Singapore Stock Market Updates On 10/11/10

Singapore stocks opened mixed on Wall Street losses. with STI down 4.38 points to open at 3309.23.

Watch Out For Economic News Today

1. China Oct Trade Balance
2. U.S Sept Trade Balance

1. Wilmar reported a 60.3% year-on-year decline in 3Q10 net profit to US$259.5 million.
2. Biosensors reported a 31.6% year-on-year increase in 2Q11 net profit to $8.5 million.
3. Noble reported a 19.2%% year-on-year increase in 3Q10 net profit to US$157.6 million.

News Updates:

1. U.S. stocks fell for a second day and Treasuries slid, sending the 30-year yield to a five-month high, while the dollar rose as investors questioned the potential effects of the Federal Reserve's plan to stimulate growth.
2. China's Dagong Global Credit Rating Co. reduced its rating for U.S. debt to A+ from AA, citing a deteriorating intent and ability to repay debt obligations after the Fed announced more monetary easing. The credit outlook for the U.S. is "negative," as the Fed's plan to buy government debt will erode the value of the dollar and "entirely encroaches" on the interests of creditors, analysts at Dagong said in a statement. (Bloomberg)

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Stock Prices last updated at 9:50 (Singapore Time)