Morning Highlights

Singapore Stocks opened slightly higher today, with the STI up 4.06 points to 2937.62, after US industrial shares lifted the Dow and the S&P 500 to new 15-month highs overnight.

Singapore News Updates:

  1. Olam has agreed to buy 99.5% of the outstanding shares and voting rights in Crown Flour Mills Limited (“CFM”) with its wheat milling and noodle manufacturing facilities along with accompanying additional assets for a total purchase consideration of US$107.6 million. Crown Flour Mills Ltd is amongst the three largest wheat millers in Nigeria, supplying bread flour, noodle flour and semolina to both industrial users and wholesalers in the country.

News Updates:

  1. A Manhattan federal judge on Monday rejected the US Securities and Exchange Commission's effort to expand its lawsuit accusing Bank of America Corp of misleading shareholders over bonuses paid by Merrill Lynch & Co.

  2. Bloomberg reported that China, the engine of recovery from the world’s worst recession since World War II, reported a 55.9% increase in December imports and supplanted the U.S as the world’s biggest auto market.

  3. The balance of most Japanese banks' outstanding loans dropped 1.2% in December from the same month a year earlier, the first yoy fall since January 2006, according to Bank of Japan data released Tuesday.

  4. U.S. Fed earned US$45b in 2009.

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 KLAN Keppel Land 3.79 3.67 3.91
3 WTH Wing Tai Holdings 2.06 1.96 2.16  
4 DBSM DBS Group 15.82 15.24 16.40 CANCELLED
5 BIOS Biosensors International 0.845 0.79 0.90
6 STTS Stats ChipPac 1.21 1.14 1.28  
7 EPIL Epure International 0.92 0.82 1.02
8 MTHL Metro Holdings 0.91 0.855 0.965
9 NVGP.SI Novo Group 0.28 0.215 0.345
10 HIAP.SI Hiap Hoe Limited 0.60 0.515 0.685  
11 AGRN Allgreen Properties 1.32 1.26 1.38
12 JAYA Jaya Holdings 0.67 0.62 0.72  
13 ANIT.SI Ascendas India Trust 1.03 0.96 1.11
14 HLAA Hong Leong Asia 3.17 3.11 3.23 PROFIT – CLOSED at 2.23
15 VENM Venture Corp 9.29 9.10 9.48 Overnight, Current Price at 9.24
16 SWBR Swiber Holdings 1.20 1.10 1.26 LOSS – CLOSED at 1.16
(trend bends)
17 UTES United Engineers 2.10 1.98 2.22 PROFIT – CLOSED at 2.20

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 8.81
2 KLAN Keppel Land 3.38 3.14 3.62 PROFIT – CLOSED  at 3.63
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 15.18
5 STEG Singapore Technologies Engineering 3.27
3.00		 3.12 3.54 Overnight, Current Price at 3.23
6 IFAR Indofood Agri Resources 2.20 1.94 2.05 2.46 PROFIT – CLOSED  at 2.50
7 NOBL Noble Group 3.29 2.95 3.63 Overnight, Current Price at 3.37
8 PARM Parkway Holdings 3.02 2.74 3.30 Overnight, Current Price at 3.09
9 HYFL Hyflux 3.81 3.42 4.20  

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

Afternoon Highlights

Market is in consolidation now. We are looking out for the next sector that is likely to perform. Please note that we will take profit for Indofood Agri (Mid Term Holding) at 2.47 should the price drops to that level.

  • We have a new Trade Opportunity with Hyflux. Refer to Mid Term Quick Pick 9.
  • Next, there is new set up  with Hong Leong Asia. The stock starts to turn around and trend upwards after a steep drop this morning. We are observing it further. To Buy at 3.36, Stop Loss at 3.19 and Take Profit at 3.53 (small risk)
  • Marco Polo broke high of 0.575

In Summary,

Singapore Shares closed down with the STI down 17.42 points to 2916.11. Total volume of 2.8613 billion is traded today.

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We have attached a copy of the upcoming Financial Result Announcement Schedule here.

Financial Result Announcement Schedule