Morning Highlights

Singapore Stocks jumped early Wednesday as trading resumed after the Chinese New Year holiday, with a strong overnight show on Wall Street on the back of strong manufacturing data and easing concerns about Greece’s debt crisis. STI gapped up 34.35 points to open at 2793.25.

Other Asian markets were also higher with Hang Seng Index gained 1.9% to 20,656.80 and Japanese shares surged 2.10%; with a rise in commodities and metals prices lifting the resources sector.

Markets in China, Taiwan and Vietnam remain closed.

  • Osim broke high of 0.665
  • Macquaire Infra Structure Fund broke high of 0.525

News Updates

  1. U.S. stocks rallied (in banks and energy) the most since Nov. as New York manufacturing grew at the fastest pace in four months and Barclays Plc’s earnings topped estimates, signalling the global economic recovery is accelerating. Dow’s up 170 points.‏
  2. U.S. Steel Corp. and Chevron Corp. advanced at least 2.8% as commodity prices jumped. Bank of America Corp. and Citigroup Inc. climbed after earnings at Barclays, the U.K.’s second-largest bank, were boosted by investment banking and the sale of a fund-management unit. Merck & Co. rose 2% after fourth-quarter profit increased more than analysts estimated. General Growth Properties Inc., the second-largest U.S. mall owner, jumped 28% on a takeover offer (Bloomberg). 
  3. Consumer sentiment falls in February as Americans grow more pessimistic about economy‏.
  4. Japan October-December GDP rises 1.1% from last quarter, roughly in line with expectations‏

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 China Hu An Cable 0.425 0.395 0.455 Overnight – Current Price at 0.44

Stock Prices last updated at 10.28 (Singapore Time)

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