Morning Highlights
Selective Blue Chips To Lookout For…
Singapore stocks open up after Wall Street rally with the STI up 13.78 points to open at 2958.00.
-
Lookout for selective blue chips: Genting Singapore, Hong Kong Land and CapitaMall.
-
Look out for Singapore’s April PMI figures today.
-
Venture broke 9.93.
Watch out for U.S. economic data to be released today: March Factory Orders and Pending Home Sales.
After moving higher early in opening session on the back of a positive close on Wall Street overnight, Singapore market has shed most of its gains and slipped further downwards, breaking down support at 2932.04…
Corporate Announcements
-
Ezra planned to issue a three-year unsecured guaranteed financing of US$100 million to finance new business ventures and capital expenditures.
News Updates:
-
Consumer spending rises above pre-recession level, up 0.5% in March
-
U.S. stocks post solid gains in opening half-hour; Dow industrials up as much as 86 points
-
Ford’s U.S. sales surge nearly 25% in April; GM’s monthly sales rise about 6%
-
Dow closes with 143-point gain — biggest since February.
-
French parliament approves Greek aid package
-
US miner Peabody Energy is reviewing the impact of Australia’s new tax on mining profits as it weighs up its US$3.8 billion offer for Australian miner Macarthur Coal, Macarthur said on Tuesday.
-
Federal law may limit how much BP has to pay for damages such as lost wages and economic suffering in the Gulf Coast oil spill, despite President Barack Obama’s assurances that taxpayers will not be on the hook.
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)
|
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
| 1 | SIAT | Singapore Airport Terminal Services Ltd | 2.93 | 2.74 | 3.12 | |
| 2 | UTES | United Engineers | 2.65 | 2.51 | 2.79 | CANCELLED |
| 3 | PTGL | Pteris Global | 0.31 | 0.215 | 0.405 | |
| 4 | TAT | Tat Hong Holdings | 1.12 | 1.02 | 1.22 | |
| 5 | CMLT | CapitaMall Trust | 2.00 | 1.90 | 2.10 | |
| 6 | GENS | Genting Singapore | 0.985 | 0.92 | 1.05 | |
| 7 | TCIL | Tan Chong International Ltd | 2.08 | 1.98 | 2.18 |
Bearish Stocks (Singapore)
|
Symbol |
Name |
Entry |
SL |
TSL |
TP |
Remarks |
| 1 | CMAL | CapitaMall Asia | 2.12 | 2.22 | 2.02 | NOT ENTERED |
| 2 | EZRA | Ezra Holdings | 2.02 | 2.12 | 1.92 | |
| 3 | WTHS | Wing Tai Holdings | 1.73 | 1.85 | 1.61 |
Stock Prices last updated at 17.05 (Singapore Time)
Afternoon Highlights
Index continued to trade lower, but supported by 2900…
-
The ISM’s index of activity in the manufacturing sector rose to 60.4 in April from 59.6 in March, expanded for 9 consecutive month and rising to its highest level in almost 6 years.
News Updates:
-
China PMI Falls To 55.4 In April
-
Russian April Manufacturing PMI Rises To 52.1 From 50.2 In March
-
U.K. PMI rose to fifteen-and-a-half year peak of 58 in April from 57.3 in March
-
Australia raise cash rate to 4.5%
In Summary,
STI declined 43.04 points to finish at 2901.18, with 1.8311 billion traded.
Despite a positive close on Wall Street overnight, investors are mostly seen treading cautiously in the Asian stock markets today. Though some of the markets in the region are trading in positive territory, gains are somewhat limited so far amid listless movements.
Due to China tightening its policy and Australia raising its cash rate, STI is taken down as financial sector lost ground; DBS shed 1.59% to S$14.86 (dod), UOB lost 2.08% to S$19.82 (dod) and OCBC fell 1.94% to S$8.59 (dod).
Other decliners include, SPH, F&N and City Development.
We advise to trade cautiously, especially since US market is very volatile too. Last but not least, should 2900 gives way, the next support is at 2850.
