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Singapore Stock Market Update For Monday 17 January

By Vivien Chia on | More Posts By | Author's Website
Morning Highlights

Singapore STI headed lower after a positive open at 3255.65, as mainland Chinese banks and property developers dropped on news. Currently, market is suffering from the post cooling effect on our local property sector.

Global News: China stocks traded sharply lower with banking shares plunged following Beijing’s latest increase to required reserves. At the midday break, the Shanghai Composite was down 2.1% at 2,732.75, with Industrial & Commercial Bank of China Ltd 2.8% lower, China Construction Bank falling 3.1%, and Agricultural Bank of China Ltd losing 1.5%.

Losses were more subdued in Hong Kong, with ICBC down 1.5% and CCB off 1.8%, against a 1.3% loss to the Hang Seng China Enterprises Index.

News Updates:

  1. U.S. stocks halted a global drop to extend a seventh weekly gain for the Standard & Poor’s 500 Index as JPMorgan Chase & Co. led banks higher after posting a record profit.
  2. U.S. retail sales climbed in December by 0.6%.
  3. JPMorgan reported a 47% increase in fourth-quarter earnings after reducing reserves set aside to cover bad loans.
  4. China can keep annual inflation at around 4% in 2011 as ample grain and industrial product supplies forestall vicious price rises, a government official said in remarks published on Monday.
  5. Chinese central bank raised their reserve requirements by another 0.5 percentage points on Friday.

Corporate Announcements:

  1. Ezra incorporated a new wholly-owned subsidiary company, EMAS-AMC Pte. Ltd. in Singapore.

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>

Bullish Stocks (Singapore)

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1NOBGNOBLE Group Ltd2.412.31 
2YAZGYangzijiang2.102.00  
3ECSHECS Holdings Ltd0.9750.92  

Our Mid Terms Holdings : Bullish Stocks (Singapore)

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1KPLDKeppel Land4.193.95Overnight, Current Price at 4.69(Entered 12.10.10)
2IFARIndofood Agri Resources2.702.23 Overnight, Current Price at 2.76
(Entered 25.10.10)
3STRLStraits Asia Resources2.682.17 Overnight, Current Price at 2.78 
(Entered 30.11.10)
4SCMNSembcorp Marine5.194.49 Overnight, Current Price at 5.18
(Entered 29.12.10)

Stock Prices last updated at 11:56 (Singapore Time)

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