Morning Highlights

The STI opened up 42.50 points to 2671.85, following the rise in Wall Street.  Market breakthrough 1st resistance at 2657.57, the next resistance is at 2681.69.

All the 3 banks are performing strongly. UOB open above our entry price, we are waiting for signal to enter. Hwa Hong has triggered, we will enter our order when the stock clears 0.52.

U.S. stocks rallied on Thursday as another bout of upbeat economic data and positive results from Cisco Systems Inc. lifted the DJIA back above the 10,000 level with its biggest daily rise in points since July 15.

Genting Berhad is on track to open the “Resorts World at Sentosa” in Singapore by early January 2010, said its chairman and chief executive Lim Kok Thay.

Corporate Announcement

DBS announced a 3Q09 net profit of $563mn, up 40.0% YoY with net interest income reaching a record. The company announced a net interim dividend of 14 cents per share

News Updates

  1. NEC Corp, Japan’s biggest PC maker, said it plans to raise up to 133.9 billion yen (US$1.5 billion) in a share offering.

  2. Nvidia Q3 net income 19c vs 11c a share; Q3 rev $903.2 million vs $897.7 million –> Nvidia shares rise 6% after release of Q3 result and sees Q4 gross margin of 40% to 42%

  3. Starbucks reported Thursday afternoon its fiscal Q4 profit jumped on lower operating costs as store-traffic trends improved. For the quarter ended Sept. 27, net income was $150 million, or 20 cents a share, compared with net income of $5.4 million, or 1 cent a share, in the year-earlier period. Sales fell 4% to $2.42 billion. Excluding restructuring charges, Starbucks said it earned 24 cents a share. Analysts had forecast Starbucks to earn 21 cents a share on sales of $2.4 billion, according to FactSet Research. Same-store sales fell 1% during the quarter, compared with a 5% decline in the June-ended quarter and an 8% decline for the March-ended quarter. For fiscal 2010, the company increased its earnings growth target, excluding charges. Starbucks shares closed at $19.70 ahead of the report.

  4. Citigroup Inc. said late Thursday that its Primerica Inc. unit has filed plans for an IPO, the latest step in a break-up of the struggling financial giant. Primerica has roughly 100,000 licensed sales representatives who sell term life insurance, underwritten by the company, as well as mutual funds, variable annuities, loans and other financial products, Citi explained. “Today’s announcement represents an important step in simplifying our organization,” said Michael Corbat, chief executive of Citi Holdings, which houses Citigroup’s non-core businesses. “This is the best separation alternative for this franchise.”

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)








1   Hwa Hong





Entered, Current Price at 0.52
2 UOBH United Overseas Bank 17.72 17.4 18.04  

Stock Prices last updated at 9:47 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  2. City Development – Buy at 10.50, Stop Loss at 9.55
  3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  4. Ezra – Buy at 2.08, Stop Loss at 1.66