Singapore Stock Market Updates On 30/06/10

Morning Highlights

Singapore stocks fell in opening trade, hammered by sharp losses on Wall Street overnight. STI gapped down 60.22 points to open at 2770.12, below critical support at 2800.

Our market sentiment has shifted from bullish to neutral. We advise to stay out of market for the time being and observe if market is able to reverse losses and close above 2800.

Lookout for Economic News Release Today:

1. U.S. ADP Employment Change in June
2. Europe Consumer Confidence in June

Corporate Announcements:

1. Wilmar has entered into a joint venture with Elevance Renewable Sciences to build a world scale biochemical refinery.

News Updates:

1. Japan’s Nikkei average fell more than 2% to a seven-month low on Wednesday, after a tumble on Wall Street, with the benchmark index breaking below a key support level.
2. U.S. stocks fell sharply to finish at their lowest level of the year Tuesday after a drop in consumer confidence here and in leading indicators in China dimmed hopes of a global economic recovery.
3. Australian stocks suffered a broad sell-off in early Wednesday trading, reacting to overnight Wall Street losses and concerns about global economic health. On the last trading day of the Australian financial year, the S&P/ASX 200 was down 2% at 4,260.0
4. U.S. home prices’ April rise is first advance in seven months
5. U.S. consumer confidence plummets to 52.9 in June from 62.7 in May
6. Tesla trades as high as $19 on Nasdaq after pricing IPO above forecast range.
7. Verizon Wireless to offer Apple’s iPhone by January: report

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)