Singapore Stock Market Updates On 03/11/10

Singapore stocks edged higher, with STI up 9 points to open at 3214.28.  

Watch Out For Economic News Today

1. Hong Kong Oct PMI
2. U.S Oct ADP Employment Change

Corporate Announcements:

1. Straits Asia reported a 40% decrease year-on-year on its 3Q10 net profit to US$ 23 million.
2. Tiger Airways reported 2Q11 net profit of $ 14mn compared to a loss of $2.3 million same period last year.
3. Noble announced that Tobias Brown, Executive Chairman, will cease his executive duties with immediate effect. Its Senior Executive Vice President in the office of the Chairman will also cease his executive role.
4. Swiber launched Swiber PJW3000, one of the largest Derrick Pipe-lay Barge in the Asia Pacific region.

News Updates:

1. The Malaysian government will study a proposal by local steelmakers to impose a 30 per cent duty on iron ore exports to boost domestic use of the steelmaking ingredient, state news agency Bernama reported. 
2. U.S. stocks rallied; S&P 500 has surged 14% since Fed Chairman Ben S. Bernanke indicated in August that he was considering pumping more cash into the economy. The Fed will probably announce a plan to purchase at least $500 billion of long-term securities today, according to economists surveyed by Bloomberg News. The decision will follow yesterday’s midterm elections in which Republicans are projected to gain control of the House.

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 11:20 (Singapore Time)

Quick Tip: Index is inching up, market outlook is bullish and we are seeking opportunities from Blue Chips… Observing!