Singapore Stock Market Updates: Focus On Commodity And Offshore Marine

Morning Highlights

In response to Wall Street strong earnings overnight, Singapore Market opened higher at 2698.55.

Our Focus For Today is On Commodity and Offshore Marine

Ramba has on 22 October 2009 entered into a term sheet (the “Term Sheet”) with Mr. Heng Yew Khiang (”Vendor”) to acquire 50% (fifty per cent) of the total issued shares (”LSP Shares”) in the capital of LSP Pte. Ltd. (”LSP”) for a total aggregate purchase consideration of S$2,508,086.25 (the “Purchase Consideration”) upon the terms and subject to the conditions of the Term Sheet.

News Updates:

• Delta Air Lines Inc, the world’s biggest airline which merged with Northwest Airlines last year, reported a quarterly net loss of US$161 million on Thursday due to special charges (US$212 million), but operating earnings beat Wall Street expectations. Excluding the charges, the company reported a profit of 6 cents per share.(REUTERS)
• U.S. home prices fell by a seasonally adjusted 0.3% in August, bringing the 12-month decline to 3.6%, the Federal Housing Finance Agency said on Thursday. The regulator’s monthly index is calculated using purchase prices of houses financed with mortgages that have been sold to or guaranteed by mortgage finance companies Fannie Mae or Freddie Mac. (REUTERS)
• Nokia sues Apple for patent infringement. Ten patents in the case - filed in Delaware, United States - relate to technologies fundamental for devices using GSM, UMTS and/or local area network (LAN) standards, Nokia said. Apple Inc shares trading in the US briefly dipped on the news and were 0.5% up at US$206.04 by 1455 GMT.(REUTERS)
• McDonald’s Q3 net income rose to US$1.26 billion from US$1.19 billion a year earlier. (REUTERS)
• Amazon posts 69% spike in net income; sales also exceed estimates‏

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)

Stock Prices last updated at 9:29 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

1. Fraser & Neave - Buy at 4.02, Stop Loss at 3.76
2. Allgreen Properties - Buy at 1.21, Stop Loss at 1.04
3. City Development - Buy at 10.50, Stop Loss at 9.55
4. Wing Tai Holdings - Buy at 1.75, Stop Loss at 1.55
5. Ezra - Buy at 2.08, Stop Loss at 1.66
6. Lookout for Keppel Corp

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