Morning Highlights

Singapore market firmed slightly in opening trade, with STI up 2.65 points at 2860.32, as bargain hunters emerged after a soft close on Tuesday. There are quite a number of picks for today. However, in lieu of market uncertainty, we will enter our trades in small risk.

• Genting Singapore broke 0.98

Watch out for these economic data to be released today:

• Euro-zone will be publishing their Q1 GDP numbers
• U.S. ABC Consumer Confidence and Trade Balance

Corporate Announcements

1. First Resources announced 379.4% growth year-on-year in 1Q10 net profit to US$26.4 million.
2. Wilmar announced 5.6% growth year-on-year in 1Q10 net profit to US$401.4 million.
3. Yanlord Land announced the establishment of a joint venture company and a subsidiary in China.

News Updates:

1. Pound rallies against dollar as conservative leader David Cameron took over as Britain’s prime minister after Gordon Brown stepped down following the inconclusive May 6 election.
2. Dow finishes down 37 points, erasing 90-point intraday gain; Nasdaq edges higher‏‏.
3. Crude oil fell 0.6% in New York amid concern about the global growth outlook and a decline in the value of the euro, which makes dollar-denominated commodities like oil more costly for holders of other currencies. Gold settles at new all-time high of $1,220.3 an ounce‏.
4. Samsung Life rises 7% after US$4.4 billion IPO

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.

Bearish Stocks (Singapore)

Bearish Stocks (Singapore)

Stock Prices last updated at 9.23 (Singapore Time)

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