Morning Highlights
There Are No Quick Picks For Today
The STI opens up at 2772.21. Our last week position on:
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Genting Singapore bought at 0.94, Stop Loss at 0.895 and Take Profit at 0.985 (Small Risk) – Overnight, still queuing to sell at 0.985
Next, MAS imposed restriction to cool property market. 1% levies on first 180,000, 2% on the next 180,000 and 3% on remaining on seller. As such, property sector might face selling pressure. Our current stand for Property Sector: weak
There are some blue chips share worth watching.
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F&N has recovered from recent selldown; from as low as 3.71 to current price at 4.08. Lookout for the high at 4.18. Once the stock breakout at its high, we will then consider whether if is suitable to open long position.
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Noble is having the same chart pattern, watch out for price at 3.09
As for the banks shares, OCBC is the strongest, followed by UOB and then DBS.
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OCBC : lookout for 8.67
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UOB : lookout for 18.80
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DBS is in sideway consolidations
News Updates
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Japan’s Nikkei Average gains 2.7% in early trading, with weak yen boosting exporters such after investors took the Federal Reserve’s discount rate hike as a sign the financial system is healing.
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Schlumberger agreed to buy Smith International in US$11.3 billion deal.