Morning Highlights

Singapore market started firm on cue of gains in Wall Street overnight. The STI up 11.69 points to open at 2873.98.

U.S. stocks rose for a second day on data showing US wholesale inventories fell unexpectedly in January and improvement in corporate bond markets added to signs of economy strengthening, overshadowing concern that China will raise interest rates… Financial shares in the S&P’s 500 Index climbed for a ninth straight day, the longest streak in 12 years. Equities trimmed gains in afternoon trading amid growing concern China may need to increase borrowing costs to combat inflation.

Corporate Announcements

  1. Tiger Airways announced yesterday continued strong growth across both its Singapore and Australian operations in February 2010 with passenger volume increasing by 90% Year-on-Year. The average network-wide load factor also increased, with 85% of all available seats being sold, an increase of 6 percentage points over February 2009’s load factor of 79%.

News Updates:

  1. US Senate passes US$149b for jobless aid, tax breaks.
  2. Geithner urges reform on housing finance market.
  3. A pair of reports published Wednesday pointed to Yahoo Inc.’s weakening grasp on its share of the U.S. Internet search market and significant gains by deep-pocketed Microsoft Corp…. (MarketWatch)
  4. China will release key February macro data at 10:00 a.m today, including their CPI, Industrial Production and Retail Sales numbers

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 GPAK Goodpack Ltd 1.58 1.46   1.70  
2 SIAE SIA Engineering Co Ltd 3.72 3.55 3.89
3 ARAM ARA Asset Management 1.17 1.1 1.24
4 SCOF Super Coffeemix 0.755 0.67 0.84
5 HWHS Hwa Hong Corp 0.61 0.575 0.645  
6 PARM Parkway Holdings 3.06 2.97   3.15 Entered at 3.09, Current Price at 3.12
7 HBEE HO Bee Investments 1.86 1.75 1.97  
8 CSES CSE Global 0.975 0.935   1.02  
9 TAHL.SI Tiger Airway 1.73 1.68 1.78 Not Entered as mkt is doing pullback(Small Risk)
10 GAGR Golden Agri Resources 0.595 0.565 0.625 Overnight, Current Price at 0.58 (Small Risk)

Stock Prices last updated at 17.05 (Singapore Time)

In Summary,

Most of the stocks staged a rally upwards from 15:50 onwards. Eventually, index closed up 11.62 points to 2873.91, with 1.4707 billion traded.

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