Morning Highlights

Our Focus For Today Is On China Sector

Singapore shares rose slightly at open, with STI up 11.48 points to 2983.45.

  • Tiger broke high of 1.87
  • Debao opened underwater at 0.405
  • MAS will release its semi annual policy statement today, which will contain details on the Singapore exchange rate and other macroeconomic data.

Corporate Announcements

  1. Midas’ joint venture company Nanjing SR Puzhen Rail Transport won a contract worth RMB474 million to supply metro train sets for the Suzhou Metro Line 1 project. 
  2. Ezra’s reported healthy 17% growth in 1H FY10 (ended 28 Feb 10) net attributable profit (PATMI) to US$28.8m.

 News Updates:

  1. China posted a US$7.24 billion trade deficit in March, its first in almost six years, the official Xinhua News Agency reported on Saturday, citing customs figures. Officials say the trend will be short-lived.
  2. Wall Street climbed with energy sector; U.S. stocks advance for fifth straight week in longest stretch of gains since April 2009‏
  3. Dow briefly surpassed the psychologically important 11,000 mark late in the Friday’s session for the first time since September 2008.
  4. Fitch downgrades Greece credit rating amid bailout rumors‏.
  5. Early this morning, Bloomberg reported that European governments offered Greece a rescue package worth as much as 45 billion euros at below-market interest rates in a bid to stem its fiscal crisis and restore confidence in the euro.

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 DBSM DBS Group Holdings 14.86 14.58 15.14  
2 WLIL Wilmar International Ltd 7.03 6.83 7.23
3 UTES United Engineers 2.59 2.48 2.70 Touched 2.59, Not Entered, Observe
4 CXLX China XLX Fertiliser Ltd 0.655 0.575 0.735
5 CHHL Chasen Holdings 0.63 0.415 ` 0.845
6 DMXT DMX Technologies 0.44 0.375 0.505
7 SOGL Sound Global 1.05 0.96 1.14  
8 UPPS UPP 0.235 0.18 0.29 Triggered, Current Price at 0.24
(Trying to sell at 0.23)
9 STEG Singapore Technologies Engineering 3.36 3.26 3.46  
10 CNFG China Fishery Group Ltd 2.16 2.07 2.25 PROFIT – CLOSED at 2.18
11 COSC Cosco Corp Singapore 1.48 1.34 1.61 1.62 PROFIT – CLOSED at 1.63

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index is now trading near day’s low.

  • Cache REIT commenced trading at 2pm today, opened at 0.995 vs 0.88 (IPO Price)
  • Osim broke high of 0.925

In Summary,

Index up 5.20 close 2977.17 with 2.6487 billion traded