Morning Highlights

The STI opened higher again today at 2718.01 However, investors are cautious ahead of a slew of Chinese data. Chinese industrial output, retail sales, fixed asset investment, inflation and trade numbers are among the raft of data due later.

Our Focus For Today Is On Bank Stocks

SIA on Tuesday reported the airline remains in the red for the fiscal 2Q with net loss of S$158.8 million for the three months. However, this was an improvement of $148 million from the 1Q’s net loss of $307 million. (Read SIA’s News Release) (Financial Statements)

Corporate Announcements

  • Indofood: 3QFY09 net profits of Rp 316.5 billion rose 8.2% year-on-year (yoy).
  • Midas: 3QFY09 net profits of S$9.4 million rose 17.4% yoy. Company declared a net interim dividend per share of S$0.0025.
  • SingTel: 2QFY10 net profits of S$956.0 million rose 10.1% yoy. Company declared a net interim dividend per share of S$0.062.
  • Yanlord: 3QFY09 net profits rose to S$91.1 million, compared to S$8.8 million the same period last year.

News Updates

  1. AIG posted its second straight quarterly profit last week. With the government now likely to recoup its investment, it has incentive to continue supporting AIG and its various creditors, Moody’s said. The agency affirmed AIG’s long-term rating of A3, the seventh-highest investment grade, with a negative outlook. (REUTERS)
  2. British bank Lloyds to cut 5,000 jobs by the end of 2010
  3. Ericsson to axe 700 jobs from UK facility, expected to be implemented by the middle of 2010
  4. Vodafone said on Tuesday that net profits soared 125% during its first half, adding that it planned to double annual cost savings to two billion pounds. It had launched a major cost-cutting program in November to reduce costs by 1.0 billion pounds by March 2011. (AFP)

  5. Investor’s Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index slipped to 47.9 in November from 48.7 in October – indicating that the upcoming holiday shopping season could see better consumer spending

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 HWHS Hwa Hong

0.515

0.465

 0.525

0.565

 Overnight, Current Price at 0.58
2 STEG ST Engineering 3.02 2.94 3.10
3 Centraland 0.56 0.52 0.60 KIV as there is no activity on Tue

Stock Prices last updated at 11.10 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  2. City Development – Buy at 10.50, Stop Loss at 9.55
  3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  4. Ezra – Buy at 2.08, Stop Loss at 1.66 
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