Morning Highlights

Singapore market trades higher, with STI up 13.61 points to open at 2985.60. Bank stocks kick off running this morning, with DBS up 42 cents, UOB up 28 cents and OCBC up 7 cents…

  • Singapore’s Ministry of Trade and Industry has upgraded the GDP growth forecast for 2010 to 7.0 to 9.0% from 4.5 to 6.5% in view of the exceptionally strong growth in the first quarter and the overall improved outlook for external economies for the year.
  • NOL broke high of 2.24 (new trade opportunity, refer to Quick Pick 10)

Corporate Announcements

  1. CapitaMall Asia reported 1Q10 PATMI of S$96.8 million, in its first quarterly results since its listing on 25 November 2009. Revenue under management was S$452.9 million for 1Q 2010, 39% higher than the S$326.3 million for 1Q 2009.
  2. Noble announced the start up of its new Oilseed Processing Complex, signifying its continued investment and expansion in Argentina. The complex, built adjacent to the Timbúes Port Grain Terminal, also establishes Noble’s first South American oilseed processing facility.

 News Updates:

  1. U.S. trade deficit widens to $39.7 billion for February, exceeding consensus.
  2. Dow Industrials turn positive, capping intraday comeback of nearly 70 points.
  3. U.S. Consumer Confidence rebounded in April after hitting in March its lowest level in a year, boosted by stock market gains and modest job market improvement, a research group said on Tuesday.
  4. Intel profit nearly triples; shares rise in late trading.
  5. U.S. March Advance Retail Sales and CPI will be released today to assess the Feb’s next move on interest rates.

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 Triggered, Current Price at 7.03
2 KLAN Keppel Land Ltd 3.85 3.69 4.01  
3 UTES United Engineers Ltd 2.61 2.50 2.72
4 SARI Sarin 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 HPPS Hotel Properties Ltd 2.41 2.28   2.54  
8 CNAO China Aviation Oil Singapore Corp 1.56 1.46 1.60 1.66 Triggered, Current Price at 1.62
(bought at 1.61 as share moved too fast)
9 QAFS QAF Ltd 0.765 0.695   0.835  
9 NEPS Neptune Orient Lines Ltd 2.31 2.23   2.39 Triggered, Current Price at 2.30

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

The long awaited moment is finally here, index has successfully broke through the psychological barrier of 3000. So far, index is still holding well above the level…

News Updates:

  1. Ayala Land eyes US$300 million Reit listing.
  2. European shares rise for the first time in three sessions on Wednesday, with the technology sector buoyed by earnings from U.S. and European companies.
  3. China’s Foreign Direct Investment rose 7.7% yoy in the first quarter of this year, said the Commerce Ministry. In March alone, China attracted $9.42 billion in FDI, an increase of about 12% over the previous year.

In Summary,

Index up 48.14 points to close at 3019.74, with 2.5555 billion traded. With blue chips stocks from across various sectors moving up after the previous session’s losses, our focus for now has shifted to Blue Chips.

There is good action coming from the 3 bank stocks.

  1. UOB has been consolidating for the past few days, and finally, there is a breakout with good volume. It broke previous high of 20.60. We will like to wait for the share to pullback before re-entering this counter.
  2. Similar case for DBS. After a period of consolidation, it finally broke out, approaching close to previous high of 15.80. 
  3. OCBC has cleared previous high of 9.14, currently waiting for a pullback to find opportunity to re-enter this counter.

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