Morning Highlights

Singapore market kicked off the week on a positive note with the key Straits Times Index up 15.07 points at 2698.63 during early moves.  

  • China Hu An Cable opened 0.405, below IPO price of 0.42
  • Genting Singapore halts trade, pending announcement

Here are Data Release Dates for the week:

  1. The IBD/TIPP Economic Optimism and U.S. December’s Wholesale Inventories on Tuesday 09/02/10;  The ABC Consumer Confidence, U.S.’ December Trade Balance numbers and Bloomberg Global Confidence on Wednesday 10/02/10. The final confidence index will be released by University of Michigan on Thursday 11/02/10. Advance Retail Sales for January and Initial Jobless Claims over the last week will also be out on Thursday.
  2. China NDRC Property Price Index available from Wednesday10th February 10 to Friday12/02/10. January’s Producer Price Index, Consumer Price Index and Purchasing Price Index on Thursday 11/02/10.
  3. Japan’s January Domestic CGPI and December’s Machine Orders released on Wednesday 10/02/10.

News Updates

  1. US  economy loses 20,000 nonfarm jobs in January; 9.7% jobless rate is lowest since August‏‏.
  2. The Dow erased a 167 point drop in the final hour of trading on speculation the European Union may propose a solution for Greece’s budget deficit. Oil and gold both rebounded in the last hour of trading, and the dollar pared its gains.
  3. Crude futures skid nearly 5% to trade below $70 a barrel‏. 

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. 

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 HSEN Hiap Seng Engineering 0.57 0.64 0.50  
2 OCBC Oversea-Chinese Banking 8.07 8.44 7.7
3 IFAR Indofood Agri Resources 1.91 2.12 1.70
4 HPPS Hotel Properties 1.97 2.09 1.85

Stock Prices last updated at 9.25 (Singapore Time)

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