Morning Highlights

Our Focus For Today Is Still On Bank Stocks.

It was a positive start to the week as the STI shot up 2.1% dod to break a new record close for 2009 at 2,783.9 (66-week high). Several stocks from different sectors hit new yearly highs in yesterday’s charge as they marched to the tune of the regional rally.

Today, STI has went flat at open and started coming down slightly, off 6 points from yesterday’s close. Let’s observe further on market performance.

  • China Farm broke high of 0.29, to wait for setups
  • China Essence increased in price range and volume. Currently we are waiting for setups. There is resistance seen at 0.315.
  • Olam pays A$160 million for almond orchards, water rights

Corporate Announcements

  • Capitaland will be on trading halt this morning. In an earlier announcement, the company announced that it has injected $0.8bn of the net proceeds from its rights issue into CapitaMalls Asia.
  • Keppel Corp has been awarded a bonus of $640,000 for delivering the KFELS B Class jackup rig, PV Drilling III, early to PetroVietnam Drilling & Well Services Corp.
  • First Resources announced a 3Q09 net profit of Rp 262.4bn, an increase of 38.6% year-on-year.

Dividend Paid Dates

  • Fri 4 Dec 09: DBS (net interim dividend per share of $0.14)
  • Thur 14 Jan 10: SingTel (net interim dividend per share off S$0.062)

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 STEG ST Engineering 3.08 2.94 3.03 3.18 Overnight, Current Price at 3.12 
2 OCBC Oversea-Chinese Banking Corp 8.19
8.32
8.03 18.19 8.61 Triggered – Current Price at 8.43
3 UOBH United Overseas Bank 19.00
19.38
18.66 19 20.1 Triggered, Current Price at 19.80
4 DBSM DBS Group 14.30
14.48
13.96 14.24 15.00 Triggered – Current Price at 14.70
5 NOBG Noble Group 2.86 2.72 3.00 Triggered – Current Price at 2.87
6 ANTE Anwell Technologies Ltd 0.73 0.67 0.79
7 TRAN Transpac Industrial 1.84 1.75 1.93 stock giving 40c dividend, ex date on 8 Dec

Stock Prices last updated at 9.26 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  2. City Development – Buy at 10.50, Stop Loss at 9.55
  3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  4. Ezra – Buy at 2.08, Stop Loss at 1.66 

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