Morning Highlights

Our Focus For Today Is On Small Cap, Mid Cap and China Sector 

Singapore stocks started mixed on Friday after a cautious day on Wall Street overnight, with STI down slightly by 7.36 points to open at 2973.33.

  • Baker trading halt (Please note that if this stock hits 0.545, we will sell half of our existing positions and trail the rest at 0.50)
  • Selective Blue Chips are showing strength
  • Lookout for Rickmer (Trading Halt)
  • Sembcorp Industries broke high of 4.34 (New Trade Opportunity, refer to Quick Pick

Next, Japan market also fell in opening trade, with the Nikkei 225 Average fell 0.4% at 10,901.85 and the broader Topix shed 0.3% to 974.88. Hong Kong market opened lower on Friday, extending Thursday’s decline and in line with weaker regional bourses.

New IPO : Global Palm Resources Holdings Limited (Dealing with crude palm oil)
Underwriter : Am Fraser & OCBC
IPO size : 110 million
IPO price : 0.46
Commence Trading : 29th April 2010

Corporate Announcements

  1. Noble Group announced the acquisition of a 25% stake in Terminales Portuarias del Pacifico which has been awarded a tender to develop a multi-commodity terminal facility on the west coast of Mexico.

  2. Keppel Corp’s announced 1Q10 net profit of S$322 million, up 13% year-on-year.

  3. China’s New Century Shipbuilding Ltd. is looking to raise up to US$1.2 billion in an initial public offering in Singapore.

 News Updates:

  1. First-time and continuing jobless claims both drop in latest week, U.S. data show‏. 
  2. U.S. stocks slide 1% or more in early trading amid profit disappointments, Greece jitters‏. But finish higher after late-day turnaround; Dow recovers from triple-digit slide.
  3. U.S. existing-home sales surge 6.8% in March as buyers jump on tax credit‏.
  4. Moody’s downgrades government bond ratings of Greece, leaves open further reduction‏.
  5. Amazon posts sharp jump in first-quarter profit; shares fall late on margin forecast‏.
  6. Obama called on the financial industry to drop its “furious efforts” to fight his regulation plan, saying a failure to impose tougher rules on the market will put the economy at risk. His speech at New York’s Cooper Union college was intended to build momentum for legislation to overhaul U.S. financial regulations and offered no new policy proposals to crack down on the industry. (Bloomberg)  

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 SIAT Singapore Airport Terminal Services Ltd 2.93 2.74 3.12  
2 UTES United Engineers 2.65 2.51 2.79  
3 STAR Starhub Ltd 2.44 2.34 2.54  
4 WPSL Wheelock Properties Ltd 2.13 1.93   2.33  
5 CHEL Chemoil Energy 0.46 0.40   0.52  
6 SANS San Teh Ltd 0.345 0.29   0.40  
7 VENM Venture Corp 9.88 9.66   10.10  
8 COSC Cosco Corp 1.88 1.74   2.02  
9 CNAO China Aviation Oil Singapore Corp 1.83 1.72 1.94  
10 KSTL KS Energy Services Ltd 1.46 1.32 1.60
11 CMFC China Minzhong 1.24 1.10 1.38 CANCELLED
12 BATE Baker Technology 0.525 0.46 0.545 0.59 Overnight, Current Price at 0.565 
(Trading Halt)
13 ZOBE Z-Obee Holdings 0.595 0.555 0.58 0.635 LOSS – CLOSED at 0.585
14 SCOF Super Coffeemix Manufacturing 0.83 0.78 0.82 0.88 Overnight, Current Price at 0.820
15 SCMN Sembcorp Industries Ltd 4.38 4.33   4.43 Triggered, Current Price at 4.44

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index trading lower in the afternoon session, partly due to uncertainty in Europe, amid Greece’s debt problems.

News Updates:

  1. Huan Hsin Holdings, a major supplier of notebook casings, reported on Friday a net profit of S$10.16 million, for the first quarter ended March 31, 2010,  compared to a net loss of S$25.97 million a year ago.
  2. Private home prices up 5.6% in Q1: URA
  3. UIC’s Q1 net profit falls 19% from a year ago to S$59.50 million.
  4. SingLand’s Q1 net profit drops 34% compared to a year ago to S$48.15 million.
  5. China Aviation Oil gets access to US$200 million in trade finance by BOCOM.
  6. The Greek government surrendered to the credit markets Friday, formally requesting the activation of a joint European Union-International Monetary Fund rescue plan … (MarketWatch)

In Summary,

Market was rather flat today, with STI up 7.8 points to 2988.49. Volume was 1.73 billion shares worth $1.41 billion. Gainers led losers 261 to 243

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