STIÂ fell 37.92 points to open at 3,191.77 on overnight sharp drop in Wall Street on Friday as anti-government rioting in Egypt prompted investors to flee to less risky assets to ride out the turmoil.
Singapore market is directionless now, support is seen at 3100.
News Updates:
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Concerns about Egypt overshadowed a report showing the U.S. expanded 3.2% in the fourth quarter. Household purchases, about 70% of the economy, rose at a 4.4% pace, the most since the first quarter of 2006, signalling the world’s largest economy and consumers are recovering from the worst recession since World War II. New-home purchases in the U.S. also rose more than forecast last month, Commerce Department figures showed last week. (Bloomberg)
Corporate Announcements:
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Tiger Airways reported 60.3% year-on-year increase in 3Q 11 net profit to $22.6 million.
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Biosensors reported 7.8% year-on-year increase in 3Q 11 net profit to US$13.3 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.
Our Mid Terms Holdings : Bullish Stocks (Singapore)
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Name |
Entry |
SL |
TSL |
TP |
Remarks |
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| 1 | KPLD | Keppel Land | 4.19 | 3.95 | Overnight, Current Price at 4.50(Entered 12.10.10) | ||
| 2 | IFAR | Indofood Agri Resources | 2.70 | 2.23 | Â | Overnight, Current Price at 2.51 (Entered 25.10.10) |
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| 3 | STRL | Straits Asia Resources | 2.68 | 2.17 | Â | Overnight, Current Price at 2.59Â (Entered 30.11.10) |
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| 4 | SCMN | Sembcorp Marine | 5.19 | 4.49 | Â | Overnight, Current Price at 5.42 (Entered 29.12.10) |
Stock Prices last updated at 11:33 (Singapore Time)
