Our Primarily Focus for Today is on REIT…

Morning Highlights

STI gapped down and opened at 2657.40. It is trading lower than the support range between 2667.82 – 2676.54. This indicates a short term bearish on the market. In fact, the market seems to be forming an island reversal but more confirmations are needed from the next few days of trading.

The individual sectors are having mixed performance. We will have to see which sector is able to hold up in the later session. As of now, Hiap Seng is holding up well –> this could signify a lookout on Engineering Sector..

Nonetheless, based on the current market situation and unsatisfactory sectors’ performance, we advise all trades to be entered with cautious and small risk until a clearer picture is seen.

Tokyo-traded shares fall sharply in early action, once again led by exporters'  pain over the ever-stronger Japanese yen.

STI created a low of 2640.99 at almost 10am (Singapore Time).

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 Last Week>

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 MRNG MediaRing Ltd 0.28 0.22 0.34 To enter as Market Order
2 Cosmosteel 0.51 0.465 0.556 PROFIT – CLOSED at 0.52
3 CACT CapitaCommercial Trust 1.03 0.96 1.10

CANCELLED! Lookout for new setups
4 WTHS Wing Tai Holdings Ltd        

broke high of 1.88. Wait for setups
5 ARAM ARA Asset Management Ltd broke high of 0.845. Wait for setups
6   Beng Kuan Marine 0.365 0.31 0.42
7 SPRM Singapore Press Holdings Ltd 3.89 3.79 3.99
8 NOBG Noble Group Ltd 1.99 1.82 2.16
9 YAZG Yangzijiang Shipbuilding 1.08 1.01 1.15
10 China Environment 0.755 0.695 0.815
11 Ying Li 0.605 0.485 0.725
12 Marco Polo 0.465 0.425 0.505
13 HSEN Hiap Seng Engineering 0.7 0.64 0.76  

Stock Prices last updated at 17.33 (Singapore Time)

Afternoon Highlights

The Market is still performing poorly, trading close to today’s low of 2640.99. We don’t wish to see this low be broken.. else, there might be a chance for the index to go even lower..

Design Studio clear high of 0.515. To wait for setups

In Summary,

Singapore Government’s intervention in property prices resulted in sell-down of property stocks in today’s trading session. City Development has dropped 80 cents from previous close of 11.08.

STI broke today’s low of 2640.99 during the last 30 minutes of the trading session and close at 2637.68, which is mostly led by the selloff at Property Sector. The next support to lookout for is at 2618.99.

Winquote - pdfMachine from Broadgun Software, http://pdfmachine.com, a great PDF writer utility! Any further drop in market will imply a short term bearish sentiment.

However, Chinese stocks again went against the general trend in Asia, with the Shanghai Composite advancing 1.2% to 3,026.74 after China's securities regulator said it would start reviewing applications from companies seeking to list on the Growth Enterprise Market.

Japanese shares tumbled today on concerns that the strengthened yen could dent exporters' earnings.

Most other Asian markets also lost ground. Hong Kong's Hang Seng Index ended 1.1% lower at 20,932.20, Australia's S&P/ASX 200 fell 1.4%, and South Korea's Kospi dropped 1%.