Morning Highlights

Singapore shares opened higher, with the STI up 11.3 points to 2,898.76. It is now trading above 2900.

Japanese stocks also pulled higher as helped by improved results in the Bank of Japan’s tankan business sentiment index, with some auto shares rising ahead of U.S. sales numbers and with Dai-ichi Life making its market debut.

  • NOL broke high of 2.03 (New trade opportunity, to Buy at 2.10, Stop Loss at 2.02, Target Profit Level at 2.18) – Triggered, refer to Quick Pick 9
  • TTJ opened underwater at 0.19

Market has rebound from yesterday sell down. It is holding well above 2900 throughout the morning session. Looks like yesterday was just a temporary retreat.

 Corporate Announcements:

  1. Noble Group announced that Peabody Energy has submitted a non-binding indicative proposal to Macarthur Coal. In response to the Proposal, Macarthur indicated that it was not in the best interests of the shareholders of Macarthur in its current form.

 News Updates:

  1. U.S. stocks close down on jobs data; Nasdaq leads indexes with 6% quarterly gain.
  2. Rock-bottom interest rates are still needed to aid the US economic recovery, but there’s a chance that the Federal Reserve may have to start raising rates before America’s unemployment rate drops significantly, a Federal Reserve official said on Wednesday.
  3. ADP reported that U.S. non-farm private employment fell by 23,000 jobs in March following a revised decrease of 24,000 jobs in February.
  4. U.S. Factory Orders rose in February for the 10th time in the past 11 months by 0.6%, a little more than forecast of 0.5%.
  5. President Barack Obama announced a new expansion of offshore oil and natural gas drilling off of the outer continental shelf.
  6. Natural gas closes first quarter with 31% loss; copper rises 6.2% to lead metal gainers.
  7. Japan Tankan Survey showed that Japanese companies are less pessimistic about business conditions in the three months to March.
  8. Citi’s Primerica IPO raises $321 million, topping expected range. 

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 PARM Parkway Holdings 3.48 3.34 3.62  
2 GUOC Goucoland 2.48 2.35 2.61  
3 UOBH United Overseas Bank 19.86 19.20 20.52  
4 KPLM Keppel Corp Ltd 9.39 9.11 9.67 Triggered, Current Price at 9.44
5 KLAN Keppel Land Ltd 3.77 3.66 3.88
6 CNFG China Fishery Group Ltd 2.08 1.97 2.19
7 CSES CSE Global Ltd 1.06 0.985 1.15  
8 HKLD Hong Kong Land 5.08 5.01 5.15 LOSS – CLOSED at 5.06
9 NEPS Neptune Orient Lines 2.10 2.02 2.18 PROFIT – CLOSED at 2.14

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Market is continues to hold up after lunch…

Debao Property Development Limited IPO (integrated property developer in PRC)
IPO price: $0.43
Offer size: 138 million
Underwriter: Kim eng & UOB Kay Hian
Issue Manager: Kim Eng
Commence Trading Date: 12 April 2010

 News Updates:

  1. India manufacturing PMI snaps 3-month rise in March
  2. ST Engineering announced today that its marine arm, ST Marine, has been awarded S$55 million worth of upgrading and modification contracts from both its Naval and Commercial customers.
  3. Singapore Private Home Price Index up 5.1% in Q1, while HDB resale price index up 2.7% in Q1.
  4. Jurong Cement Ltd (JCL) said on Thursday that it has received in-principle approval from the Singapore Exchange (SGX) for its delisting.

In Summary,

Index closed at 2943.34, up 55.88 points with 1.4155 billion traded. Gainers led Losers 360 to 129.

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