Morning Highlights

Singapore market slipped into negative territory when trading started today as weighed by Wall Street's decline and the Chinese central bank's move toward tighter policy on Tuesday. The STI opened lower at 2906.20.

  • Asia Travel broke high of 0.79
  • Koon Holdings broke high of 0.46 

Asian stock markets suffer broad, sharp declines in the wake of China's surprise decision to tighten its monetary policy.

Singapore News Updates:

  1. CapitaLand has signed a Joint Venture agreement with Hoang Thanh Investment and Infrastructure Development Joint Stock Company, a real estate developer in Vietnam, to jointly develop a 14,000-square metre residential site in Ha Dong District in Mo Lao New Urban Area, Hano.
  2. Keppel Land signed a Joint Venture agreement with Vietnamese partner Tien Phuoc Co. Ltd to develop a 11-ha waterfront residential site for 175 villas fronting the Saigon River in Ho Chi Minh Cit.
  3. Straits Asia Resources has sold 100% of the share capital of Straits Asia Engineering Pte Ltd (SAE) to a consortium including the management team of SAE and Richard Ong, for an aggregate purchase price of US$4mn.
  4. Resorts World is opening its hotels after visitor arrivals in the city-state jumped 8.4% in November, the most in three years. The Singapore Tourism Board said on October 12 that visitor arrivals were still forecast to reach 17 million annually by 2015, as the region overcomes an economic slowdown and health scares such as the spread of H1N1 flu. (Bloomberg).
  5. Up to  $52 billion  construction projects expected 2010 – 2012 (BCA)

News Updates:

  1. The lacklustre performance of U.S stocks came as China ordered banks to set aside more reserves to cool the expansion of the world’s fastest-growing major economy, stoking concern that recovery from the global recession will falter (Bloomberg).

  2. U.S. trade deficit hits above-consensus $36.4 billion in November.

  3. Google warns it could shut down China operations over cyber-attacks‏.

  4. Kraft raises 2009 outlook to 'at least' $2 a share from $1.97 a share previously.S

  5. South Korea's Samsung Electronics Co and Japan's Sony Corp have decided to jointly invest 3.45 trillion Korean won (US$3.07 billion) into their joint venture company S-LCD Corp, the Dong-A Ilbo reported Wednesday.

  6. South Korean December Jobless Rate Rises To 3.5%

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 3.56 3.91
3 VENM Venture Corp 9.32 9.19 9.45 CANCELLED
4 PWAY Parkway Holdings 3.15 3.06 3.24 CANCELLED
5 ADFP Asia Food & Properties 0.685 0.615 0.755  
6 EPIL Epure International 0.92 0.82 1.02
7 MTHL Metro Holdings 0.91 0.855 0.965
8 NVGP.SI Novo Group 0.28 0.215 0.345 Trading Halt
9 HIAP.SI Hiap Hoe Limited 0.60 0.515 0.685  
10 GAGR Golden Agri-Resources 0.66 0.60 0.72
11 SUNT Suntec REIT 1.45 1.37 1.53  
12 SWBR Swiber Holdings 1.22 1.15 1.29
13 VENM Venture Corp 9.29 9.10 9.48 LOSS – CLOSED at 9.21
(closed yesterday)

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 8.76
2 UTOS UOL Group 4.06 3.20 3.74 4.92 Overnight, Current Price at 4.09
3 DBSM DBS Group 15.48 14.34 14.40 16.96 Overnight, Current Price at 15.02
4 STEG Singapore Technologies Engineering 3.27
3.00		 3.12 3.54 Overnight, Current Price at 3.22
5 NOBL Noble Group 3.29 2.95 3.63 Overnight, Current Price at 3.33
6 PARM Parkway Holdings 3.02 2.74 3.30 Overnight, Current Price at 2.96
7 HYFL Hyflux 3.81 3.42 4.20  
8 SIAT Singapore Airport Terminal Services 2.80 2.53 3.07  
9 OCGL Oceanus Group 0.475 0.34 0.61  
10 GENS Genting Singapore 1.32 1.05 1.59  

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

Afternoon Highlights

Market is continuing its correction. Shares remain weak.

In Summary, market closed down 27.72 points to 2888.38 with 2.2475 billion traded. Lookout for the 4 mentioned support in yesterday’s summary.

News Updates:

Japanese Dec. Corporate Bankruptcies Rise 2.1% M-o-M; Down 11% Annually