Morning Highlights

The STI gapped up to open at 2668.86. 

Our Focus For Today is on Bank Stocks

There are no Quick Picks for today. But we are keeping a close lookout on the bank stocks. The banks are trading strongly. UOB is reaching its resistance at 17.96; DBS has touched its 1st resistance at 13.50, doing slight retracement now; OCBC opens high but coming off, will have to see how it trades further. As of now, UOB seems to be the most potential of all.

On the other hand, property shares are weak. Within the sector, Capitaland’s movement is very sluggish while City Development is moving in a tight range, and same goes for Hong Kong Land. We believe that the property sector is not likely to perform in the coming weeks until there is a substantial increase in the price range for City Development. Capitaland needs to breakthrough high of 4.46 and Hong Kong Land needs to breakthrough high of 4.83.

The investors are now looking for guidance about the US economy this week from data issued not by the government, but by big retailers in the form of 3Q earnings reports.

The financial markets are still trying to get a sense of whether consumers, while worried about unemployment, are nonetheless willing to spend, especially as the holiday season approaches. Retailers’ earnings reports and outlooks for the future should give them clues about the economic recovery. Investors will also get a first look at on consumer sentiment during November. (AP)

Upcoming IPO is Capitamall Asia Ltd, prospectus lodged to wait for further announcement. More details on upcoming IPOs can be viewed here.

News Updates

  1. October jobless rate surprises, up to 10.2%; nonfarm payrolls shed 190,000 jobs‏
  2. Gold for December delivery hits $1,100 an ounce‏

  3. Berkshire Hathaway’s net soars on big turnaround in investments‏

  4. Japan’s foreign reserves rose to a record high for the third straight month in October partly as rising gold prices inflated the value of its gold holdings, the Ministry of Finance said on Monday.

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 HWHS Hwa Hong





Overnight, Current Price at 0.55

Stock Prices last updated at 9:05 (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