Singapore Stock Market Updates On 11/12/09

Morning Highlights

Our Focus For Today Is On Mid Caps, Oil & Gas, China and Healthcare Sector

Singapore Market opened steady following gains in Wall Street overnight, however, so far the index movement has been very limited during the first 30mins of trade. It seems that many investors are on the sidelines, waiting for cues from a raft of Chinese data with November's inflation, retail sales, industrial output, fixed asset investment and trade among the reports due later in the day. High chance we might see consolidation between 2770.95 – 2808.18 for now.  

• Tiong Woon on the lookout
• HIP on the lookout

We are watching on Ezra too, to Buy at 2.27, Stop Loss at 2.14. However, if the order is not triggered today, we will cancel.

Corporate Announcements
Keppel Corp has secured contracts worth $160 million for a Floating Production Storage and Offloading (FPSO) vessel conversion, a Derrick Lay Barge completion and the life extension of a semisubmersible rig

News Updates:

1. Financial markets received another rude shock when Spain became the latest target of the international credit rating agencies, following a downgrade of Greece earlier this week. (Business Times)
2. The trustee in charge of liquidating Lehman Brothers Holdings Inc's brokerage business won court approval on Thursday to transfer about $1.6 billion to $1.7 billion of customer property to new accounts at Barclays Plc… (REUTERS)
3. Citigroup plans US$15 billion offering to repay bailout (Read Full)

4. The number of people filing claims for state unemployment benefits rose by 17,000 to a seasonally adjusted 474,000 in the week ending Dec. 5, while the total number of people claiming benefits of any kind topped 10 million, a sign of very sluggish hiring, the Labor Department reported Thursday.

5. Goldman Sachs top management won't receive cash bonuses this year‏.

6. China consumer prices rise for the first time in 10 months in November, as the recovery picks up pace, while industrial production expands by a better-than-expected 19.2%, among just-out data.

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. 

Stock Prices last updated at 17.30 (Singapore Time)

Here’s Our Mid Term Holding Opportunities:

1. OLAM – Buy at 2.88, Stop Loss at 2.42 CANCELLED 

Afternoon Highlights

Market has recovered from yesterday losses in the morning session. Index started to go sideway for the rest of the afternoon session.

Hock Lian Seng Holdings has registered their prospectus
IPO Commence  Trading: 21 December 2009
Offer Price: $0.25 on Mainboard
Issue Manager and Underwriter: UOB

• Ryobi Kiso Holding Limited lodged prospectus
• Debao Property Dev Ltd lodged prospectus
• CapitaRetail China broke high of 1.26, to lookout for setups

On 10 December 2009, Deloitte Touche Tohmatsu’s Technology, Media & Telecommunications Industry Group announced the results of the eighth annual Technology Fast 500 Asia Pacific Program. Biosensors and Sunpower made it to the Deloitte Technology Fast 500 Asia Pacific list.

In Summary,

Index close up 18.89 points to 2800.75 with 1.2589 billion traded. We hope to see an increase in range and volume for index in  the coming few weeks.

Last but not least, we are on the lookout for SC Global.