Market Updates

Singapore Market opened higher this morning after gains on Wall Street overnight. STI rose 16.3 points to open at 2905.48. Other Asian share markets were mostly higher, with banks and materials stocks supporting the Australian market.

  • Singapore’s CPI in February was 1.0% higher year-on-year, reflecting mainly higher costs of transport, food and education and stationery. 
  • Wee Hur wins $103.6 million Jurong entertainment centre deal.

Index is currently trading below 2900…

News Updates:

  1. The Malaysia should see increased foreign direct investment this year after the government implements administrative reforms, the country’s Prime Minister Najib Razak said.
  2. US President Barack Obama savoured a slice of history yesterday by pushing his US$940 billion healthcare bill through the House of Representatives.
  3. U,S stock benchmarks move lower, but health-care sector gains in wake of House vote.
  4. Google has stopped censoring search results in China.
  5. Bank reform legislation clears Senate committee on party-line vote.
  6. China Telecom, the country’s largest fixed-line operator by subscribers, rose 6.5% after reporting a huge jump in fiscal year net profit to CNY14.42 billion (US$2.11 billion), from CNY884 million a year earlier, when the company booked a CNY24.17 billion impairment loss on property, plants and equipment mainly associated with the handyphone business.
  7. Bank of China’s H-shares in Hong Kong were up 2.5% as investors awaited the release of its 2009 full year results due later in the day.

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 IFAR Indofood Agri Resources 2.38 2.16   2.60  
2 GAGR Golden Agri Resources 0.605 0.55 0.66  
3 WTHS Wing Tai Holdings 1.92 1.81 2.03
4 PWAY Parkway 3.26 3.05 3.47 Triggered, Current Price at 3.25
5 GUCL Goucoleisure 0.71 0.655 0.765  
6 UOBH United Overseas Bank 19.70 19.06 20.34
7 SGXL Singapore Exchange Ltd 8.11 7.83 8.39
8 STEL Singapore Telecommunications 3.26 3.16 3.36
9 OLAM Olam International 2.67 2.66 2.68
10 GPAK Goodpack Ltd 1.73 1.62 1.84
11 CSES CSE Global Ltd 1.01 0.96 1.06
12 DBSM DBS Group Holdings 14.70 14.32 15.08  

Stock Prices last updated at 15.43 (Singapore Time)

In Summary,

Despite market broke 2900 after 15:00, index quickly recovered back above 2900. DBS is so far the strongest bank stock for the moment, do lookout for breakout at 14.68.

  • Z-Obee broke 0.41
  • Shares that is worth the watch for mid term trading is Keppel Corp  (To buy at 9.27, Stop Loss at 8.91)

Index eventually ended the day, up 16.48 points at 2905.66, with 1.3449 billion traded.  Financial Stocks that are on our list are UOB and DBS.

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