Morning Highlights

STI opens up 0.67% at 2750.35 and continues to trade higher. Currently, it is going through sideway consolidations.

Parkway broke high of 2.71, to wait for setups.

Australia’s central bank increased its key cash rate by 25 basis points to 3.75%, easing back the emergency scaling now that economy is recovering .

Sands China Ltd dropped on its first day of trading in Hong Kong after raising HK$19.4 billion (S$3.46 billion) in the city's second-biggest IPO this year.

Updates On Dubai (New York Times)

Abdulrahman Al-Saleh, director general of Dubai’s finance department, said Monday that Dubai World was not guaranteed by the government, and the creditors would need to “bear some of the responsibility” for the company’s debt.

The first test of what that means for investors may happen around Dec. 14, when payments on a $3.5 billion Shariah-compliant bond owed by Dubai World’s real estate subsidiary, Nakheel, come due. If Nakheel defaults on its payment, legal proceedings may be initiated. 

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 KLAN Keppel Land 3.22 3.08 3.36 Triggered – Current Price at 3.27
(Small Risk)
2 PARM Parkway Holdings 2.77 2.72 2.82
3 EZRA EZRA Holdings 2.20 2.14 2.26  

Stock Prices last updated at 17.52 (Singapore Time)

Afternoon Highlights

Indofood Agri broke high of 2, to wait for setups.

Market manage to cover yesterday’s gap and close up 38.83 points at 2770.95. However, the rise is done with little volume traded which indicates weak buying momentum. Hence, our stand is still neutral yet veered towards the bullish side. If you are trading on your own, please execute with small risk.

Winquote - pdfMachine from Broadgun Software, http://pdfmachine.com, a great PDF writer utility! A support is seen at 2715.04 and a resistance level at 2803.51.

News Updates:

  • Gold hit record highs at US$1,198.70 an ounce in Europe on Tuesday as the dollar weakened against a basket of currencies after policy comments from the Bank of Japan, adding to strong investment demand for the metal.
  • Liang Huat Aluminium has been awarded a S$7.2 million sub-contract by the Far East Organization to supply aluminium and glazing works at the condominium project, JARDIN which is expected to be completed by mid-2011.
  • SPH announced today that it will restore 50% of the pay cuts introduced in April 2009. SPH will also give special one-off amounts to staff to thank them for the sacrifice they made. The restoration will be effective January 1, 2010 and the special one-off amounts would be paid at the end of January.