Market Updates

Singapore market started almost unchanged from last Friday after a tepid performance on Wall Street, with the STI opened up 2.12 points at 2908.4. Index is trending up steady since market opened…

South Korean stocks moving lower amid caution after an unexplained explosion sank a naval ship late on Friday.

 News Updates:

  1. Thailand’s Finance Ministry will support a fund-raising plan by national carrier Thai Airways, Finance Minister Korn Chatikavanij said on Monday.
  2. Japan Retail Sales rose 4.2% higher in February from a year earlier, and was the largest gain since a 12.4% spike in March 1997, due to oil price rises and the lingering effect of government stimulus for fuel-efficient cars, but the outlook remains murky.   
  3. CapitaMall Trust Management announced today that it has set up a US$2 billion Euro-Medium Term Note Programme. Morgan Stanley Asia (Singapore) has been appointed to act as the arranger and a dealer.
  4. China Kunda warned that it expects to report a ‘substantially lower’ net profit for FY2010, partly due of delays in the production ramp up of some of its products. It had converted one of its two In-Mould-Decoration products (IMD) production line to focus on the production of IMD laptop casing in June 2009.
  5. M1 has entered into two agreements for credit facilities of up to S$250 million; 3-year term loan facility with CIMB Bank Berhad, Singapore Branch, for S$125 million and 3-year term loan facility with OCBC for up to S$125 million.

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 GPAK Goodpack Ltd 1.79 1.70 1.88 Removed
2 UOBH United Overseas Bank 19.70 19.06 20.34  
3 WTHS Wing Tai Holdings 1.92 1.81 2.03 Removed
4 FRNM Fraser  Neave Ltd 4.66 4.44 4.88 Touched but not entered
5 ECSH ECS Holdings Ltd 0.72 0.66 0.78 Removed
6 MIIF Macquarie International Infrastructure Fund 0.585 0.535 0.635
7 KPLM Keppel Corp 9.27 9.02 9.52 Triggered, Current Price at 9.31
8 SCMN Sembcorp Marine 4.14 3.93 4.35 Triggered, Current Price at 4.25
9 SCIL Sembcorp Industries 4.13 4.06 4.20 Triggered, Current Price at 4.13

Stock Prices last updated at 17.05 (Singapore Time)

In Summary,

Singapore shares closed higher on Monday with the blue-chip STI up 22.86 points to 2929.14, with 1.3533 billion traded.

Index is challenging back the high of 2947 created on January 11th 2010. Our Focus is on Blue Chips – Offshore shares. Watch out for Commodity stocks too, namely Wilmar and Straits Asia.

  • Singtel broke high of 3.25
  • City Development finished well at 10.98. On the lookout.

Last but not least, China’s markets surged after the launch date for stock index futures was set. South Korean shares are also retracing early losses as concerns over the sinking of a naval ship eased. Sentiment was somewhat supported by Euro zone members late last week on agreeing to provide backstop loans for Greece in conjunction with the International Monetary Fund.

NEqCZpl_CPg