Morning Highlights

Our Focus For Today Is On Offshore and China Sector

Singapore market opens slightly higher at 2979.21. The other Asian stock markets were mixed, broadly in line with Wall Street’s tepid finish…

  •  Indofood Agri broke high of 2.37
  •  UOL broke high of 4.02
  •  Sound Global broke high of 1.02
  •  Midas broke high of 1.11 

Corporate Announcements

  1. Noble announced yesterday morning a $12.60 per share all cash offer for Gloucester for the remaining shares Noble does not already own

 News Updates:

  1. U.S. Stocks open broadly lower as markets await FOMC Minutes.
  2. Fed minutes: Pledge of low rates for “extended period” contingent on economy, not calendar
  3. Indonesia rocked by 7.8 magnitude earthquake; tsunami alert issued.
  4. China Construction Bank Corp. (0939.HK), the country’s second-largest bank by assets, plans to raise around CNY75 billion (US$11 billion) by listing additional shares in Shanghai and Hong Kong, Bloomberg News reported Tuesday.

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 UOBH United Overseas Bank 19.86 19.46 20.26  
2 KLAN Keppel Land Ltd 3.77 3.66 3.88
3 HKLD Hong Kong Land 5.17 5.02 5.32 Broke Out but not entered. Observing
4 HNGX Hengxin Technology Ltd 0.525 0.425 0.625  
5 OSIL OSIM International Ltd 0.93 0.88 0.98
6 MAPL Mapletree Logistics Trust 0.885 0.835 0.935
7 CXLX China XLX-Fertiliser Ltd 0.655 0.60 0.71
8 ZOBE Z-Obee Holdings 0.565 0.515 0.615
9 KPLM Keppel Corp Ltd 9.61 9.43 9.79
10 FRNM Fraser & Neave Ltd 5.11 4.95 5.27
11 NEPS Neptune Orient Lines Ltd 2.25 2.13 2.37  
12 EZRA Ezra Holdings Ltd 2.54 2.48 2.60  
13 TAHL Tiger Airways 1.86 1.77 1.95 Overnight, Current Price at 1.80
15 GPAK Goodpack Ltd 1.80 1.70 1.90 Overnight, Current Price at 1.80

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index is holding on to its early gains…

  • New Trade Opportunity with Indofood Agri, to BUY at 2.43, Stop Loss at 2.36, Target Profit Level at 2.50
  • New Trade Opportunity with City Development, to BUY at 11.20, Stop Loss at 11.00, Target Profit Level at 11.40 – Triggered, Current Price at 11.40

News Updates:

  1. The Federal Trade Commission may be preparing to launch an antitrust challenge of Google Inc.’s planned acquisition of mobile-advertising firm AdMob, according to a Wall Street Journal report Tuesday.
  2. Bank of Japan maintained its key interest rate steady at 0.1% and withheld unveiling further support measures to tackle deflation

In Summary,

Index up modestly 12.59 points to close at 2988.10, on high volume of 3.0683 billion traded today.

We are still holding our position for City Development even though it is now trading at our Initial Target Profit Level Price. We will observe further tomorrow to decide on the exit.

JsG4RQCklsQ