Morning Highlights

Our Focus For Today Is On Commodity Sector

STI went flat to open at 2795.08. It is now heading towards yesterday's high of 2803.85.

  • DBS lookout for 15.32
  • OCBC lookout for 8.74 
  • Ezra broke high of 2.11, to wait for setups (New Trade Opportunity, to Buy at 2.16, Stop Loss at 2.10)
  • KeppeLand broke high of 3.18, to wait for setups

News Updates

  • Sales of newly built US single-family homes in October rose more than expected to their highest level in a year, data showed on Wednesday, pointing to a stabilizing housing market after a three-year slump.
  • US consumer spending rose more than expected in October, while new applications for jobless aid last week fell to their lowest level in more than a year.
  • US consumer spending rose more than expected in October as incomes increased, data showed on Wednesday, offering some hope at the start of the 4Q for the nascent economic recovery.
  • New orders for long-lasting US manufactured goods fell unexpectedly in October, according to government data on Wednesday that reinforced views of a gradual economic recovery from recession.

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 YAZG Yangzijiang Shipbuilding 1.22 1.15 1.29
2 FRNM Fraser & Neave Ltd 4.03 3.90 4.16
3 IFAR Indofood Agri 2.01 1.92 2.10
4 MIIF Macquarie International Infrastructure Fund 0.47 0.44 0.50  
5 CMAL.SI CapitaMall Asia 2.32 2.22 2.40 Triggered – Current Price at 2.30
6 NOBG Noble Group 2.94 2.87 2.99 3.01 Took Half Profit at 3.04
Current Price at 3.07
(small risk)

Stock Prices last updated at 20.29 (Singapore Time)

Afternoon Highlights

The STI closed 30.62 points lower at 2,762.22, with 1.13 billion traded. The drop was mostly led by the banks. Among bank stocks, DBS fell 32 cents to $14.76, UOB dropped 52 cents to $19.02 and OCBC eased 17 cents to $8.41.

News Updates

  • U.S. consumer spending up in October‏
  • U.S. durable-goods orders dip in October‏
  • First-time U.S. jobless claims decline to 466,000; stock futures get lift from data‏
  • October new-home sales rise, paced by gains in southern states‏
  • Rates for 30- and 15-year mortgages, along with hybrid loans, hit record lows‏
  • Gold closes at record $1,187 an ounce, climbing for ninth straight session‏