Singapore Stock Market Updates On 31/08/10

Morning Highlights

Singapore market started weaker, with STI down 14.62 points to open at 2942.44. Wall Street’s fall and soft U.S. data on Monday, including weak readings on personal income and Texas-area manufacturing activity, hurt market sentiment.

Watch Out For Economic News Today:

1. U.S August Consumer Confidence

Corporate Announcements:

1. Yangzijiangannounced that the Group has entered into a total of 28 shipbuilding contracts with an aggregate contract value of US$915 million since 1 July 2010.
2. Yangzijiangis setting up a joint venture company with Shanghai Bestway Marine Engineering Design Co., Ltd. to provide design services for shipbuilding and marine engineering projects.

News Updates:

1. Japan Factory output edged up in July but manufacturing activity in August expanded at its slowest pace in more than a year, suggesting that companies were starting to feel the pinch from an export slowdown and a strong yen.
2. Australian Prime Minister Julia Gillard pledged on Tuesday to work towards a minority government and rejected a quick return to the polls after national elections failed to produce a clear winner.
3. Australia’s current-account deficit totaled A$5.64 billion ($5.05 billion) on a seasonally-adjusted basis in the second quarter, shrinking 66% from a revised A$16.46 billion in the first quarter, the Australian Bureau of Statistics
4. Indonesia to seek US$2.4 billion for Timor Sea oil spill
5. Malaysia Market is closed for holiday today.

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)