There Are No Quick Picks For Today!
Singapore market opened mixed, with STI down 41.29 points to open at 3,150.89. Within minutes, index recovered early dip and rose slightly above 3200 now.
New IPO : Nordic Group Limited
Offer size : 110million
Offer price : S$0.20
Commence trading : 10 Nov 2010, 09:00
Underwriter : Collins Stewart
Background: An automation systems integration solutions provider serving mainly the marine and offshore oil and gas industries.
Watch Out For Economic News Today
- Singapore Electronics Sector Index and PMI (Oct)
Corporate Announcements:
- Cosco secured contracts valued over USD 87 million for 3 bulk carriers.
News Updates:
- U.S. ISM said its survey of purchasing managers nationwide revealed strong gains in new orders and production, pushing up its index to 56.9%, from 54.5% in September. The October jump suggested new life in the sector that has been a key driver of the recovery after recession officially ended in June 2009.
- Fed policy makers meet Nov. 2-3 to consider stimulating the world's largest economy through an asset-purchase technique known as quantitative easing. Central bankers are concerned that growth is too slow to curb U.S. unemployment that's stuck near the 26-year high reached in October 2009. (Bloomberg).
- Hong Kong said on Monday retail sales jumped 17.2% year-on-year in September on the back of strong tourist spending and rising consumer sentiment.
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