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It hasn’t been a smooth sailing period for us. Indeed, we suffered from the uncertainties and have yet to fully recover from the drawdown.

Life is not a bed of roses. Everyone has barriers and obstacles, and indeed, the journey of investment is full of hurdles. Nonetheless, we take setbacks in our stride…

“Real optimism is aware of problems but recognizes solutions,; knows about difficulties but believes they can be overcome; see the negatives, but accentuates the positives; is exposed to the worst but expects the best; has reason to complain, but chooses to smile.” - Quoted from William Arthur Ward

Singapore Stock Market Updates On 08/03/10

By sgxwarriors

Morning Highlights

Singapore market started strong on Monday, after US jobs data came in better than expected, with STI gapped up 30.87 points to open at 2821.16.

Japanese shares jumped on rise in crude prices that helped to lift the shares of oil firms and a weaker yen further buoyed shares of major exporters. Nikkei added 1.8% to 10,555.25 after tapping a six-week high of 10,567.25, while the broader Topix added 1.6% to 925.14.

The global forecast for the Asian markets is broadly positive, as supported by the strong gains on Wall Street. A surge in commodity prices also is expected to provide support, along with steel, financial, technology and property stocks. U.S stocks have rebounded to their year-to-date highs in January this year.

Visitor arrivals in Singapore are estimated to increase to 11.5 million-12.5 million in 2010, the Singapore Tourism Board reported on Friday.
Singapore will be releasing January Retail Sales numbers on Friday 12th March.

Here’s a list of stocks that breakout today:

Sembcorp Marine broke resistance at 3.91
Ezra broke resistance at 2.34
Osim broke resistance at 0.78
Super Coffeemix broke resistance at 0.725
China Fishery broke resistance at 1.98

Our Market Outlook has shifted from neutral to bullish since index has managed to clear 2800 level. However, financial sector is still weak…

News Updates:

Japan's current-account surplus totalled 899.8 billion yen ($9.93 billion) in January, slimming from a 900.8 billion yen surplus in December but marking a swing from the year-earlier deficit of 1.33 trillion yen, according to Ministry of Finance data released Monday.
Japan February Bank Lending down 1.6% on year, the Bank of Japan said on Monday, standing at 400 trillion yen. That follows a 1.7 percent annual decline in January.
Euro zone will help Greece if it needs be, says Sarkozy.
U.S. jobless rate holds steady at 9.7% as February nonfarm payrolls fall just 36,000.
U.S. consumer credit increased by about $5.0 billion in January following a revised decrease of about $4.6 billion in December; the first time since January 2009, marking the biggest increase since July of 2008.

Important News Release Dates

In U.S.

Tuesday 09/03/10: IBD/TIPP Economic Optimism in March
Wednesday 10/03/10: ABC Consumer Confidence for the week, Bloomberg Global Confidence in March, January’s Wholesale Inventories
Thursday 11/03/10: Initial Jobless Claims and Continuing Claims
Friday 12/03/10: U. of Michigan Confidence and Advance Retail Sales

In Europe

Today 08/03/10: Sentix Investor Confidence in March

In Asia

Wednesday 10/03/10: China’s February Export numbers; Japan’s Machine Orders
Thursday 11/03/10: China’s January Industrial Production numbers, February CPI, PPI and Retail Sales figures; Japan’s Annualized GDP figure for 4Q
Friday 12/03/10: January Industrial Production numbers (Hong Kong & Japan)

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 Last Week>

Bearish Stocks (Singapore)

	Symbol	Name	Entry	SL	TSL	TP	Remarks
1	PWAY	Parkway Holdings	2.96	2.99	3.05	2.93	Overnight, Current Price at 3.0 (Small Risk)

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Market hold well to gains and continue to trade steady throughout the afternoon session.

The Ministry for Trade and Industry (MTI) will lead a multi-agency effort to undertake the feasibility study on nuclear energy in Singapore.
Singapore’s foreign currency reserves amounted to S$264.4 billion in February, down from $266.6 billion in the previous month, the Monetary Authority of Singapore said on Monday.
Gold and foreign exchange reserves amounted to S$261.8 billion in February. SDRs were worth S$2.2 billion, while the city-state’s reserve position in the International Monetary Fund stood at S$376.7 million.

News Updates:

Malaysia, the world's No 2 palm oil supplier, has achieved just 17.9% of its replanting target of 200,000 hectares announced at the end of 2008 to shore up prices, a minister said on Monday.
China will continue to reform its exchange rate policy in a gradual and controlled manner… (MarketWatch)

In Summary,

Index closed up 44.28 points to 2834.57, with 1.4561 billion traded.

As mentioned earlier, we have shifted our market sentiment from neutral to bullish. Will be looking out on all those stocks that broke out today.

Based on chart view, Property Sector is relatively weak too. Attached are Capitaland and City Development for illustration…