Morning Highlights

Our Focus For Today is On Still on REITs

STI down 9.83points at open. Other Asian stock markets move mixed in cautious trade after mild losses on Wall Street. Hong Kong is closed for holiday today.

Shares that breakout today:

  • Singapore Press Holdings broke high of 3.88 - wait for setups

News Updates

  • Case-Shiller survey shows U.S. home prices up 1.6% in July from June‏
  • Higher U.S. home prices provide backdrop for early gains on Wall Street‏
  • Consumer confidence unexpectedly slips in September, Conference Board reports‏
  • Jurong Island is running out of land and Singapore will decide early next year on how to augment space at the oil & petrochemicals hub that houses biggies such as ExxonMobil and Shell. (Business Times)

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.  <The Quick Picks referred herein contain overnight positions from Yesterday>

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 CACT CapitaCommercial Trust 1.07 0.99 1.15
2 AEMN Ascendas REIT 1.95 1.79 1.83 2.11 Triggered – Current Price at 1.91
3 RAMB Ramba Energy Ltd 0.635 0.475 0.795 Trading Halt, pending announcement
4 CMIT Cambridge Industrial Trust 0.48 0.45 0.51
5 ASRT Ascott Residence Trust 1.02 0.99 1.05  
6 FJBN FJ Benjamin Holdings Ltd 0.405 0.35 0.46 CANCELLED
7 AZTS Aztech Group Ltd 0.37 0.275 0.465
8 BWRL Bright World Precision Machinery 0.235 0.155 0.315  
9 NOBG Noble Group Ltd 2.61 2.34 2.88  
10 CNFG China Fishery Group Ltd 1.48 1.37 1.59
11 SCOF Super Coffeemix Manufacturing Ltd 0.68 0.63 0.73  
12 ECOW Ecowise Holdings 0.33 0.275 0.385 To watch near breakout**
13 TION Tiong Woon Corp 0.99 0.855 1.13  
14 KPLM Keppel Corp Ltd 8.28 7.90   8.66 Overnight - Current Price at 8.09

Stock Prices last updated at 17.25 (Singapore Time)

**After breakout, watch share closely and to take profit immediately once the  share starts to retrace back... for conservative ones, don’t enter trades

Afternoon Highlights

Market is going sideways. Today is very quiet probably due to Shanghai and Hong Kong markets closed, hence, there is very little volume traded so far.

Starhub drop 0.15 in today’s trading so far, whereas Singtel is up by 0.03. The moving averages on Singtel Charting are turning so there might setups coming soon.

In Summary

STI close 15.13 points down at 2657.44. The volume is low with only 1885.2 million traded today. As market is simply going sideways,  let’s see if REITs can perform in tomorrow’s trading. As far as we observed, mainly only Ascendas REIT broke out today. We will lookout on other REITs to confirm if this sector is moving up. 

Small and Mid Caps have finished their run. Among the Blue Chips, only Hong Kong Land has outperformed and Singapore Press Holding picking up activity today. The rest of the Blue Chips are very sluggish.

Today’s News:

  • Singapore, 1 October 2009 - StarHub announced today that it did not procure from FAPL the rights to the Barclays Premier League (BPL) for the 2010/11, 2011/12 and 2012/13 seasons. Its carriage of ESPN (Channel 23), STAR Sports (Channel 24) and STAR Cricket (Channel 110) will also end with effect from mid 2010. Instead, Singtel has won the exclusive rights to the Barclays Premier League matches for three years from August 2010.
  • Swing Media Technology Group is trying to place 75 million new shares at 0.54 apiece to raise up to $3.95 million. It has engaged DMG & Partners Securities to find subscribers, the company said on Thursday. (Business Times)
  • An important announcement was out this morning that SingTel’s subsidiary, Bharti (India’s largest wireless operator) and South Africa’s MTN have finally decided to call off their merger talks on a proposed US$23 billion transaction. This would have been a significant step in promoting South-South cooperation. This is the second time in two years that the two parties have abandoned talks. In relation to SingTel, investors of the stock have been following the deal closely. Now that the wait for results is over, all eyes are on SingTel to see how this news could affect its share price. (Source: SGX announcements).
  • Concerns over Wilmar’s HK IPO listing and China plays sold down, amongst them, Yanlord (-2.2% dod, $2.28), Midas (-2.3% dod, $0.855) and Cosco Corp (-1.6% dod, $1.20) all finished in the red. (Warrants)
  • ST Electronics has been awarded $34 million worth of contract by the Singapore Civil Defence Force. (Business Times)
  • Asian equity markets were mostly lower as investors eyed the latest Tankan survey reading from Japan, while U.S. stock futures were steady with Dow Jones Industrial Average futures down 1 point. (read on)
  • European Stocks start the fourth quarter on a positive note in Europe on Thursday as Tandberg shares soared following an offer from Cisco Systems; Cisco to buy Tandberg.
  • U.S. GDP down 0.7% in government's final revision of second-quarter figures‏ (ChannelNewsAsia)
  • Private-sector firms in the United States cut 254,000 jobs in September, according to the ADP employment report released Wednesday.