Morning Highlights
The STI opens flat at 2772.03.
Genting Singapore saw its lowest close yesterday since August 28, plunging 6.9% dod to $0.950. This is the third consecutive day the stock has fallen, taking its losses in the last three days to 12%. Though there is a buy opportunity based on the setups formed, we suggest to trade with small risk if it triggers.
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To Buy Genting Singapore at 0.94, Stop Loss at 0.895 and Take Profit at 0.985 (Small Risk)
News Updates
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The Federal Reserve Thursday announced a surprise hike in the interest rate it charges banks for emergency loans, increasing the so-called discount rate by 25 basis points to 0.75% and would take effect on Friday, February 19th.
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U.S. stocks rose, capping the market’s biggest three-day rally since November, as reports bolstering confidence in the economic recovery overshadowed disappointing sales at Wal-Mart Stores Inc.
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Wal-Mart, the world’s biggest retailer, slumped 1.1% as price cuts triggered a bigger-than-projected drop in comparable-store sales.
