Singapore Stock Market Update

Singapore stock prices are mixed  as Wall Street's uninspiring lead on Monday capped demand, with STI opened almost unchanged at 3162.76.

• Global Logistic Properties (GLP), a unit of Government of Singapore Investment Corp, seeks US$2.6 billion in IPO, will offer 1.76 billion shares for sale at $1.96 a share (US$1.50), the company said in a prospectus on the central bank's website. The public offer closes on Thursday and the company will list on the Singapore Exchange on Oct 18.

Watch Out For Economic News Today

1. U.S IBD/TIPP Economic Optimism (Oct)

Corporate Announcements

1. Keppel Land agreed to sell its stake in the first phase of Marina Bay Financial Center to K-REIT Asia for S$1.43 billion, as part of a swap agreement.
2. Keppel secured S$341 million contract for second phase of the Greater Manchester Energy-From-Waste Project in the UK.
3. Tiger Airways reported continued strong growth with 43% increase in passengers during 12 months to September 2010.
4. NOL saw an 6% increase in volume (FEU) and 38% increase in Average Revenue per FEU for the 4 weeks to 17 Sep 10.
5. Yanlord said it had sold 80% of the 167 apartment units during the inaugural launch of Shanghai Townhouse. Total contracted pre-sales for the first two days amounted to RMB1.8 billion.
6. Sembcorp Marine has secured long term contract from Carnival Corp to provide services to its cruise vessels. Carnival is the world's largest cruise operator.

News Updates:

1. The European Central Bank cut bond purchases by more than 99 per cent last week to nine million euros (US$12.5 million), an ECB statement said on Monday, a sign of calmer conditions in public debt markets.
2. Wall Street ends flat on thin volume before earnings.

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	BANY	Banyan Tree Holdings	0.975	0.875		1.08
2	HKLD	Hong Kong Land	6.76	6.32		7.20
3	KPLM	Keppel Corp	9.64	9.36		9.92
4	SCNM	Sembcorp Marine	4.39	4.11		4.67
5	SCIL	Sembcorp Industries	4.81	4.55		5.07
6	NEPS	Neptune Orient Lines Ltd	2.13	2.02		2.24

Stock Prices last updated at 9:00 (Singapore Time)