Morning Highlights
Our Focus For Today Is Still On Bank Stocks.
The STI opened up 8.72 points at 2773.67 as supported by continued firmness for the US stocks.
After 2 months of upward momentum – up 1.2% in August and 2.9% in September – Singapore’s non oil domestic exports stumbled in October and fell sharply. The drop has caused the STI to back off from its 66-week peak yesterday with profit-taking setting in.
U.S. News Updates
U.S. stocks gained for a third day as a rebound in metal prices boosted commodity producers, overshadowing a smaller-than-forecast increase in industrial production. The Dollar Index rose for the first time in three days and Treasury 30-year bonds climbed for a fourth.
Wal-Mart Stores Inc. and Exxon Mobil Corp. gained at least 0.8% after Warren Buffett disclosed buying their shares. Sprint Nextel Corp rallied for a second day after saying it paid down $1 billion in debt. Caterpillar Inc. and ITT Corp. declined as the Federal Reserve said industrial output was restrained in October by less auto manufacturing and demand for business equipment. (Bloomberg)
- U.S. producer prices rise 0.3% in October; energy and food costs cited
- U.S. factory output edges upward in October
- U.S. residential builders remain downbeat, place some blame on appraisals
- Citi CEO’s annual pay to stay at $1; 2 senior execs get raises
Hershey, Ferrero mull joint offer for Cadbury to trump Kraft bid: WSJ - Home Depot net drops 9% as it sees ‘some positive signs of stabilization’
- Retailer Target’s shares advance 1% after third-quarter revenue and earnings rise
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 | STEG | ST Engineering | 3.08 | 2.94 | 3.05 | 3.18 | Overnight, Current Price at 3.13 |
| 2 | OCBC | Oversea-Chinese Banking Corp | 8.19 8.32 |
8.03 | 18.19 | 8.61 | Overnight – Current Price at 8.47 |
| 3 | UOBH | United Overseas Bank | 19.00 19.38 |
18.66 | 19 | 20.1 | Overnight, Current Price at 19.62 |
| 4 | DBSM | DBS Group | 14.30 14.48 |
13.96 | 14.24 | 15.00 | Overnight – Current Price at 14.62 |
| 5 | ANTE | Anwell Technologies Ltd | 0.73 | 0.67 | 0.79 | ||
| 6 | BIOS | Biosensors International | 0.75 | 0.715 | 0.785 | ||
| 7 | YAZG | Yangzijiang Shipbuilding | 1.19 | 1.12 | 1.26 | ||
| 8 | CEGL | China Essence | 0.32 | 0.25 | 0.39 | china stocks, small risk | |
| 9 | CNGR | CNA Group | 0.435 | 0.40 | 0.47 | china stocks, small risk | |
| 10 | NOBG | Noble Group | 2.90 | 2.75 | 3.05 | watch out when near breakout |
Stock Prices last updated at 9.26 (Singapore Time)
Here’s Our Mid Term Holding Opportunities for property shares.
- Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
- City Development – Buy at 10.50, Stop Loss at 9.55
- Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
- Ezra – Buy at 2.08, Stop Loss at 1.66
