Morning Highlights

Our Focus For Today Is On Mid Caps, Oil & Gas, China and Healthcare Sector

STI rises 8.9 points to open at 2806.11.

  • Asia Travel broke high of 0.71, to wait for setups
  • CMA added into MSCI Indices today

Most of the Asian shares were higher Thursday as investors cautiously moved into riskier assets. But gains were mild with risk aversion still evident as buyers held back after Greece and Spain were hit by negative ratings news in the past two days. In Japan, the market inched higher despite renewed strength in the yen. In Australia, banking stocks were higher. New Zealand shares were trading slightly higher with the Reserve Bank Of New Zealand’s rate decision and statement having little effect on stock trading.

News Updates:

  1. US Treasury extends TARP program through Oct. 2010‏
  2. Britain to impose 50% tax on banker bonuses above 25,000 pounds
  3. Gold futures fall for fourth straight session, closing at one-month low‏
  4. U.S equity markets rebounded from the previous night’s fall, shrugging off S&P’s reduction in Spain’s credit outlook to “negative”. S&P said Spain will experience a “more prolonged period of economic weakness” than anticipated at the start of 2009. The downgrade in Spain’s outlook came after Fitch Ratings downgraded Greece’s credit the night before.

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 FORT Fortune REIT 2.98 2.84 3.12
2 PEC 0.725 0.685 0.765
3 UIC United Industrial Corporation 2.24 2.06 2.42
4 WPSL Wheelock Properties 1.92 1.83 2.01
5 PSLL PSL Holdings 0.29 0.225 0.325  
6 EZRA Ezra Holdings 2.27 2.17 2.37  
7 FCL Frasers Centrepoint 1.34 1.27 1.41 Liquidity Issue
8 MIIF Macquarie International Infrastructure Fund 0.48 0.435 0.525  
9 IFAR Indofood Agri Resources 2.17 2.07 2.27  
10 PARM Parkway Holdings 2.96 2.79 2.89 3.13 Triggered, Current Price at 2.92
11 EPIL Epure International 0.70 0.65 0.68 0.75 Triggered, Current Price at 0.69

Stock Prices last updated at 9.59 (Singapore Time)

Here’s Our Mid Term Holding Opportunities:

  1. OLAM – Buy at 2.88, Stop Loss at 2.42

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