Singapore Stock Market Updates On 28/07/10

Morning Highlights

Index opened little changed at 2976.79 after Wall Street sagged overnight on consumer confidence.

Watch out for Economic News Release Today:

1. U.S. Durable Goods Orders in June

Corporate Announcements:

1. CDL Hospitality Trusts (CDLHT) posted a 49.2 per cent increase in net property profit at $28.70 million for the second quarter ended June 30, from a year ago.

News Updates:

1. US home prices rise 0.5% in May
2. US consumer confidence fell to 50.4 in July from a revised 54.3 in June, the lowest level since February, weighed mostly by worries about the job market, according to a private sector report released on Tuesday.
3. The US Treasury on Tuesday promised a plan to reform troubled state-backed mortgage firms Fannie Mae and Freddie Mac by January, firing the starting gun on what is likely to be a rancorous debate.
4. Tokyo’s Nikkei average rose 1.2% on Wednesday, helped by a weaker yen and strong corporate earnings at home and abroad, with investors keen to see if it will decisively break above a key resistance level, which would be a catalyst for more gains.
5. BP names Robert Dudley as new CEO, replacing Tony Hayward
6. BP swings to $17.2 billion second-quarter loss, takes $32.2 billion oil-spill charge
7. India’s central bank raises lending rates by 0.25 point, borrowing rates by 0.5 point
8. DuPont earns $1.2 billion in the second quarter, lifts 2010 earnings guidance
9. U.S. stocks open higher; DuPont rallies on strong results
10. Dow extends win streak to fourth session; Nasdaq, S&P slip into the red

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)

Stock Prices last updated at 9:05 (Singapore Time)

In Summary,

Index closed up 6.00 points to 2985.38, with 1.44 billion traded.  Gainers led losers 247 to 187.