Market Updates
Due to the bank stocks and other components, index gapped up on good overnight DOW performance, with STI up 11.91 points to open at 2917.57. However, market unable to hold onto gains and start pulling back. The banks are performing weak, leading the STI to drop at 11:30 onwards. The worst performer is Noble Group.
- Macquaire Infrastructure Fund broke 0.55
- Longcheer broke 0.655
Our Focus is on Mid to Small Cap…
New IPO : TTJ Holdings Limited
Offer size : 110 million
Underwriter : CIMB
News Updates:
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Japan’s parliament approved on Wednesday a record US$1 trillion Good performing stock we had is Broadway (small cap), stock manages to break out 0.935 after 1 month consolidation and traded high, close 1budget for the fiscal year from April, with an all-time high of 44.3 trillion yen in new bond issuance underlining the country’s tattered finances.
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Z-Obee to buy 15% stake in tech firm for US$10.8m.
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Japan’s exports fell in February from the previous month in a sign that a rebound in external demand could start to slow as the impact of subsidies and stimulus measures wane.
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U.S. existing-home sales fall for a third straight month.
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)
|
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 | Sold Half at 3.34. The rest are closed at 3.31 | |
| 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 | Broke but not entered |
Stock Prices last updated at 17.05 (Singapore Time)
In Summary,
Index closed low at 2886.36, drop 19.30 points, with heavy volume of 1.7181 billion traded.
The pullback is mostly contributed by Noble Group and Jardine Strategic which dropped 0.12 and 0.36 respectively today.
The 3 bank stocks also posted losses as well. DBS dropped 0.12, UOB dropped 0.04 and OCBC dropped 0.03.
Last but not last, Property Sector does contribute a fair bit to the losses, with City development down 0.08, Capitaland down 0.04 and Capitamall Asia down 0.03.
For your reference, Noble closed at 3.19, Jardin strategic closed at 19.72, DBS closed at 14.48, UOB closed at 19.44, OCBC closed at 8.70, City Development closed at 10.58, Capitaland closed at 4 and Capitamall Asia closed at 2.29.
Most likely Index will trade sideway from now… High chance that we will see index trading between 2800 – 2900 points. For now, our focus is on Mid Cap and Small Cap.
One of the good performing stock is Broadway (small cap). This stock managed to break out 0.935 after 1 month consolidation and traded high, closed at 1 today.
The other one is DMX Tech (china sector), There is good volume and range, closed at 0.39.
