There Are No Quick Picks For Today!
Singapore shares up slightly, with STI opened at 3150.89. Index is seen challenging towards 3200.
- Shares of Singapore-listed Golden Agri-Resources rose 5.4% to $0.685 on Monday, boosted by news palm oil refiner Mewah International has set an indicative price for its IPO.
Watch Out For Economic News Today
- China Oct PMI Manufacturing (China Federation of Logistics and Purchasing's PMI rose to 54.7 in October, from September's 53.8, indicating momentum in the Chinese economy remained strong and supporting last month's surprise decision by the country's central bank to hike interest rates.)
- U.S Oct ISM Manufacturing
Corporate Announcements:
- Capitaland reported a 43.3% year-on-year decrease in 3Q10 net profit to $159.6 million.
- Keppel Corp received $1.1 million bonus for early delivery of Floatel's vessel.
- UOB reported a 37.5% year-on-year increase in 3Q10 net profit to $688 million.
News Updates:
- U.S. GDP growth accelerates to 2%; consumer spending at highest level since 2006
- Nasdaq manages modest gain early Friday, but Dow and S&P are mired below flat line, following consumer-confidence report
- U.S. stocks close near flat line; Dow sees second monthly gain and best October since 2006.
Quick Tip: 3200 is a tough nut to crack. We will expect the index to dance around this point. Nonetheless, a breakthrough of 3200 is definitely imminent
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