Morning Highlights

Our Focus For Today Is On Property, Oil and Gas Sector

Singapore Share prices edged higher on Wednesday with the key Straits Times Index up 9.61 points to 2929.89.

  • United Engineer broke high of 1.88

Singapore News Updates:

  1. Genting Singapore said on Tuesday it will open the first phase of its Singapore integrated resort on Jan 20, starting with four hotels.
  2. ASTI Holdings and Advanced Systems Automation request for trading Halt.
  3. Midas has clinched two contracts totalling RMB60.6mn to supply aluminium alloy extrusion profiles for a total of 315 train cars for two metro projects in Singapore and the PRC.
  4. Capitaland announced its Urban Suites Phase One has been fully sold. A total of 60 units, the units were sold at S$2,400 to S$2,700 psf.
  5. UOB trading halt pending announcement
  6. New Trade Opportunity with Straits Asia, refer to Short Term Quick Pick 3
  7. New Trade Opportunity with Venture, refer to Short Term Quick Pick 4

News Updates:

  1. The Japanese government has accepted Finance Minister Hirohisa Fujii's offer to resign because of his poor health, Kyodo News reported on Tuesday, citing a ruling party lawmaker.

  2. New orders at US factories rose 1.1% in November in their third straight increase and inventories grew for the second month in a row, according to government data released on Tuesday that showed continuing recovery in manufacturing.

  3. US pending home sales down 16% in November after October figures were stoked by race against tax-credit deadline.

  4. GM’s December U.S. sales drop by 6.1%

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 SGXL Singapore Exchange Ltd 8.35 8.21 8.49 Touched but NOT ENTERED
2 D5N Z-Obee Holdings 0.29 0.175 0.405
3 STRL Straits Asia Resources 2.70 2.53 2.87 Triggered, Current Price at 2.72
4 VENM Venture Corp 9.07 8.92 9.22 PROFIT – CLOSED at 9.16

Here’s Our Mid Term Holding Opportunities:

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 OCBC Overseas Chinese Banking Corp 8.83 8.15 8.55 9.51 Overnight, Current Price at 9.08
2 KLAN Keppel Land 3.38 3.14 3.62 Overnight, Current Price at 3.70
3 UTOS UOL Group 4.06 3.20 3.74 4.92 Overnight, Current Price at 4.14
4 DBSM DBS Group 15.48 14.34 14.40 16.96 Overnight, Current Price at 15.58
5 STEG Singapore Technologies Engineering 3.27
3.00		 3.12 3.54 Triggered, Current Price at 3.33
6 IFAR Indofood Agri Resources 2.20 1.94 2.05 2.46 Overnight, Current Price at 2.43
7 NOBL Noble Group 3.29 2.95 3.63 Overnight, Current Price at 3.32
8 PARM Parkway Holdings 3.02 2.74 3.30 Overnight, Current Price at 3.03

Stock Prices last updated at 17:05 (Singapore Time)

Afternoon Highlights

STI up higher at noon. Next, we have closed our position for Venture as the trend bends.

Tiger Airways, the budget carrier part-owned by Singapore Airlines, plans to sell shares in an IPO for $1.35 to $1.65 apiece (Singapore Dollar)

News Updates

  1. GMAC expects US$5b 4Q loss, selling mortgage assets
  2. South Korea Q1 manufacturing sentiment at Q3 low
  3. New data this week show China continuing its ascent into economic superpower status, rising above Germany as the world’s top exporter and overtaking the U.S. in domestic auto sales, according to reports

In Summary,

Singapore shares closed higher on Wednesday with the blue-chip STI up 10.21 points to 2930.49, with 2.6540 billion traded.

We have good price movement from these stocks, namely, Wilmar, Straits Asia and Noble.

Indofood Agri leads the sector first; currently going through consolidation after its initial run.

Next on our lookout list is Commodity Sector.