Singapore Stock Market Updates On 07/01/2010

Morning Highlights

Our Focus For Today Is On Property, Oil & Gas And Commodity Sector

Singapore market firmed up in opening trade today with STI advancing 13.16 points to 2943.65. UOB spiked up during the first hour of trading but is unable to hold on to gains and starts pulling back. Nonetheless, the stock broke high of 20.08.

• Keppel Corp broke high of 8.54, next resistance at 8.70
• NOL broke high of 1.81 next resistance at 1.98

The property sector has started to soften. Index is also facing a pullback. As of now ,the stronger sector seems to be the Financial Sector where most of the financial shares are able to trade strong.

Singapore News Updates:

1. The Singapore Exchange (SGX) is proposing allowing the listing of cash companies, alongside a broadening of its mainboard admission criteria – in what market observers believe is an attempt to secure more listings at a difficult time. (Business Times)
2. UOB entered into a Sale and Purchase Agreement yesterday with Prudential Singapore Holdings Pte. Limited for the sale of all the interests in UOB Life Assurance Limited for a total of S$428mn in cash. The sale is expected to complete on January 31.
3. SembCorp Marine has upsized its current multicurrency, multi-issuer debt issuance programme from S$500mn to S$2bn.

News Updates:

1. Japan shares mixed; shipping stocks up whereas JAL open down 8.3% on bankruptcy fears. JAL debt-reduction target reported at 7.9 billion.

2. Samsung Electronics Q4 estimate swing to Q4 operating profit, with sales rising about 18% to a record high, outlook bright.

3. Jetstar & AirAsia resource tie-up announced. (e-Travel Blackboard)

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)

Here’s Our Mid Term Holding Opportunities:

Stock Prices last updated at 10:02 (Singapore Time)