Singapore Stock Market Updates On 01/09/10

Morning Highlights

Singapore market started positive, with STI up 8.14 points to open at 2958.47. Other Asian stock markets are also moving higher, with solid economic data from China and Australia helping investors overcome some early jitters over the health of the global economic recovery.

• Singapore’s Q3 GDP to grow 11.6%: MAS poll
• Ezra falls to 3-month low on rights issue

Watch Out For Economic News Today:

1. China August PMI Manufacturing (China’s official PMI rose to 51.7 in August from 51.2 in July)
2. Hong Kong August PMI
3. Euro-zone  August PMI
4. U.S August ADP Employment Change
5. U.S August ISM Manufacturing

Corporate Announcements:

1. Singtel launched a comprehensive suite of entertainment, convergence and productivity applications on high-speed fibre services to retail service providers.
2. Ezraproposed a 1-for-5 rights issue at $1.18 each to raise approximately $155.3 million.

News Updates:

1. S&P/Case Shiller index of home prices in 20 U.S. cities climbed a more- than-forecast 4.2% in the second quarter.
2. Conference Board’s confidence index increased to 53.5, rebounding from a five-month low.
3. Australian Bureau of Statistics showed the country’s average measure of GDP rose a better-than-expected 1.2% in the second quarter of 2010 from the first quarter, and grew 3.3% from the year-earlier period.
4. India factory PMI slips but growth still strong
5. A law firm hired by the estate of Lehman Brothers Holdings Inc has demanded trading records, email and other material for all of 2008 from a few hedge funds and Goldman Sachs, the New York Times 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)

Stock Prices last updated at 13:50 (Singapore Time)