Morning Highlights

Our Focus For Today Is On Mid Cap And Small Cap

The STI up 14.48 points to open at 2973.49 as concerns over Greece eased after signs of bailout might be coming soon. Support is seen at 2932.04 and resistance at 3000.

Asia markets are also higher on Wall Street’s rise, with exporters pacing gains in the Japanese and Korean markets.

  • Genting broke 0.975
  • Today is month end window dressing

  • Innotek broke 0.61

  • Singapore Total Bank Lending rose 0.5% to $286.3 billion in March from $284.8 billion in February, central bank data showed on Friday.

Corporate Announcements

  1. DBS agreed on a strategic partnership with SMRT to increase its self-service banking network.

 News Updates:

  1. Sales surge boosts Procter & Gamble profit; diluted earnings hit 83 cents a share‏
  2. Exxon Mobil first-quarter profit surges 38% to $6.3 billion; shares dip in pre-market trades‏
  3. U.S. first-time jobless claims fall by 11,000 to 448,000‏.
  4. Number of Americans filing claims for unemployment benefits declined last week to a one-month low, adding to signs the economic rebound is lifting the job market.
  5. Greek stocks surge nearly 8% as hopes rise that Athens can avert default‏
  6. United and Continental expected to announce airline merger Monday: reports
  7. ‏Japan Manufacturing PMI up as export orders rise
  8. Japan March CPI -1.2% yr/yr, down 13 months in row
  9. South Korea March output up 1.6%, beats forecasts

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 SIAT Singapore Airport Terminal Services Ltd 2.93 2.74 3.12  
2 UTES United Engineers 2.65 2.51 2.79  
3 WPSL Wheelock Properties Ltd 2.13 1.93   2.33  
4 MOIL Mandarin Oriental International 1.77 1.59 1.95 CANCELLED
5 STTS Stats ChipPAC 1.21 1.11 1.31
6 PTGL Pteris Global 0.31 0.215 0.405  

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Market is likely to trade like roller coaster. Hence, we advise to stay sideline for the time being till further confirmation…

  • Super Coffeemix broke 0.845
  • Watch for recent IPO Palm Global. [New Trade Opportunity, to buy at 0.45, Stop Loss at 0.405 and Target Profit Level at 0.495]
  • China Lifestyle to be delisted May 6

News Updates:

  1. Bank of Japan stands pat, says it will make ‘new efforts’ to strengthen economic growth.
  2. MTQ reported net profit for the full year to end March 2010 rose 10% to $12.03 million (US$8.78 million), boosted by a $1.9 million gain from the sale of shares, which more than offset increases in operating and staff costs.
  3. China Essence in talks with DBS on RMB342 million loan repayment.
  4. Jadason Enterprises Ltd reported net profit for the first quarter of 2010 was at S$1.45 million, up from S$407,000 a year ago; Revenue improved 9%
  5. CDLHT Q1 net property income up 20%
  6. Chemoil warns of Q1 net loss due to weak fuel margins.
  7. Barclays Q1 profit climbed 29%
  8. Eurozone Mar Jobless Rate At 10%

In Summary,

Index closed higher 15.6 points to 2974.61, with 1.8296 billion traded. Gainers led losers 295 to 190.

By week, index has dropped 10.90 points on light volume of 9.2602 billion traded. In our point of view, this slight dip is deemed as pullback, signifying market going sideways, rather than as a trend reversal. After the consolidation period, market is likely to re-test resistance at 3040, which was created on 15 April.

Our Focus will be on Small & Mid Caps, with selective Blue Chips such as Hong Kong Land.

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