Morning Highlights

Our Focus For Today Is On Property, Commodity & Financial Sector – Short Selling

The Asian stock markets were broadly higher Thursday following a rise on Wall Street after the U.S. Federal Reserve left interest rates near zero as expected.  Singapore shares also rise in morning trading with the key STI up more than 30 points in the first 30mins of trading.

Market staged a 1st rebound after 5 straight down days. During first 15min, we experienced a 33 point surge and currently market seems to be exhausted. We will see how trading is like after the lunch break.... if index can hold on to today's gain, we will shift our market sentiment to neutral. We do expect thin volume transacted today, and also market to be very choppy.

Corporate Announcements

  1. Keppel Corp’s Keppel FELS unit has secured a contract from Aramco Overseas Company B.V., a subsidiary of Saudi Aramco, the world’s largest producer and exporter of crude oil and natural gas liquids, to build a customised KFELS Super B Class jackup rig
  2. Olam will be issuing S$250 million 4.07% notes due 2013. The notes are expected to be issued on 12th February 2010 and mature on 12th February 2013

News Updates

  1. U.S. December's seasonally adjusted sales of new homes fall 7.6%, at lowest since March.
  2. Fed leaves rates unchanged, says recovery is likely to be moderate‏.
  3. The Dow and S&P 500 end positive in wake of Fed's decision. However, investors’ risk appetites still have not fully been restored, as the U.S dollar rose against 14 of 16 counterparts, and one month Treasury bill rates turned negative earlier for the first time in 10 months on demand for safer assets
  4. Apple to price iPad starting at $499, with costliest device at $829‏.

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. 

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 ZOBE Z-Obee Holdings 0.41 0.34 0.48

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 STEG Singapore Technologies Engineering 3.09 3.20 2.98  
2 GUOC Guocoland 2.17 2.29 2.05
3 SIAT Singapore Airport Terminal Services 2.42 2.64 2.20
4 YNLG Yanlord Land 1.70 1.91 1.49 Triggered, Current Price at 1.70
5 NOBG Noble Group 2.84 3.06 2.62  

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

Afternoon Highlights

The market is still holding up to its early gains so far.

News Updates

President Barack Obama on Wednesday used his first State of the Union speech to call for a host of job creation measures and a redoubled effort to finish health-care reform… (read more)

In Summary,

Market is up 51.42 points to close at 2757.6 with 1.5808 billion traded.