Morning Highlights

Singapore market started slightly firmer after US stocks finished marginally higher on positive economic growth data on Friday. STI up 12.12 points to open at 2762.98.

As mentioned last Friday, our market sentiment remains: Cautious

Corporate Announcements

  • Wilmar reported FY09 net profit of US$1.88 billion, up 23% Year-on-Year (YoY). 4Q09 net profit grew 18% to US$422 million.
  • UOB reported a record operating profit of S$3.33 billion for 2009. The company’s 4Q09 net profit rose 57.2% YoY to S$522 million.

News Updates 

  1. Oil and gas major Royal Dutch Shell is selling a number of assets, including its European liquid petroleum gas businesses, to fund a 28 billion pound capital spending programme, the FT reported on Monday, citing unnamed sources.
  2. Germany’s Merck to buy Millipore in US$7.2 billion deal.
  3. American International Group Inc. neared an agreement late Sunday to sell its Asian life-insurance business to the U.K.’s Prudential PLC for about $35.5 billion.
  4. U.S. economy expanded at a 5.9% annual rate in the fourth quarter.
  5. Sales of previously owned U.S. homes unexpectedly declined in January for a second month. Purchases fell 7.2%, the second-largest decline ever, to an annual pace of 5.05 million, the National Association of Realtors said.

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 BRWY Broadway Industrial Group Limited 0.94 0.845 1.04

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 HIPI Hi-P International Ltd 0.645 0.715 0.575
2 GENS Genting Singapore 0.885 0.905 0.865 Overnight – Current Price at 0.89

Stock Prices last updated at 9.10 (Singapore Time)

Data Released Dates

  1. U.S. Stats on the January Personal Income and February’s ISM Manufacturing numbers on Monday 01/03/10.
  2. The America’s confidence level on Wednesday 3rd March 10.
  3. U.S. Initial Jobless Claims for the week on Thursday 04/03/10 and Non-farm Payrolls in February will be out on Friday 05/03/10.
  4. European Central Bank announced interest rates and 4Q09 numbers on Thursday 04/03/10.
  5. In China, PMI Manufacturing gauge and HSBC Manufacturing PMI will be out today on Monday 01/03/10 while Singapore (on Tuesday 02/03/10 ) and Hong Kong (on Wednesday 03/03/10).
  6. Japan February’s Vehicle Sales numbers on Monday 01/03/10. The January Jobless Rate on Tuesday 02/03/10, while Japan’s Capital Spending in the 4Q will be released on Thursday 04/03/10.

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