Morning Highlights

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

Singapore Shares opened higher with the STI up 11.35 points to 2924.60. However, it reverse its early gains and start pulling back again.

  • Wilmar broke high of 7
  • CapitaRetail China broke high of 1.30
  • First Resource broke high of 1.11
  • Macquaire Infrastructure Fund broke high of 0.475

Singapore News Updates:

  1. Singapore’s official foreign reserves stood at US$ 187.81 billion in December, down from US$188.90 billion in the previous month, said by MAS on Thursday. A year ago, the foreign reserves were US$174.19 billion.

News Updates:

  1. U.S. Initial Jobless Claims edge up 1000 to 434,000.

  2. The American Bankers Association said on Thursday Consumer Loan Delinquencies dropped in seven categories in the third quarter, including bank card delinquencies, which fell 0.24 percentage point to 4.77% of all accounts.

  3. Bank of England maintains Key Interest Rate of 0.5% and also the size of its quantitative easing measures at GBP 200 billion.

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 SCNB Sembcorp Marine 3.92 3.68 4.16
2 UTOS UOL Group 4.21 4.07 4.35 CANCELLED
3 KLAN Keppel Land 3.79 3.56 4.02
4 HPPS Hotel Properties 2.51 2.35 2.67 CANCELLED
5 UTES United Engineers 2.10 1.98 2.22
6 WTH Wing Tai Holdings 2.06 1.96 2.16
7 BIOS Biosensors International 0.85 0.785 0.915
8 SWBR Swiber Holdings 1.18 1.10 1.26 Broke out but unable to hold, need to observe further
9 CY6U Ascendas India Trust 1.03 0.96 1.11  
10 STTS Stats ChipPac 1.16 1.03 1.29 Overnight, Current Price at 1.17
(Small Risk)

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 8.91
2 KLAN Keppel Land 3.38 3.14 3.62 Overnight, Current Price at 3.64
3 UTOS UOL Group 4.06 3.20 3.74 4.92 Overnight, Current Price at 4.07
4 DBSM DBS Group 15.48 14.34 14.40 16.96 Overnight, Current Price at 15.38
5 STEG Singapore Technologies Engineering 3.27
3.00
3.12 3.54 Overnight, Current Price at 3.26
6 IFAR Indofood Agri Resources 2.20 1.94 2.05 2.46 Overnight, Current Price at 2.42
7 NOBL Noble Group 3.29 2.95 3.63 Overnight, Current Price at 3.31
8 PARM Parkway Holdings 3.02 2.74 3.30 Overnight, Current Price at 3.10

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

Afternoon Highlights

  • Financial One broke high of 0.6
  • Ziwo broke high of 0.44
  • Otto Marine broke high of 0.455

We have revised the entry price for Swiber to 1.20, Stop Loss at 1.10.

On the overall, market is going sideways. It is likely to consolidate for a while, especially after a steep pullback in yesterday’s trading.  It seems that we have more movement from Small Caps today, however, due to market retreats, we will observe further which are the potential Sectors that are likely to breakout after this round of consolidation.

In Summary

Index close up 9.51 points to 2922.76 with 2.5563 billion traded.

On weekly, this week in particular, index is up 25.14 points with 13.4028 billion traded so far.  This is a good start for index as it starts marching towards the 3000 psychological barrier.

Do note that there is a short term resistance at 2945.06 (yesterday’s high).