Morning Highlights
There Are No Quick Picks For Today!
Most of the Asian Stocks are higher, including Tokyo market rising sharply on recent positive earnings reports, while other investors welcomed the U.S. Federal Reserve’s latest stimulus package.
Likewise, Singapore market also advanced in green, with STI up 13.45 points to open at 3238.42. However, market is deemed doing its correction, hence, we advise to trade with cautious.
We have removed NOL from our picks as it is currently pulling back as well. Lookout for resistance at 2.35. Next, we are observing F&N for mid term holding opportunity.
Please note that Singapore is closed for Holiday tomorrow!
Watch Out For Economic News Today
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Rate announcement from ECB
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U.S FOMC Rate Decision
Watch Out For Economic News For Friday
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Bank of Japan Rate Announcement
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U.S Change in Nonfarm Payrolls (Oct)
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U.S Unemployment Rate
Corporate Announcements:
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DBS reported a 28% increase year-on-year on its 3Q10 net profit to S$ 722 million.
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Cosco reported a 147% increase year-on-year on its 3Q10 net profit to S$ 55.1 million.
News Updates:
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The Policy makers, setting a pace of about $75 billion of purchases a month, “will adjust the program as needed,” the Fed’s Open Market Committee said yesterday in a statement in Washington. The central bank left unchanged its pledge to keep interest rates low for an “extended period” after Chairman Ben S. Bernanke said it could be modified in some way. (Bloomberg)
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Hong Kong shares rose 1.18% by the break on Thursday as traders welcomed the US Federal Reserve’s bigger-than-expected monetary easing measures to boost the economy.
