Singapore Stock Market Updates On 10/12/10

There Are No Quick Picks For Today!

Singapore market traded lower, with STI down 23.31 points to 3186.89. Many investors took to the sidelines after robust China trade data heightened concerns of an imminent rate hike from Beijing. 

• Shangri-la plans US$605 million rights shares to settle loans

Watch Out For Economic News Today

1. China Exports (Nov) [China’s November trade data on Friday showed imports and exports both hitting records, with the trade surplus narrowing to $22.9 billion from $27.15 billion in October.]

1. Genting signed a commitment letter on the proposed refinancing of S$4.2 billion of facilities received in 2008.
2. Osim submitted an application to offer and list Taiwan Depositary Receipts and may raise S$76 million from the issue.
3. Tiger Airways reported 34% increase in passengers in 12 months to Nov 2010 and expanded fleet by 2 aircraft through lease extension.

News Updates:

1. U.S. applications for jobless benefits decreased to 421,000.
2. Hong Kong’s stock exchange said on Friday that locally listed China companies will be able to report their accounts using Chinese accounting standards from Dec 15.
3. China is set to release inflation data on Saturday and markets have continued to speculate about the prospect of a rate hike late on Friday or over the weekend.

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.

Our Mid Terms Holdings : Bullish Stocks (Singapore)

Stock Prices last updated at 14:00 (Singapore Time)