Morning Highlights

Singapore market rose slightly in opening trade with the STI up 6.38 points to open at 2840.95.

Other Asian stock markets traded largely flat after a mixed lead from Wall Street with many in the market looking to China for cues.

Corporate Announcements:

  1. CapitaMalls Asia announced that it has entered into an agreement with CapitaRetail China Development Fund II to acquire an integrated development comprising retail, residential and office components in Chengdu, China, for RMB554.2 million (S$114.0 million).
  2. Tiger Airways announced that of the proceeds raised from the company’s initial public offering, approximately S$34.2 million has been utilised to fund their acquisition of aircraft and associated aircraft pre-delivery payments; and approximately S$18.5 million has been utilised for working capital.

News Updates:

  1. MetLife Inc. Sprint to acquire AIG's ALICO unit for $15.5 billion‏; AIG climbed 3.6% after agreeing.
  2. MacDonald’s Corp gained 2.3% after global sales topped estimates. 
  3. Northrop Grumman says it will not bid for U.S. aerial tanker contract.
  4. Bloomberg reported that gains in U.S stocks may slow because equity mutual funds are burning through cash at the fastest rate in 18 years, leaving them with the smallest reserves since 2007. Cash dropped to 3.6% of assets from 5.7% in January 2009, leaving managers with US$172 billion in the quickest decrease since 1991, Investment Company Institute data show.‏
  5. President Barack Obama continued his push for healthcare reform today, pressing lawmakers to approve the controversial reform bill by March 18th, with the final legislation aimed for an Easter time signing.

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 GPAK Goodpack Ltd 1.58 1.46   1.70  
2 SIAE SIA Engineering Co Ltd 3.72 3.55 3.89
3 ASRT Ascott REIT 1.27 1.15 1.39 NOT ENTERED

Bearish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 PWAY Parkway Holdings 2.96 2.99 3.05 2.93 LOSS – CLOSED at 3.01

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Market is mostly flat… Though Ascott touched 1.27, we did not trade this counter as the share movement is rather tight…

Here’s a list of stocks that broke its inertia:

  • NOL broke 1.98
  • Tiger Airway broke high at 1.61
  • CWT broke 0.99
  • New Trade Opportunity with Yanlord (To buy 2.01, Stop Loss 1.95 and Take Profit at  2.07) – Triggered, Current Price at 2.00 (small risk)

In Summary,

Index up 4.97 points to close at 2839.54, with 1.1739 billion traded.