Morning Highlights

Singapore shares rise slightly, up 11.58 points to open at 2,943.62 after overnight gains on Wall Street. Index is seesawing but still holding up positively. 

  • Global Palm opened under water at 0.425
  • China Sunsine Q1 profit up 179% to S$6.1 million

Corporate Announcements

  1. Straits Asia Resources announced (68)% drop year-on-year in 1Q10 profit after tax to $11.2 million.

  2. Capitaland announced the establishment of indirect wholly-owned subsidiary, Ascott Holdings (Europe) Pte. Ltd.

 News Updates:

  1. U.S. blue chips cling to early gains; Fed decision due at 2:15 p.m.
  2. ‏Senate Republicans block financial-reform bill for third time‏
  3. Fed maintains status quo on rates; it sees an improving but constrained U.S. economy‏.
  4. Handset maker Palm to be bought by H-P for $1.2 billion‏.

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 SIAT Singapore Airport Terminal Services Ltd 2.93 2.74 3.12  
2 UTES United Engineers 2.65 2.51 2.79  
3 WPSL Wheelock Properties Ltd 2.13 1.93   2.33  
4 KPLM Keppel Corp 10.54 9.77   11.32  
5 SCMN Sembcorp Marine 4.51 4.32   4.70  
6 MOIL Mandarin Oriental International 1.77 1.59 1.95
7 STTS Stats ChipPAC 1.21 1.11 1.31
8 MAPL Mapletree Logistics Trust 0.92 0.855 0.985
9 PTGL Pteris Global 0.31 0.215 0.405  

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index eased in late afternoon and went sideways thereafter…

 News Updates:

  1. MCL Land posts US$49 million net profit for Q1
  2. Ho Bee's Q1 net profit up 11.8%
  3. Jardine Cycle & Carriage Limited’s net profit rose by 97% to US$177.8 million for the first quarter 2010.
  4. Thai Q1 GDP growth estimated at 8-9%: ministry

In Summary,

Index up 26.97 points to close at 2959.01, with 1.9014 billion traded.