Singapore Stock Market Updates on 13/10/09
Morning Highlights
Our Focus For Today Is On Small & Mid Caps
STI is resilient to drop. Currently is going through sideway consolidations.
Asian stock markets were mixed today, with some players cautious ahead of key U.S. earnings this week. Mining stocks in Australia were getting a lift after base metals prices rose on Monday.
Hong Kong stocks open up 0.44% on some previously unserved buy orders, but with momentum and volumes low after Wall Street's weak performance overnight.
On the hindsight, the global forecast for the Asian markets is flat with a touch of upside.
Here’s a list of stocks to wait for setups:
- NOL – Look out for low of 1.61
- OSIM – might have short term long positions
- Hyflux – broke high of 3.09
- Asia Travel – broke high of 0.655
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China Taisan - broke high of 0.245
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Olam – broke high of 2.65
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MobileOne – broke high of 1.85
Market broke resistance at 2681.69 at 11:00. A new high of 2687.52 is made. Market has been making 6 consecutive highs since 5th October. A pullback is due anytime from now. To watch out for existing long positions.
With crude oil back trading steadily above US$70 last week and hitting a new 7-week high of US$73.27 last night, investors may be keen to focus their attention on oil-related sectors. Notably, offshore and marine (O&M) stocks such as Keppel Corp, SembCorp Marine and Ezra have closed in the green for five straight days. In a timely fashion, Macquarie Research Equities (MRE) published a note on SembCorp Marine on Friday October 9, shedding light on the new order wins the company could potentially expect… (Read More from Warrants)
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)
| Symbol | Name | Entry | SL | TSL | TP | Remarks | |
| 1 | PROFIT – CLOSED at 0.69 | ||||||
| 2 | SIAT | Singapore Airport Terminal Services | 2.59 | 2.44 | 2.74 |
Bearish Stocks (Singapore)
| Symbol | Name | Entry | SL | TSL | TP | Remarks | |
| 1 | FRNM | Fraser & Neave | 3.81 | 3.93 | 3.69 | Overnight – Current Price at 3.88 | |
| 2 | STAR | Starhub Ltd | 1.93 | 2.04 | 1.82 | ||
| 3 | CTDM | City Development | 9.69 | 9.99 | 9.39 | ||
| 4 | WTH | Wing Tai Holdings | 1.56 | 1.21 | 1.91 | ||
| 5 | CANCELLED | ||||||
| 6 | Mandarin Oriental | 1.23 | 1.31 | 1.15 | |||
| 7 | ECSH | ECS Holdings | 0.445 | 0.50 | 0.39 | ||
| 8 | CRCT | CapitaRetail China Trust | 1.14 | 1.21 | 1.07 | ||
| 9 | CANCELLED | ||||||
| 10 | BANY | Banyan Tree | 0.815 | 0.86 | 0.77 | ||
| 11 | SINO | Sinomem Technology | 0.55 | 0.62 | 0.48 |
Stock Prices last updated at 17.10 (Singapore Time)
In Summary
Singapore shares closed lower on Tuesday with the blue-chip Straits Times Index down 12.07 points to 2,668.40. There is only 1.903 billion traded today.
We have hit and cleared the resistance at 2681.69. However, market is unable to sustain and sell down during the last hour of trading. High chance that we will see market going through consolidation after 6 days of trending.
Singapore News
Prime Minister Lee Hsien Loong announced the extension of the Jobs Credit Scheme (JCS) that was set to expire in December, by another six months through providing two more stepped-down payouts in March and June next year to help firms hold jobs as complete withdrawal of the scheme would add pressure on companies.
Quote of the Day
“Impatience never commanded success.” - Edwin H. Chapin
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