulls, spark early pullback in U.S. stocks‏.
  3. U.S. stocks edge higher following strong retail sales; Dow gains 30 points‏

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 DBSM DBS Group Holdings 14.86 14.58 15.14  
2 WLIL Wilmar International Ltd 7.03 6.83 7.23
3 UTES United Engineers 2.59 2.48 2.70  
4 CNFG China Fishery Group Ltd 2.16 2.07 2.25 Triggered, Current Price at 2.17
5 CDLT CDL Hospitality Trusts 1.90 1.81 1.99 Touched but not entered.
6 COSC Cosco Corp Singapore 1.48 1.34 1.62 Triggered, Current Price at 1.51 
7 IFAR Indofood Agri Resources 2.48 2.35 2.61  
8 CSES CSE Global Ltd 1.19 1.07 1.31  

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index has stabilized… Our Focus is on Mid Cap, Small Cap and China Stock.

  • Straits Asia broke high of 2.30
  • Jardine C & C,  Jardine Strategic and Hong Kong Land are among the performing blue chips. The rest are rather sluggish, especially bank stocks.
  • Boustead broke high of 0.865

 News Updates:

  1. Ezra Holdings Ltd on Friday reported net profit for the second quarter to end February 2010 fell 31% to US$10.35 million. Revenue for the three month period however rose 18% to US$74.47 million.
  2. Cosco Corporation said that Temasek Holdings has increased its stake in the company to 5%.

In Summary 

Index up 8.78 points to close at 2971.97, with 2.6585 billion traded. Gainers led losers 442 to 117.

2950 is a fairly strong support. Though index is rather flat today, it is holding up well and we can see good movement from Mid Caps and China Sector.

Based on Weekly Chart, Index is up 28.95 points with 11.2044 billion traded. The significant increase in volume expressed bullish market interests. Nonetheless, we advise to stay sideway for the time being during this market pullback. 

 

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