Singapore Stock Market Updates on 13/11/09

Morning Highlights

STI weighed by overnight weakness in Wall Street stocks, opened lower today at 2707.76, down 18.48 points (0.68%).  

Our Focus For Today Is Still On Bank Stocks

SBI Offshore is now trading near to its IPO price of 0.27, might not show good sign, we are watching it closely.

Biosensor broke high of 0.73 – to wait for setups

1. Design Studio's Q3 net profit surges 200%
2. ASL’s Q1 net profit halves to $11.8m, from $23.9 million a year ago, on lower ship chartering revenue.
3. HPL’s Q3 net profit tumbled to S$3.84 million, down from S$13.37 million a year on.
4. Parkway’s Q3 net profit rose 189% to S$32.5 million from S$11.2 million a year ago.
5. Straits Trading’s Q3 net profit jumped to S$70.92 million, compared to S$18.69 million a year ago.
6. Genting Singapore’s Q3 net loss of $93.3 million, compared to a net loss of $116.8 million for the corresponding period a year ago.
7. See Hup Seng’s Q3 net profit fell 53% to S$1.25 million.
8. F&N’s FY09 fell 17.5% to S$359.53 million after taking into account fair value adjustment on investment properties and exceptional items. (F&N’s news release) (Financial Statements)
9. APB’s FY09 rose 39.3% to S$172.40 million including exceptional items. Directors have recommended a final net dividend of 18c per share which together with the interim dividend of 14c per share, bringing total net dividend for the year to 32c per share. This final dividend, if approved by shareholders, will be paid on 10th February 2010 (Business Times)

News Updates

1. Intel said on Thursday it will pay AMD US$1.25 billion as part of the settlement, sending shares of AMD up nearly 30%. The two companies also sealed a five-year cross license deal and said they would give up any claims of breach from their previous license agreement.

2. US Weekly Jobless Claims fell 12,000 to 502,000.

3. United Technologies Corp said on Thursday it will buy General Electric's security business for US$1.82 billion.

4. Average 30-year mortgage rate falls to 4.91%

5. British Airways and Iberia strike deal to merge‏

6. Wal-Mart Stores boosts guidance after forecast-beating 3Q

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>

Stock Prices last updated at 22.20 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
2. City Development – Buy at 10.50, Stop Loss at 9.55
3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
4. Ezra – Buy at 2.08, Stop Loss at 1.66 

Afternoon Highlights

Market opened gap down due to wall street’s poor performance. Index has been trading sideways for the entire morning session and only starts picking up at 15:00.

It is a good sign to see consolidations from the 3 banks as this signify higher chance for setups to form respectively. Therefore, we will seek for trading opportunities to re-enter once the consolidation period ends.

Yanzijiang is added to MSCI. This stock closed at a 10-week high of $1.05 (+6.1% dod) after announcements that it was included in the MSCI Singapore Index. This explains briefly on the sudden surge in price, however, China sector is weak on the overall outlook. Hence, we will exercise small risk when entering this counter. 

• CWT broke high of 0.71 - to wait for setups and increase in its price range.
• CNA broke high of 0.395 – to wait for setups

In Summary,

STI managed to close up 0.99 at 2727.23 with 1.1365 billion traded today.

We advise to avoid trading China Stocks, Property Stocks and shares from Shipping & Marine Sector for the time being.