Singapore Stock Market Updates On 06/07/10

Morning Highlights

Singapore stocks opened lower, with STI down 14.92 points to 2829.10.

• Keppel Corp broke down 8.35
• ECB will announce results for the allotment of funds in its regular 7-day refinancing operation

Corporate Announcements:

1. Cosco announced that another two of the shipbuilding contracts for two 82,000 dwt bulk carriers have become effective following the payment of the initial deposits by the ship owners.
2. Straits Asia Resources insurance claim on the damaged Jembayan Coal loader has been rejected. The value assessed is approximately US$15mn. The company will continue to pursue for the claims.

News Updates:

1. Air France plans to cut over 4,000 ground and administrative jobs over three years to reduce costs after the impact of the economic crisis on air travel pushed the airline to a record loss in the year to March.
2. AIMS AMP Capital Industrial REIT Management Limited, as manager of AIMS AMP Capital Industrial REIT, announced on Tuesday that the trust’s 13-storey, high-tech business park building at 1A International Business Park was awarded the Architecture Award (Office) Singapore at the prestigious Asia PacificProperty Awards 2010.
3. Hong Kong shares seesaw in early trade, as Shanghai gains on resource strength.
4. Tokyo stocks opened solidly lower, pushing past a six-month low as tech shares suffer from a stronger Japanese yen.

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 9:05 (Singapore Time)