Singapore market got a lift after Wall Street wrapped up its best month in a year following reports of strong earnings that offset the impact of poor economic data. STI gapped up 24.14 points to open at 3011.84.
Other Asia stocks were also trading higher, with Tokyo market spurred by strong earnings reports.
- Sembcorp Industries said on Monday it has increased its stake in Cascal to 96.43%, at US$6.75 per share
- Tiger Airways up 1.5 % in early trade after it announced plans to launch a low cost airline in a joint venture with Thai Airways.
- Tiger Airway broke 2.02 (New Trade Opportunity, to buy at 2.10, Stop Loss at 2.01 and Target Profit at 2.19) – small risk
- Sim Siang Choon broke 0.235
Watch out for Economic News Release Today:
- U.S. July ISM Manufacturing
- Europe July's PMI Manufacturing index (expected to be unchanged from the previous month at 56.5)
- China HSBC Manufacturing PMI in July
Corporate Announcements:
- Keppel Land acquired 1.6 million units in K-REIT Asia as payment by K-REIT Asia of the management fee due to its subsidiary.
- SGX announced 5% increase year-on-year in FY10 net profit to $320.1 million.
News Updates:
- Inflation in China over the past decade has taken pressure off the yuan's foreign exchange rate, bringing the rate closer to equilibrium than it was 10 years ago, the head of China's State Administration of Foreign Exchange tells Caixin Online.
- South Korea's annual consumer price inflation rose 2.6% in July, edged higher from June.
- U.S. economy decelerating as GDP growth slows to 2.4% in second quarter
- U.S. equity benchmarks quickly surrender 1% as investors react negatively to GDP data; Major U.S. indexes edge into positive territory; Dow, S&P 500 erase weekly losses
- U.S. stocks recover losses into close, gaining 7% in July; best Dow, S&P month in a year
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 | 5.45 | 5.26 | 5.64 | ||
| 2 | SIAT | Singapore Airport Terminal Services | 2.98 | 2.88 | 3.08 | ||
| 3 | TAT | Tat Hong Holdings Ltd | 1.02 | 0.945 | 1.10 | ||
| 4 | ATVE | Asiatravel.com Holdings Ltd | 0.515 | 0.465 | 0.565 | ||
| 5 | HBEE | Ho Bee Investment | 1.68 | 1.58 | 1.78 | ||
| 6 | PEC | 0.89 | 0.835 | 0.945 | |||
| 7 | Du Kang | 0.795 | 0.745 | 0.845 |
Stock Prices last updated at 9:05 (Singapore Time)
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