Morning Highlights
The STI opened lower at 2684.12, attempting to test support at 2681.69. We will stay on the sidelines for the time being.
Capitaland broke its 3 week rally and fell from a 65-week high close of $4.43 to $4.30 (-2.9% dod). This came after the company announced 3QFY09 net income of S$281.3 million which fell 32.9% Year-on-Year (YoY).
Other Asian share markets were also mostly lower Wednesday after a choppy session on Wall Street, with National Australia Bank slipping in Sydney despite reassuring company comments but Honda buoyant in Tokyo after lifting its earnings forecast for this fiscal year.
“Investors need to find new upward momentum, which could come from a conviction about a further recovery in corporate earnings and the global economy, as many think current stock prices have mostly priced in positive data so far,” said Lee Kyoung-min at Woori Investment & Securities in Seoul.
Corporate Announcement
Ezra will be setting up a JV with KTL Global Limited to design, produce and supply mooring systems for the offshore oil and gas industry.
Wed 28 Oct 09: OCBC 3QFY09
News Updates
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U.S. consumers’ confidence takes a turn lower, Conference Board data show
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U.S. home prices for August off 11.3% from year ago, up 1.2% from July: Case-Shiller
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 | UOBH | United Overseas Bank Ltd |
17.52 |
17.14 |
17.90 |
Near Breakout |
| 2 | NOHL | Novena Holdings | 0.22 | 0.18 | 0.26 | |
| 3 | FCL | Frasers Centrepoint | 1.30 | 1.20 | 1.40 | |
| 4 | GPAK | Goodpack | 1.25 | 1.14 | 1.36 | |
| 5 | CACT | CapitaCommercial Trust | 1.18 | 1.08 | 1.28 | |
| 6 | TSHS | Tuan Sing Holdings | 0.235 | 0.195 | 0.275 | |
| 7 | SCOF | Supper Coffeemix | 0.715 | 0.675 | 0.755 |
Bearish Stocks (Singapore)
|
Symbol |
Name |
Entry |
SL |
TSL |
TP |
Remarks |
| 1 | STAR | Starhub Ltd |
1.87 |
1.96 |
1.78 |
Stock Prices last updated at 9:20 (Singapore Time)
Here’s Our Mid Term Holding Opportunities for property shares.
- Fraser & Neave – Buy at 4.02, Stop Loss at 3.76
- Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
- City Development – Buy at 10.50, Stop Loss at 9.55
- Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
- Ezra – Buy at 2.08, Stop Loss at 1.66
- Lookout for Keppel Corp
