Singapore Stock Market Updates On 12/03/10

Morning Highlights

Singapore stocks opened slightly easier, with the STI opened at 6.87 points to 2880.78.

CapitaMall Asia broke 2.36

New IPO : Qingmei Group Holding Ltd (China Company that makes high end sport shoes)
Total Issue : 184 million at S$0.31
Underwriters : UOB Kayhian
Commence Trading Date : 17th March 2010

U.S. stocks dipped in early trading after China reported a sharp jump in inflation and mixed U.S. economic news also held the market back. U.S. stocks recovered from earlier drop as financials rally‏.

Corporate Announcements

Fortis Healthcare Ltd, India’s fastest growing healthcare company, said it will buy a 23.9% strategic stake in Parkway Holdings Limited from TPG Capital (formerly Texas Pacific Group) for an estimated US$685.3 million (S$959.4million).
Sembcorp Marine’s subsidiary, Jurong Shipyard, has secured an approximately S$130 million contract to carry out pre-conversion for Petrobras.
COSCO’s subsidiary, COSCO (Dalian) Shipyard has, following the request of a European shipowner, entered into an agreement in relation to the cancellation of the shipbuilding contract for an 80,000 dwt bulk carrier.

News Updates:

New weekly US jobless claims fall for second week; 462,000 initial jobless claims were filed in the week ending March 6, 1.3% below the previous week.
U.S. trade gap narrows unexpectedly, January data show
Dodd plans to unveil Senate financial-reform bill Monday.
Chances of a broad overhaul of US financial regulation dimmed on Thursday after bipartisan Senate talks collapsed, jeopardising a top Obama administration priority and boosting bank share prices.
Figures published by the National Bureau of Statistics showed that China’s Consumer Prices rose 2.7% from a year earlier, more than the 2.5% median estimate of 29 economists surveyed by Bloomberg.
Japan’s Nikkei average rose 1.1% to hit a seven-week high at the open on Friday, boosted by exporters such as Honda Motor after Wall Street rallied on the possibility new banking regulations being studied by US Congress could be watered down.

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	Broke out but not entered.
4	SCOF	Super Coffeemix	0.755	0.67	0.84
5	HWHS	Hwa Hong Corp	0.60	0.57	0.63
6	HBEE	HO Bee Investments	1.86	1.75	1.97
7	CSES	CSE Global	0.975	0.935		1.02
8	WLIL	Wilmar International	6.96	6.70	7.22
9	HKLD	Hong Kong Land	4.98	4.81	5.15
10	IFAR	Indofood Agri Resources	2.38	2.24		2.52
11	QMDT	Q & M Dental Group	0.585	0.53	0.64
12	PARM	Parkway Holdings	3.06	2.97	3.15	Overnight, Entered at 3.09, PROFIT- CLOSED at TP
13	GAGR	Golden Agri Resources	0.595	0.565	0.625	LOSS – CLOSED at SL

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

New Trade opportunity with CapitaMall Asia. To Buy at 2.42, Stop Loss at 2.35 and Target Profit Level at 2.52. (small risk)

In Summary,

Index closed up 7.45 point at 2881.36, with 1.3589 billion traded.

On weekly chart, index rose 91.07 points with 7.1138 billion traded. There is an increase in volume this week as compared to previous week of 6.6181 billion traded. Market has been trending for the past few days. We hope to see market pullback from here, slightly and not deep retracement so that uptrend is still intact… after which, index to challenge the high of 2947.08 created on 11th Jan 2010.

The three financial stocks have shown sign of turning up. First in list is OCBC with trending moving averages, followed by UOB and then DBS. We shall be observing for mid term holding opportunity with the bank stocks.