Morning Highlights

Singapore stocks opened higher, with STI up 11.76 points to 2881.75. But trade is lackluster after Wall Street’s tepid performance on Monday.

  • Genting Singapore broke 1.17
  • Capitacommercial Trust broke 1.21
  • Sinograndness broke 0.29

Lookout for Economic News Release Today:

  1. U.S. Consumer Confidence in June
  2. Europe Consumer Confidence in June

Corporate News:

  1. K-Green Trust, part of the proposed dividend payment from Keppel Corp in specie of 320 million units, will begin trading on the SGX this morning.
  2. Yangzijiang has acquired a 51% stake in Jiangsu Changbo Shipyard for a total investment of RMB 156.1 million.
  3. CapitaLand’s wholly-owned subsidiary CapitaLand (Sichuan) Holdings has agreed to sell its entire 50% stake in Sichuan Zhixin CapitaLand to Chengdu Zhixin Industrial Co.
  4. Sembcorp Industries said on Tuesday it will develop a $40 million industrial waste water treatment facility on Jurong Island.

News Updates:

  1. In Europe, stocks advanced after G-20 leaders responded to the European debt crisis with deficit reduction targets and agreed to pursue higher capital requirements for banks once economic recoveries take hold.
  2. U.S stocks fell, sending the S&P500 lower as declines in oil and metal prices dragged down commodity producers.
  3. U.S. savings rate rises in May, while personal incomes edge upward
  4. Japan May industrial output -0.1% mth/mth; Japan May household spending falls 0.7%.
  5. Japan’s unemployment rate rises in May to a seasonally adjusted 5.2%, marking an increase from 5.1% in April.
  6. South Korea May current account surplus at 5 month high.
  7. Changi Airport’s passenger numbers soared 21.6% year-on-year to 3.39 million in May – more than double Hong Kong’s 14.4% rise and Dubai’s 13.6% improvement.
  8. Singapore plans to triple its current Newater capacity and increase desalination output by almost 10 times by 2060 to meet the country’s future water needs.

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 ARMS Armstrong Industrial Corp 0.475 0.425 0.525
2 CTDM City Development 11.04 10.78 11.30 Not Entered, broke out at opening.
3 BATE Baker Technollogy 0.48 0.43 0.53  
4 SIAE SIA Engineering Co Ltd 4.06 3.97 4.15  
5 UMSH UMS Holdings Ltd 0.325 0.275 0.375 PRFOFIT – CLOSED at 0.335

Stock Prices last updated at 17:05 (Singapore Time)

Afternoon Highlights

Index break down 2830, support at 2800 is very critical…

New IPO : K-Green Trust; Issue manager : HSBC; Commence trading today; Offer Price : 1.02-1.20, Open trade today at 1.17.

News Updates:

  1. Asian shares reverse from a generally positive direction to move broadly lower in midday trading, with Hong Kong and Shanghai indexes leading the regionwide fall.

In Summary,

Index down 39.65 points to close at 2830.34, with 1.3885 billion traded.

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