Singapore Stock Market Updates ON 10/08/10

Morning Highlights

Index opened at 3004.24, lifted by Wall Street’s overnight rise. However, it failed to sustain and dropped below 3000. Investors are trading cautious ahead of U.S rate decision which will be announced tomorrow.

• Wilmar broke 6.46
• PEC broke 0.89

Corporate Announcements:

1. Keppel announced that it is on track to deliver the fourth of seven ENSCO 8500 Series semisubmersible drilling rigs being built exclusively for Enso plc.

News Updates:

1. Jobless rate at 9.5% as U.S. economy sheds 131,000 jobs; private sector adds 71,000 jobs.
2. Dow industrials finish higher; H-P is index’s biggest laggard, down 8%
3. U.S. stocks close off Friday’s lows; S&P leads weekly gains with 1.8% advance.
4. H-P CEO Hurd resigns following sexual-harassment probe; H-P’s late-traded shares tumble 10% in wake of CEO resignation.
5. Growth in McDonald’s sales accelerates: Global comparable sales up 7% in July.
6. KKR shelves planned $500 million public offering, citing adverse market conditions.
7. Ambac shares down 20% in late trading following quarterly results.
8. China’s property prices continue to slow in July.
9. China’s trade surplus in July widen to $28.7 billion from June’s $20.02 billion, outpacing consensus forecasts by a third, as exports surge to a record for the month.  
10. The Bank of Japan voted unanimously to leave its policy interest rate unchanged Tuesday, as widely expected, while also keeping its economic outlook steady and announcing no new major monetary easing moves.

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 12:05 (Singapore Time)