Morning Highlights

Singapore Stocks opened lower after Wall Street shares fell as investors took profits on recent gains. STI down 9.73 points to open at 3147.72.

High chance that market is through sideway consolidations, hence, the quick picks herein are mostly for reference to lookout for.

  • Singapore September PMI
  • Taisin display strong interest, to watch out for 0.295
  • PEC broke 1.10

Watch Out For Economic News Today

  1. Hong Kong September PMI
  2. BOJ Rate Announcement
  3. U.S September Non-Manufacturing Composite
Corporate Announcements
  1. SGX reported record monthly volume in FTSE Xinhua ChinaA50 Index futures in September. It also achieved good volume in Gold spot contracts and Nikkei Dividend Futures contracts.
  2. Tiger Airways confirmed media reports that a number of cancellations occurred last weekend as a result of the knock-on effects of two aircraft being grounded

News Updates:

  1. AIA Group Ltd, American International Group Inc’s Asian life insurance business, is likely to be valued at US$28.50-US$30.5 billion based on the indicative price range set for its Hong Kong IPO, a source with direct knowledge of the matter told Reuters on Monday.
  2. U.S. August factory orders fall 0.5%, resuming a downtrend as demand for transportation equipment fell sharply…
  3. Pending U.S. home sales rose in August for the second consecutive month

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 DELO Delong Holdings 0.725 0.655   0.795  
2 FRNM Fraser & Neave 6.59 6.39   6.79  
3 HIPI Hi-P International 1.11 1.01 1.21
4 BANY Banyan Tree Holdings 0.975 0.915 1.04  
5 OKPH OKP Holdings 0.575 0.525 0.625  

Stock Prices last updated at 17:05 (Singapore Time)

Afternoon Highlights

Index traded higher, but market remains choppy…

  • Sembmarine is strong
  • Among the 3 bank stocks, OCBC is currently the strongest, to watch out resistance at 9.20.

News Updates:

  1. Australia central bank holds rates at 4.5%; Aussie dollar drops‏
  2. Bank of Japan lowers policy-rate range, says recovery pace weakening
  3. Euro area policymakers urged China on Tuesday to allow an ‘orderly, significant and broad-based appreciation’ of its currency but said Chinese Prime Minister Wen Jiabao had differed with them‏

In Summary,

Singapore shares closed higher with STI up 4.91 points to 3162.36. Volume was 1.91 billion shares worth $1.67 billion. Gainers led losers 293 to 201.

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