Morning HighlightsSingapore shares edged higher tracking overnight Wall Street rally,, with STI gapped up 25.44 points to open at 2843.65. No new positions will be entered for any breakouts today, especially in early trades, since overnight Dow Jones is up by 200+ points.
Lookout for Economic News Release For Today:
- U.K. May’s CPI figures
- U.S. May’s Industrial Production
- U.S. May’s Housing and May’s PPI
Corporate Announcements:
- Cosco signed 11 contracts and 4 letters of intent totalling over US$440 million to build 15 units of bulk carriers. Deliveries of the vessels are expected to take place between the end of 2011 and the middle of 2013.
News Updates:
- BP oil well spewing up to 60,000 barrels a day into Gulf of Mexico, scientists now say.
- Best Buy shares retreat as retailer calls first-quarter results below expectations’
- Index of U.S. residential builders’ sentiment falls sharply in June.
- U.S. stocks cling to gains after builder-data disappointment; Dow up 100 after first hour… Dow close up 213 points after day-long rally; energy, technology sectors lead gainers.
- Federal Reserve Bank of New York’s general economic index showed an 11th month of growth.
- Shares of CBOE Holdings rise 13% on Nasdaq after IPO prices at top of forecast range.
- Japan’s Nikkei Average jumps 1.6% in opening minutes; Australia’s S&P/ASX 200 gains 1%.
- Australia’s government will consider treating some sectors of the mining industry differently under its proposed mining tax, but the headline rate of 40 percent is ‘about right’, the prime minister said on Wednesday.
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 | HKLD | Hong Kong Land | 5.18 | 5.03 | 5.33 | ||
| 2 | UOBH | United Overseas Bank Ltd | 19.42 | 18.52 | 20.32 | ||
| 3 | SFLD | Stamford Land Corp Ltd | 0.52 | 0.47 | 0.57 | ||
| 4 | KPLD | Keppel Land | 3.86 | 3.75 | 3.97 | ||
| 5 | EZRA | Ezra Holdings Ltd | 1.86 | 1.72 | 2.00 | Overnight, Current Price at 1.96 |
Stock Prices last updated at 12:56 (Singapore Time)
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