Singapore Stock Market Updates On 09/11/10

Singapore stocks opened slightly lower after Wall Street retreated overnight from a two-year high, weighed down by financial stocks and a stronger dollar. STI opened at 3299.50.

Watch Out For Economic News Today

1. U.S IBD/TIPP Economic Optimism (Nov)

1. Keppel Land acquired additional 11.85% stake in Ocean Properties Pte. Ltd. for a cash consideration of S$107.1 million.
2. Wilmar has received the Australian government approval for the takeover of Sucrogen Ltd.
3. NOL reported a 1% year-on-year increase in volume and 29% year-on-year increase in average revenue per FEU for the period from 18 Sep to 15 Oct.

News Updates:

1. Japan’s Nikkei average fell 0.7% as investors locked in profits after the index had advanced to a three-month high the previous day.
2. Japan Sept current account surplus up 24.3% year-on-year
3. Bond insurer Ambac files for bankruptcy.
4. Gold futures rose to a record $1,409.40 an ounce on the Comex in New York, before paring gains to 0.4 percent and settling at $1,403.20, as the euro’s drop spurred investor demand for an alternative to currencies.
5. The Standard & Poor’s 500 Index lost 0.2 percent to 1223.25 after a five-week rally pushed it to the highest valuation since May

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)

Stock Prices last updated at 9:00 (Singapore Time)