Morning Highlights

Our Focus For Today Is on Commodity Sector and Selected Property Stocks.

Singapore stocks started firm today, following US overnight gains. STI opens up at 2784.21 and is now retesting resistance at 2803.51. We advise to trade with cautious.

UOL broke high of 3.72, to wait for setups.

We are on the lookout of the low created at 2784.21. Till now, market is still consolidating, seems like there is yet enough strength to climb up.

Updates On Dubai:

Dubai World began talks with banks to restructure US$26 billion of debt, including US$3.5 billion owed by property unit Nakheel and said that the remainder of its liabilities are on 'a stable financial footing'

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 KLAN Keppel Land 3.22 3.08 3.36 Overnight – Current Price at 3.23
(Small Risk)
2 NOBG Noble Group 3.11 2.97 3.25
3 CMAL.SI CapitaMall Asia 2.40 2.24 2.56  
4 EZRA EZRA Holdings 2.20 2.14 2.26  
5 UTOS UOL Group 3.79 371 3.82 3.87 Triggered – Current Price at  3.98
(Small Risk)
6 IFAR Indofood Agri 2.08 1.99 2.17 LOSS – CLOSED at 2.06
(Small Risk)

Stock Prices last updated at 17.47 (Singapore Time)

Afternoon Highlights

We have closed our position for Indofood Agri at 2.06 as the stock appears sluggish and that the volume traded so far is low. There is no buying momentum, hence, we are focusing only on property stocks now.

City Development to lookout for high of 10.60.

Gold miners enjoyed a sizable rally on Wednesday, particularly in Australia and China, with prices for the precious metal climbing to a fresh record high and growing speculation that Beijing will boost its gold purchases to offset the U.S. dollar's decline. (MarketWatch)

In Summary,

Index up 25.39 points to close at 2796.34 with 1.2599 billion traded. Banks and financial companies were leading gains across most of the region as concern about the industry's exposure to Dubai's debt burden began to subside.

Our primary focus now is on property stocks given that Keppel Land and UOL are performing well, especially UOL is outperforming the market.

On a final note, we will take half profit for UOL should the price falls to 3.92 and trail the rest according to our trailing stop loss.