Morning Highlights

Our Focus For Today Is On Blue Chips And Commodity Sector

STI opens up at 2792.68 and is going higher. We will need to see if the resistance at 2785.94 will turn into support.

  • Noble to lookout for 2.89
  • City Development to lookout for 10.60
  • SIE broke high of 2.98, to wait for setups
  • Indofood Agri broke high of 1.91, to wait for setups

Corporate Announcements
Keppel Corp’s Keppel FELS unit has secured contracts worth US$200mn to build a semi-sub rig in Vietnam for PetroVietnam. The formal rig contract is expected to be finalised shortly in December 2009. The rig is expected to be delivered by 4Q2011

News Updates

  • Gold hit exactly US$1,174 an ounce in late trading on the London Bullion Market on Monday as gold appeal as a safe-haven asset and a hedge against inflation
  • Sales of previously owned US homes rose in October at a faster-than-expected pace to the highest in more than 2-1/2 years as buyers rushed to take advantage of a popular tax credit, a survey showed on Monday
  • The Federal Reserve Bank of Chicago said its National Activity Index slid to -1.08 from a revised -1.01 in September. September’s reading was originally reported at -0.81.

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 OCBC Overseas Chinese Banking Corp 8.54 8.35 8.56 8.73 Overnight – Current Price at 8.73
2 DBSM DBS Group 14.92 14.52 14.92 15.32 Overnight – Current Price at 15.26
3 YAZG Yangzijiang Shipbuilding 1.19 1.06 1.11 1.49 Overnight – Current Price at 1.20
4 SOGF.SI Sino Grandness Food Industry 0.41 0.37 0.395 0.45 Overnight – Current Price at 0.425
5 SCIL Sembcorp Industrial 3.65 3.55 3.73 3.75 Overnight – Current Price at 3.89
6 UOBH United Overseas Bank 20.10 19.16 21.04
7 FRNM Fraser & Neave Ltd 4.03 3.90 4.16
8 PARM Parkway Holdings 2.72 2.61 2.83
9 STEG Singapore Technologies Engineering 3.21 3.11 3.31
10 STRL Straits Asia  2.24 2.12 2.36
11 PSLL PSL Holdings 0.25 0.225 0.295  

Stock Prices last updated at 9.20 (Singapore Time)

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