Singapore Stock Market Updates on 07/10/09

Morning Highlights

Our Focus For Today is on Individual Stocks…

STI gapped up and open at 2640.37 as supported by Wall Street’s rally, with Dow Industrials finish up triple digits. In Australia, gold miners were shining after spot gold prices hit a record high of $1036 an ounce on Tuesday.

After a strong rebound in the U.S. markets on Tuesday with the Dow surging 1.2% day-on-day (dod), most Asian markets followed suit to finish in positive territory. This was on the back optimism returning with a better than expected reading from the services sector in the U.S. The STI (+1.1% dod, 2,611.9) recouped some of its losses made over the past 3 days.

Capitaland has also benefits from plan to list subsidiary and CPO prices continued to advance for a second day to close at 2,062.0 ringgit per ton (+1.0% dod).  (Read More…)

Currently Singtel is the lead of the decline of index. Till now, this stock has dropped 0.07. The Property Sector is weak.

There are 4 very bearish stocks on our watch list. Do lookout for shorting opportunity for Allgreen, UOL, City Development and Wingtai!

Market is trying to hold above 2634.91, which was a resistance that is breached today.. There is a high chance that we might see market retrace below 2634.91 in the afternoon trading session. (update 12:15) 

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)

Bearish Stocks (Singapore)

mkt close 2634.63, slightly below 2634.91 (which is the resistance tt turn support)
high chance we will see mkt trading btw 2603.20 - 2634.91

Stock Prices last updated at 17.30 (Singapore Time)

Afternoon Highlights

F&N will be triggering soon. Be on standby (update: 15:15)

Market close at 2634.63 which is slightly below 2634.91. This was the resistance which turn into support today. High chance we will see market trading btw 2603.20 - 2634.91