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Singapore Stock Market Updates On 30/09/10

SGX Warriors
Publish date: Thu, 30 Sep 2010, 10:36 AM
SGX Warriors
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How and What to Trade Singapore Shares with Exact Entries Setup...
Morning Highlights

Singapore stock prices opened slightly lower cue on Wall Street weakness, with STI down 4.06 points to open at 3101.97. Expect choppy market ahead, hence, trade with cautious!

  • Shares of Singapore's property firms with exposure to China fell on Thursday after the world's most-populous country introduced new measures to cool its real estate market, traders said.

Watch Out For Economic News Today

  1. Japan August Industrial Production
  2. U.S Annualised GDP (Q2)
  3. U.S Q2 Personal Consumption
Corporate Announcements
  1. Capitaland's subsidiary, Ascott Ltd, will be operating its first property in Dubai's prime commercial area from 1 Oct 2010.
  2. Keppel Land sets up a new subsidiary in China to own and operate all of its properties in the country

News Updates:

  1. U.S. stocks saddled with modest early losses as investors anticipate Fed steps?.
  2. Liberty Mutual postpones $1 billion-plus IPO, citing economic and market conditions?.
  3. J.P. Morgan Chase is latest to halt some foreclosures to look into 'robo-signer' flap?.
  4. Spain's top credit rating at Moody's Investors Service is at risk as the nation struggles to emerge from recession and reduce its budget deficit, according to a Bloomberg News survey. Workers in the nation interrupted transportation and broadcasts in a general strike yesterday to protest government spending cuts. Ireland is due to announce the cost of bailing out state-owned lender Anglo Irish Bank Corp. today.
  5. Gold futures rose to a record $1,314.80 an ounce, and silver climbed above $22 an ounce for the first time since 1980.

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)

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1 SOGL Sound Global 0.88 0.80 0.96 PROFIT - CLOSED at 0.89
2 HKLD Hong Kong Land 6.43 5.98   6.88  
3 YAZG Yangzijiang Shipbuilding 1.83 1.73 1.93
4 EZHL Ezion Holdings 0.735 0.67 0.80  

Stock Prices last updated at 10:10 (Singapore Time)

Market Recap By MF Global

Wall Street Slips As It Puts September Rally on "Pause" (Reuters) - Wall Street took a breather from a month-long rally on Wednesday, with investors bracing for higher volatility going forward as the best quarter in a year nears its end. The S&P 500 is up 9.1% in September, traditionally a weak month for stocks, as investors anticipate the Federal Reserve will take extra steps to spur economic activity. Still, the VIX futures show the options market has a very high level of skepticism about this rally. "There is still an
elevated bid as traders position themselves for a higher expectation of volatility," said Steve Place, a founder of InvestingWithOptions.com

US House Passes Bill Targeting China Currency (AFP) - US lawmakers overwhelmingly approved a bill Wednesday to punish China for what they branded its unfairly undervalued currency, blaming the weak yuan for killing US jobs weeks before key elections. The House of Representatives passed the legislation by a 348-79 margin, one of its strongest showings against China in years, fueled by deep voter anger at the sour economy and joblessness near 10% ahead of the November ballot. The measure invites the US government to consider Beijing's actions as an improper trade subsidy and expands the powers of the US Commerce Department by allowing it to slap retaliatory tariffs on Chinese Goods. "We do this because one million American Jobs could be created if the Chinese
government took its thumb off the scales," said Democratic House Speaker Nancy Pelosi.

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