Morning Highlights

STI opens flat at 2742.23. Our stand stays at neutral, observing further on market’s movement for today.

Do expect choppy session for the next few days.

Datas For The Week

  1. U.S. Personal Income and the January ISM Manufacturing release tonight on 01/02/10. Pending Home Sales in December scheduled on tomorrow at 02/02/10. U.S Consumers’ Confidence level and Job Numbers on 03/02/10. Change. Lastly, January Non-Farm Payrolls will be out on 05/02/10.
  2. The European Central Bank will announces its interest rates on 04/02/10.
  3. Next, China has released its PMI today:  January Manufacturing PMI 55.8 Vs 56.6 In Dec. Following next, would be Singapore’s PMI on 02/02/10 and Hong Kong’s PMI on 03/02/10

  News Updates

  1. Toyota Motor Corp's crippling sales shutdown of eight models due to a US safety recall will continue until at least mid-February. In addition to suspending sales, Toyota has said it will shut production of the eight recalled models at six US and Canadian factories for at least from Feb 1-5.
  2. U.S. economy grows at better-than-forecast 5.7% annualized pace in fourth quarter‏.
  3. Dow closes lower Friday; index's 3.5% loss for January is biggest in 11 months‏.
  4. Consumer sentiment hits two-year high, Reuters/University of Michigan survey shows.
  5. Electric-car maker Tesla Motors files for IPO, seeks to raise up to $100 million.
  6. South Korea reported its first monthly trade deficit for the past 12 months, posting a shortfall of US$470 million in January compared to a surplus of 3.09 billion in December.‏‏
  7. Australian House Prices Up 5.2% In Q4.
  8. UK Home Prices +0.1% On Month, -0.8% On Year.

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. 

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 SIAT Singapore Airport Terminal Services 2.42 2.64 2.20
2 UOBH United Overseas Bank 17.88 18.40 17.36
3 DBSM DBS Group 13.98 14.46 13.50
4 OCBC Oversea-Chinese Banking Corp 8.07 8.37 7.77
5 CATL Capitaland Ltd 3.73 3.89 3.57
6 SCMN Sembcorp Marine 3.30 3.44 3.16
7 NOBG Noble Group Ltd 2.84 3.06 2.62 CANCELLED
8 STRL Straits Asia Resources 2.09 2.25 1.93
9 IFAR Indofood Agri Resources 1.90 2.09 1.71
10 BANY Banyan Tree 0.695 0.76 0.63
11 SITT Sinotel Technologies 0.54 0.60 0.48
12 SINO Sinomem Technologies 0.465 0.54 0.39
13 SIAL Singapore Airlines 13.42 14.02 12.82
14 UTOS UOL Group 3.69 3.89 3.49 CANCELLED
15 SCIL Sembcorp Industrials 3.42 3.60 3.24
16 WPSL Wheelock Properties 1.89 2.05 1.73
17 AEMN Ascendasreit 1.84 2.01 1.67  

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

As mentioned earlier, we will not be entering any position today due to market uncertainty even if there is any breakout for any stock in the Quick Picks. Market remains choppy and weak.

Singapore is targeting to grow the number of local enterprises with revenues over S$100 million to 1,000 by 2020, a government appointed panel said on Monday.

Source from The Edge Analysis: 

  • Long Term: Flattening
  • Medium Term : Downturn
  • Short Term : Bottoming

Region's stock markets retreat early on following last week's Wall Street losses, but then turn positive in Hong Kong, Seoul, Mumbai.

In Summary,

STI closed down 9.18 points to 2736.17 with 1.3375 billion traded. Market remains weak in quiet trading.

Please do note that we will refrain from trading the market now since there is too much uncertainty. The Quick Picks is our watch list. Should there be any stocks that breakout within the list, we will access   the stock performance in real time to determine whether it is suitable for our entry. Do trade cautiously.