Singapore Stock Market Updates On 10/5/11

Morning Highlights

Singapore market starts off positive, holding onto positive side. China's April trade surplus leaps to $11.4 billion. Australian budget expected to be austere.

We expect consolidation to kicks in…

Corporate Announcements:

1. IndoFood requested for a trading halt in an after market announcement yesterday.
2. Wilmar and New Britain Palm Oil Ltd, one of the largest fully integrated industrial producers of sustainable palm oil have agreed to set up an integrated supply chain and joint marketing arrangement for supplying Continental Europe with fully traceable and segregated sustainable palm oil.
3. Olam will invest between A$50-55 million and A$55 million to set up an almond-processing facility in Victoria, Australia to handle up to 40,000 metric tons of almond kernels.
4. China Minzhong announced a 3Q11 net profit of RMB261.1 million, up 92.9% year-on-year (yoy).
5. SembCorp Marine announced a 1Q11 net profit of $150.6 million, a 1.2% yoy increase.

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)

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Stock Prices last updated at 13:50 (Singapore Time)

In Summary

Market edged higher, with STI up 19.32 points to close at 3156.26.

News Updates:

1. U.S. software group Microsoft Corp. is in talks about buying Internet phone firm Skype Technologies SA in a deal that could be valued at around $8.5 billion, according to published reports.
2. UE posts $29.9 million Q1 net profit
3. Toyota Motor Corp's output will likely return to normal two or three months earlier than expected as the supply of parts is stabilising.