Morning Highlights
STI gapped up 12.29 points to open at 3032.03 on overnight Dow gains. As Dow is up 103.69 points, we are looking into selling our existing positions and will try not to enter new positions even if there are breakouts in early trades.
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China Minzhong open at 1.20 (on IPO price)
Next, traders will be watching closely to the China data due today to set their views on any potential tightening by the government and the potential moves on the yuan policy.
Corporate Announcements
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Keppel O&M has agreed to invest US$50 million to acquire the Estaleiro TWB shipyard in Navegantes, Santa Catarina, from Brazil’s TWB Group yesterday.
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Yangzijiang has requested for a trading halt for today starting at 9.00 a.m.
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Sembcorp Marine’s unit, Jurong Shipyard is planning the sale of a harsh environment CJ70 jackup drilling rig to Seadrill Ltd.
News Updates:
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U.S. Feb business inventories increased 0.5% to US$1.33 trillion, the largest and highest increase since July 2008.
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U.S. stocks open higher; S&P 500 above 1,200 level for first time since September 2008. Dow industrials up 100 points; financials, tech fuel advance
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Investment banking drives J.P. Morgan Chase to $3.3 billion first-quarter profit.
News To be Released Today:
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U.S. March industrial production figures
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China’s 1Q10 GDP, March Consumer Price Index (an indication of inflation or asset price increases), retail sales (indication of consumer spending which drives GDP) and industrial production (indication of how much goods are being produced)
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)
Name |
Entry |
SL |
TSL |
TP |
Remarks |
||
1 | KLAN | Keppel Land Ltd | 3.85 | 3.69 | 4.01 | ||
2 | SARI | Sarin Technologies Ltd | 0.76 | 0.695 | 0.825 | ||
3 | SOGL | Sound Global | 1.05 | 0.96 | 1.14 | ||
4 | HPPS | Hotel Properties Ltd | 2.41 | 2.28 | 2.54 | ||
5 | STRL | Straits Asia Resources Ltd | 2.38 | 2.27 | 2.49 | ||
6 | JAYA | Jaya Holdings | 0.815 | 0.77 | 0.86 | ||
7 | LOHO | Longcheer Holdings Ltd | 0.785 | 0.73 | 0.84 | ||
8 | QAFS | QAF Ltd | 0.765 | 0.695 | 0.835 | ||
9 | CNAO | China Aviation Oil Singapore Corp | 1.56 | 1.46 | 1.60 | 1.66 | Overnight, Current Price at 1.63 (bought at 1.61 as share moved too fast) |
10 | WLIL | Wilmar International Ltd | 7.03 | 6.83 | 7.23 | Overnight, Current Price at 7.04 | |
11 | NEPS | Neptune Orient Lines Ltd | 2.31 | 2.23 | 2.39 | Overnight, Current Price at 2.34 |
Stock Prices last updated at 9.10 (Singapore Time)