There Are No Quick Picks For Today!

Singapore stocks opened higher, with STI at 3110.43. However, index starts falling as many investors are cautious ahead of key inflation data from China.

News Updates:

1. President Barack Obama sent Congress a $3.7 trillion budget that projects the federal deficit will exceed $1 trillion for the fourth consecutive year in 2012 before falling to more "sustainable" levels by the middle of the decade. The deficit for the current fiscal year is forecast to hit a record $1.6 trillion -- 10.9% of Gross Domestic Product -- up from the $1.4 trillion the administration estimated previously. It would be $1.1 trillion in 2012, 7% of GDP. By 2015 it would decline to $607 billion, or 3.2% of GDP.
2. China's CPI rose 4.9% in January from a year earlier, the National Bureau of Statistics said Tuesday, adding that it had reweighted components in the index. 

Corporate Announcements:

1. Olam reported 8.2% year-on-year decline in 2Q11 net profit to $145.8 million.

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Stock Prices last updated at 11:38 (Singapore Time)