2nd September 2009

No Sector In Focus for This Morning..

Morning Highlights

Index must not break through 2560.15. It will be good to see that index is able to cover the gap way up to 2588.69. There is a resistance seen at 2618.99.

We have identified a few possible trade opportunities. However, please remember to practice cautious trading – especially enter with small risk for long positions.

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 Yesterday>

Bullish Stocks (Singapore)

Stock Prices last updated at 17.04 (Singapore Time)

Note: As of 11:52, the Moving Averages are pointing down on the STI Daily Charts. To look out for 2521.36

Latest News:

• U.S. manufacturing gauge shows expansion for first time in 18 months.
• Pending U.S. home sales rise in July… however, investors are more worried that more banks will fail and this triggered yesterday’s sell-off on wall street… => Clearly, investors’ sentiments is very important.

• Japan's Nikkei 225 Average dives 2.7% in early trading‏
• Despite regional sell-off, Shanghai's volatile stock market manages to post decent gains, led first by energy and then by financials.
• Raise in target price for Genting ~ Macquarie Research Equities (MRE) raised its target price for Genting Singapore from $0.70 to $1.14 in a note published yesterday. The stock held up above the $1.00 mark despite an afternoon selloff in the index.

Afternoon Highlights

There is a short term bearish sign on STI chart.

Overall, blue chips are very weak. Refer to the charts for more details. Attached below are DBS (weakest among the 3 banks), SIA Engineering & Keppel Corp.