Morning Highlights

Our Focus For Today Is Still On China Sector

Index gapped down at open, with STI down 14.85 points to 2962.32. The drop could be dragged by weak performance from Nikkei.

Corporate Announcements

  1. Ezra has a new wholly-owned subsidiary company, Mcallister Enterprises (incorporated in the British Virgin Islands) through acquisition of the entire issued and paid-up capital.

  2. COSCO’s subsidiary, COSCO (Guandong) Shipyard had made effective on 31 March 10 two shipbuilding contracts awarded by an Asian shipowner for the building of two units of bulk carriers of 57,000 dwt each.

  3. Chinese shipbuilder Yangzijiang announced on the SGX yesterday that it was in preliminary talks to do Dual Listing on the Hong Kong Stock Exchange and/or a listing of Taiwan Depository Receipts on the Taiwan Stock Exchange

 News Updates:

  1. China will ‘firmly stick’ to its own path for yuan reform, President Hu Jintao said in a meeting with US President Barack Obama, emphasising that Beijing would not be pushed by external pressure.
  2. Dow industrials reclaim 11,000 level as U.S. stocks move tentatively upward‏; Dow closes above 11,000 for first time since September 2008
  3. Alcoa narrows quarterly loss on higher aluminum prices‏‏

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 WLIL Wilmar International Ltd 7.03 6.83 7.23
2 KLAN Keppel Land Ltd 3.85 3.71 3.99  
3 HTLT HTL International Holdings Ltd 0.92 0.845 0.995
4 SARI Sari Technologies Ltd 0.76 0.695 0.825  
5 CHHL Chasen Holdings 0.63 0.415 ` 0.845
6 SOGL Sound Global 1.05 0.96 1.14  
7 UPPS UPP 0.235 0.18 0.29 LOSS – CLOSED at 0.23

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Despite positive cues from Wall Street, Singapore market displays choppy ride today. Nonetheless, index is still holding good at 2950.

  1. Globe says plans to raise US$100-US$150 million.
  2. Infosys sees 2010/11 sales rising 16-18%.
  3. Asia’s developing economies are likely to grow 7.5% this year, accelerating sharply from the 5.2% growth in 2009, the Asian Development Bank said on Tuesday.
  4. Honda Motor Co. said Tuesday it will begin leasing its new EV-neo electric motorcycle to business customers in Japan from December.

In Summary,

Index close down 5.57 points at 2971.60, with 2.0172 billion. Index is likely to consolidate since most of the blue chips are consolidating now. Hence, we suggest to lookout for Mid cap, Small Cap and China Sector.

 

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