Singapore Stock Market Updates On 17/06/10

Morning Highlights

Singapore market opened flat, with STI at 2848.46. Nonetheless, we expected market to turn choppy. Many investors are waiting to see how Chinese stocks perform later in the day, as markets there come online after a three-day holiday.

Lookout for Economic News Release For Today:

1. Singapore May’s Non-oil Domestic Exports (The number is expected to slow from the previous quarter’s 29.4%. A Bloomberg survey of 9 economists expect May’s figure to be 25.1%.)
2. U.S. May’s CPI numbers

Corporate Announcements:

1. Yanlord and Ho Bee jointly acquired a high-end residential site with a gross floor area of 387,597 square meter in Tangshan.

News Updates:

1. FedEx cautions on fiscal-2011 profit growth, citing pensions, health care and maintenance.
2. Fannie and Freddie to delist common, preferred stocks as per conservator’s directive.
3. U.S. housing starts down 10% in May, return to December levels; building permits fall 5.9%.
4. U.S. stocks cede portion of Tuesday gains as Nokia, FedEx and BP shares weighed.
5. N.Y. Times says BP to put $20 billion in escrow.
6. BP cancels first-quarter dividend, suspends second- and third-quarter payouts.
7. U.S. stocks end mixed in volatile session, with Dow up 5 points; BP news dominates day.
8. Oil rose to a six-week high after gasoline surged on a report that U.S. refineries cut operating rates and supplies of the motor fuel fell. Refineries operated at 87.9% of capacity, down 1.2 percentage points from the week before. Gasoline supplies fell 636,000 barrels to 218.3 million, the Energy Department said.

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)

Stock Prices last updated at 9:05 (Singapore Time)