Morning Highlights

Singapore market edged up after sharp overnight gains on Wall Street, with STI gapped up 35.21 points to open at 2896.24.

  • Jardine C&C broke high 31.68
  • Wilmar broke high 6.05
  • F&N broke high 5.30

New IPO : Smartflex holdings (listing at Catalist)
IPO size : 13 million
IPO price : S$0.22
Underwriter : CIMB
Commence Trading : 19th July 2010

Watch out for Economic News Release Today:

  1. ECB’s announcement on any interest rate changes

Corporate Announcements:

  1. Capitaland’s subsidiary, Ascott Limited, has secured contracts to manage two more serviced residence properties in Xi’an and Shenzhen.
  2. Keppel Land’s Ocean Financial Centre is now about 63% pre-committed after securing latest tenants ANZ and BNP Paribas.
  3. OCBC’s subsidiary has divested its stake in PT NISP Sekuritas, an Indonesian securities firm, for a consideration of approximately IDR46 billion or S$7 million.

News Updates:

  1. Dow Jones industrials surge more than 100 points, led by financials; Dow surges 275 points in biggest one-day gain since May 27
  2. Dow industrials up 200 points in final hour of session; Dow industrials above 10,000 level for first time since June 29
  3. Japanese shares jump out of open, tracking U.S. rally; Nikkei Average up 2.5%.
  4. Malaysia's manufacturing sales rose 19.9% in May from a year earlier, the Department of Statistics said on Thursday.
  5. Australian market hitting a fresh seven-day high after a stronger-than-expected June employment report, which lifted the Australian dollar and 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.

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 LAP:SG Lion Asiapac Ltd 0.35 0.255 0.445  
2 OCBC Oversea-Chinese Banking Corp 8.96 8.69 9.23  
3 CCM Holdings 0.385 0.325 0.445  

Stock Prices last updated at 17:05 (Singapore Time)

Afternoon Highlights

Index is holding on to its early gains…

News Updates:

  1. International Monetary Fund raised its global economic growth forecast.
  2. Malaysian state investor Khazanah, which has bid US$835 million to double its stake in Singapore hospital operator Parkway Holdings, has extended its offer to 5.30pm (Singapore time) on Monday, July 26 2010. India's Fortis Healthcare and its founding family are battling Khazanah with a general offer to buy Parkway for $3.80 (US$2.74) a share, above Khazanah's $3.78 a share offer.

In Summary

Singapore market finished higher, with STI rose 36.12points to close at 2897.15. In the broader market, gainers beat losers 3 to 1 in a volume of 1.25 billion shares valued at $1.35 billion.