Morning Highlights

There Are No Quick Picks For Today

U.S. stocks rallied, with benchmark indexes advancing the most in more than a year, after European policy makers announced a loan package of almost $1 trillion to contain the sovereign-debt crisis.

Singapore Shares also started the day positive with STI up 0.28% at 2888.56.

  • Banyan tree broke 0.835

Watch out for these economic data to be released today:

  • U.S. March Wholesale Inventories, IBS/TIPP Economic Optimism
  • China April CPI, Retails Sales and Industrial Production figures

Despite the positive start, index failed to hold on to gains and started to go into the red again…

Corporate Announcements

  1. Capitaland announced plans to build Raffles City Shenzhen, it’s sixth in China.
  2. Cosco announced the delivery of two bulk carriers of 57,000 dwt each by its subsidiary.
  3. Tiger Airways announced strong operating statistics for April 10. Passengers increased 45% yoy, 12-month passenger volume exceeded 5 million for the first time.

News Updates:

  1. SEC agrees to framework to boost circuit breakers‏
  2. Dow's 405-point gain is biggest since March 2009; Nasdaq closes up 4.8%.
  3. The Philippine peso opened stronger against the US dollar on Tuesday after Benigno 'Noynoy' Aquino established a big lead in the presidential vote count.

Afternoon Highlights

Index continued to trade lower.. Evidently, we can see weak trading across Asian markets despite sharp rally in Wall Street in the previous session. More traders prefer to adopt a wait-and-watch approach to seek for more clarity.

  • Singapore lost US$200 million to software piracy in 2009
  • Sinwa's Q1 net profit falls 34.3%.
  • PEC's Q3 net profit jumps on revenue growth
  • C&O's Q3 profit up, declares 2nd special interim dividend

News Updates:

  1. China’s inflation at 2.8%, retail sales growth of 18.5% and surge in industrial output to 17.8% for April.
  2. Hang Seng Index declines as local property developers reverse.
  3. Mainland Chinese banks drop on fears of monetary tightening after strong April economic data previous gains.

In Summary,

Singapore market ended trading session on Tuesday in negative territory with the blue-chip STI down 22.81 points to 2857.67. Total volume was 1.8128 billion traded.

Traders are still jittery over the impact of the trillion dollar rescue package for the Europe debt crisis, as well as concerns over China’s moves after the news released, and caution ahead of Federal Budget announcement also impacted market sentiment.