Morning Highlights

Singapore Market is cheered by Wall Street’s late session rally, with STI up slightly by 4.51 points to 2953.12. However, market seems unstable at the moment, and likely to turn choppy. We advise to be cautious or avoid taking new trades.

Likewise, Japanese equities looked set to extend their losing streak, as morning gains evaporated in the face of a rising yen.

  • Capitaland broke 3.84
  • Genting broke 1.21

Watch out for Economic News Release Today:

  1. Coca-Cola, Morgan Stanley and Wells Fargo 2Q10 earnings (GOLDMAN Sachs Group reported second-quarter profit dropped 82%, coming in well short of analysts’ estimates, five days after settling US regulators’ fraud allegations.)

Corporate Announcements:

  1. Keppel Land announced 20.3% growth 2Q10 net profit to S$70 million.
  2. Midas clinched two contracts worth RMB130mn to supply aluminium alloy extrusion profiles for a total of 480 train cars.
  3. DBShas set up a wholly foreign-owned entity, DBS Investment & Financial Advisory Co., Ltd. The entity will provide corporate finance advisory services to enable DBS Bank to build onshore financial advisory origination and execution capabilities in China.
  4. Yanlordset up a new subsidiary in Nanjing China, Nanjing Yanlord Garden Co., Ltd

News Updates:

  1. Johnson & Johnson trims 2010 profit outlook to reflect recalls, currency exchange
  2. Goldman Sachs’ quarterly net profit drops; U.K. bank payroll tax, SEC settlement take toll
  3. U.S. housing starts drop 5% to an eight-month low
  4. Bank of Canada lifts target interest rate; Canadian dollar weakens
  5. U.S. stocks open lower; Dow down triple digits; TI, IBM pace tech decliners.
  6. Federal Reserve Chairman Ben Bernanke will present his semi-annual testimony to Congress this week.
  7. Yahoo posts higher profit; display advertising sales up 19%
  8. BP selling $7 billion in oil and gas assets to Apache
  9. Apple earnings soar on demand for iPhone and iPad; shares rise 3% in after hours.
  10. Microsoft Corp will sell its new Kinect motion-sensing gaming system for about US$150 and also offer it in a package with the Xbox 360 videogame console when sales of the hands-free device start in November, the company said on Tuesday.

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 HKLD Hong Kong Land 5.31 5.13 5.49  
2 FRKN:SP Frencken Group Ltd 0.38 0.32 0.44  
3 ISDN ISDN Holdings 0.35 0.28 0.42 Not Entered!
4 SVC:SP SunVic Chemical Holdings Ltd 0.35 0.315 0.385 LOSS – CLOSED at 0.33

Stock Prices last updated at 12:43 (Singapore Time)

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