Morning Highlights

Singapore market opened lower after a weak finish on Wall Street, with the STI down 17.85 points to 2970.25.

  •  HTL broke high of 0.865
  •  Broadway broke high of 1.04

Corporate Announcements

  1. Keppel Land announced that Phase 1 of the Marina Bay Financial Centre has been fully leased ahead of completion. 

 News Updates:

  1. U.S. stocks tumbled. A bigger-than-estimated decrease in consumer credit and concern Greece may default also fuelled selling in other stocks. Visa and American Express lost at least 1.7% after the Federal Reserve said consumer borrowing fell by $11.5 billion in February, indicating Americans are reluctant to take on more debt.

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 KLAN Keppel Land Ltd 3.77 3.66 3.88 Broke but not entered.
2 CXLX China XLX-Fertiliser Ltd 0.655 0.60 0.71
3 EZRA Ezra Holdings Ltd 2.54 2.48 2.60  
4 JAYA Jaya Holdings 0.745 0.68 0.81 Broke but not entered. Observing…
5 TAHL Tiger Airways 1.86 1.77 1.95 LOSS – CLOSED at 1.80
6 GPAK Goodpack Ltd 1.80 1.70 1.90 LOSS – CLOSED at 1.78
7 CTDM City Development 11.20 11.00 11.40 PROFIT – CLOSED at 11.46
8 UOBH United Overseas Bank 19.86 19.46 20.26 PROFIT – CLOSED at 19.86

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

We have closed our position for Goodpack. It  seems that trend has paused, and the stock is likely to consolidate for now. 

  • DMX broke high of 0.41 

 News Updates:

  1. Temasek Holdings will invest US$200 million in the power unit of Indian conglomerate GMR Infrastructure, said two sources with knowledge of the situation.
  2. Eastgate Technology said it has entered into a conditional sale and purchase on Thursday to buy Sin Hong Hardware Pte Ltd for S$18 million in cash.
  3. Lian Beng reported its net profit for the 9 months to end February 2010 rose 52% to S$17.39 million. Revenue for the period was up 4.5% at S$240.47 million.
  4. US initial jobless claims rise 18,000.

In Summary,

Singapore shares closed lower with the STI down 24.91 points to 2963.19. Volume was 2.3301 billion traded with Losers led Gainers 299 to 200.

Market is likely to go sideway for the time being. There is a resistance at 3000 and support is seen at 2887.46

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