Market Updates

STI opened slightly lowered this morning at 2907.23. Most of the Asian stock markets were also lower as weighed by losses on Wall Street, as well as a surprise inter-meeting interest rate hike from the Reserve Bank of India on Friday.

Seems like market is undergoing correction right now, do be cautious when trading… 

Corporate Announcements:

  1. Keppel Corp, in fortifying its presence in the Caspian Region, joins hands with State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC) to develop and manage a new 52-ha shipbuilding and ship repair facility in Baku, Azerbaijan.

  2. In an after-market SGX announcement, the bank said that Koh Boon Hwee will step down as chairman of the group after the annual general meeting on April 30. Peter Seah Lim Huat will assume the post on May 1.

News Updates:

  1. The Dow Jones Industrial Average fell last Friday, breaking an eight-day winning streak, after India’s unexpected interest rate increase raised concern the end of stimulus measures will curtail global growth.
  2. Super Coffeemix Manufacturing Ltd is considering a proposal to offer up to 30 million new shares for listing as Taiwan Depository Receipts (TDRs) on the Taiwan Stock Exchange.
  3. Technics wins S$6.15 million gas compressor deal .
  4. Air China announced plans to increase its holdings of Shenzhen Airlines to take a majority stake, to invest 682.14 million yuan ($100 million) in the airline, lifting its stake to 51% from 25%, according to a filing with the Hong Kong Stock Exchange. As part of the agreement, Total Logistics Shenzhen Co., will also inject 347.98 million yuan, increasing its stake to 25% from 10% previously 

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)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 SCOF Super Coffeemix 0.755 0.70 0.81 Lifted trading only today so open gapped up, Not Entered
2 IFAR Indofood Agri Resources 2.38 2.16   2.60  
3 GAGR Golden Agri Resources 0.605 0.55 0.66  
4 WTHS Wing Tai Holdings 1.92 1.81 2.03
5 CATL Capitaland Ltd 4.12 3.99 4.25  
6 KPLM Keppel Land 3.73 3.61 3.85
7 PWAY Parkway 3.26 3.05 3.47
8 NEPS Neptune Orient Lines 2.04 1.96 2.12
9 OSIM Osim 0.925 0.875 0.975
10 GUCL Goucoleisure 0.71 0.655 0.765  

Stock Prices last updated at 17.05 (Singapore Time)

In Summary

Index closed low at 2889.18, down 26.52 points, with 1.0564 billion traded

We can expect index to correct to around 2850. There is a support seen at 2820. Majority of blue chips are now under going corrections. High chance that Index will take a longer time to recover back and break 2947 (high created on Jan 11).

Despite overall market weakness, parkway is able to regain strength and close at 3.24, up 8cents. On the lookout!!