Morning Highlights

Singapore market opened slightly lower after Wall Street shares fell overnight on weak housing and labour market data. STI slid 2.6points to 3080.53.

  • Singapore’s inflation grew to an 18-month high in August, with the consumer price index (CPI) up 3.3% year-on-year following higher costs of transport, housing and food. The Department of Statistics announced in a press release on Thursday, August CPI advanced 0.5%over July.

Watch Out For Economic News Today

  1. U.S August New Home Sales

Corporate Announcements:

  1. Biosensors announced that its novel Sparrow drug-eluting stent system for treatment of small vessels is demonstrated safe and effective.
  2. SGX announced it is enhancing its Securities Borrowing and Lending (SBL) service to cover over 80% of the total listed stocks on SGX mainboard and Catalist.
  3. DBS plans to spend S$250 million over the next 5 years to expand its treasury and markets business in the region with a focus on China and India

News Updates:

  1. Banks that profit by ‘fooling people’ about credit costs will have reason to fear a new US consumer protection bureau but not those that fairly disclose borrowing charges, the new consumer czar, Elizabeth Warren, said on Thursday.
  2. U.S. existing home sales rose in August, up 7.6% to an annual rate of 4.13 million units, the National Association of Realtors said on Thursday.
  3. U.S. Jobless Claims unexpectedly rise  last week, up 12,000 to a seasonally adjusted 465,000.
  4. U.S. gauge of leading economic indicators up 0.3%.
  5. Stocks in Europe decline in the wake of sharply lower September PMI data .

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

6.15

5.74

 

6.56

  
2 OLAM Olam International 3.06 2.90 3.22
3 RAFG Raffles Medical Group 2.30 2.16 2.44  
4 SWBR Swiber Holdings 1.17 1.07   1.27
5 KRZL Kreuz Holdings 0.52 0.455 0.585
6 SERO Seroja Investments 0.42 0.36 0.48  
7 CTDM City Development 12.08 11.78 12.38
8 CNAO China Aviation Oil Singapore Corp 1.60 1.49 1.71
9 HIPI Hi-P International 1.05 0.965 1.14
10 HONG Hong Fok Corp 0.60 0.55 0.65
11 SOGL Sound Global 0.855 0.795 0.915  

Stock Prices last updated at 9:00 (Singapore Time)

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