Market Update - April 2011

Market Update - April 2011

May 1 (Mon) - Labor Day Holiday

30-04-2011: * Dow 12,810 +47
OCBC in narrow range 9.30-9.64, c9.55
OSIM uptrend, testing Resistance 1.72/1.74HH

29-04-2011 (Fri): * Dow 12,763.31 +72
29-04-2011 06:46:14
STOCKS NEWS ASIA-Shares to rise as Wall St rally continues

WELLINGTON, April 29 (Reuters) - Asian stocks are set to shuffle higher on Friday as Wall Street's rally continued on cautious optimism, although volumes will likely be thinned by a holiday in Japan.

The main Wall Street indexes rose between 0.1 percent and 0.6 percent with the Dow Jones Transportation Average closing at an all-time high.

The Transport index gained on solid results for railroad firm Norfolk Southern , with the sector seen as an economic bellwether and an indicator of further gains in the broader market. But gains were tempered by data showing U.S. economic growth weakened while jobless numbers rose, underscoring the Fed's message from the day before that the recovery moderate.

*Asian stocks listed on Wall Street <.BKAS>; rose 0.59 percent.

*Commodity prices <.CRB>; rose, helped by firmer oil prices [O/R], and a weak U.S. dollar.

The greenback fell to a three-year low against a basket of currencies; U.S. dollar on the weak data and the Fed's pledge to maintain supportive monetary policy.

Crude Palm Oil Rises For 1st Time In Four Sessions; Dip Buying

Posted: 28 Apr 2011 04:03 AM PDT

Crude palm oil futures on Malaysia’s derivatives exchange rose Thursday, snapping a four-day losing streak after broad gains in Dalian and Chicago soyoil encouraged dip-buying. The benchmark July contract on the Bursa Malaysia Derivatives ended MYR16, or 0.5%, higher at MYR3,293 a metric ton, after trading in a MYR3,288/ton-MYR3,324/ton range. May soyoil on the Chicago ... (PalmOilHQ.com)

28-04-2011, * Dow +96
*Yangzijiang Shipbuilding - posts 63% rise in 1Q net profit to record $180m
*Bright World - results announcement
13:04:29
* STI up 0.47 percent, seen in 3,180-3,200 in afternoon
* Sembcorp Indus up 2.6 pct on good outlook, valuations
April 28 (Reuters) - Singapore shares gained 0.47 percent by midday on Thursday, buoyed by strength in Asian bourses after the U.S. central bank indicated it would maintain monetary policy at supportive levels for some time.

Sembcorp Industries led gains among blue chips, rising 2.6 percent to S$5.49 on expectations it could benefit from a strong pipeline of oil rig orders and as its valuations remained cheap, traders said.

"Sembcorp Industries is playing catch up after underperforming both Sembcorp Marine and Keppel. The worse is also over for the firm as its utilities operation is turning around," said an analyst from a foreign brokerage. Sembcorp Industries holds a majority stake in Sembcorp Marine, the world's second largest oil rig builder.

By the midday break, the Straits Times Index was up 15.10 points at 3,197.78. The total value of shares traded in the morning session was S$766.5 million, slightly higher than S$753.4 million on Wednesday.

27-04-2011 12:59:30
* Index up 0.5 percent, cap of 3,200 pts eyed
* Mapletree Commercial to debut at 0600 GMT
* Osim International rises on strong Q1 result
April 27 (Reuters) - Singapore shares rose at midday on Wednesday, buoyed by overnight gains on Wall Street and a rise in Asian markets. In the afternoon session, Mapletree Commercial Trust 's trading debut will likely be the highlight of trade.

By the lunch break, the Straits Times Index (STI) was up 0.5 percent, or 15.93 points, at 3,187.76. The total value of shares traded in the morning session was S$753.4 million, higher than the S$595 million on Tuesday. Local traders said the STI may rise more in the afternoon but gains may be capped around 3,200 points.

Keppel Corp shares were up 2.2 percent at S$12 on a volume of 4.9 million shares. Sembcorp Marine rose 1.6 percent at S$5.76 with 2.9 million shares changing hands.

"We still like the oil and gas story. The situation in the Middle East especially in Libya is still far from being settled," said an analyst at OCBC Investment Research. "With high oil prices here to stay, orders especially for deepwater rigs are likely to continue. The talk is that the oil price will stay above $100 a barrel," the analyst added.

Traders said Mapletree Commercial may trade slightly higher than its offer price of S$0.88 per unit as the firm offers a reasonably attractive yield from its properties in prime Singapore locations.

Osim International rose as much as 3 percent after the firm said first quarter net profit surged 150 percent to S$20 million ($16.2 million) from a year earlier. At midday, Osim shares were up 2.4 percent at S$1.70 on a volume of 6.6 million shares.

25-04-2011 10pm

*STI Short-term (S/T) Bullish; Support=20DMA(3135)/~3120/200DMA; Resist=~3230/3280

*KepLand S/T Sideway, R/S=4.6/4.35; dividend announced: 18c

*SembMar L/T uptrend, R/S=6.03/5.74,5.3

*Capitaland S/T uptrend, R/S=100DMA~3.50,3.53/20DMA~3.42,3.34

*BrightWor L/T uptreand, range .505-.655

21-04-2011 12:49:30
* Singapore Index up 0.97 percent, limited upside seen
* Keppel Corp rises on better-than-expected Q1 earnings
April 21 (Reuters) - Singapore shares rose by midday on Thursday on improving risk appetite after U.S. stocks recorded their best session in a month, with oil rig builder Keppel Corp among the gainers on stronger-than-expected first quarter net profit.

By the midday break, the Straits Times Index (STI) was up 0.97 percent, or 30.61 points, at 3,196.41. The total value of shares traded in the morning session was S$1.12 billion, around 53 percent higher than S$732.6 million on Wednesday.

Local traders said there is limited upside to the STI in the afternoon, but support is likely to be at around 3,180 points.

"Right now it's more of a spillover from the strong performance at Wall Street. The longer term trend is still poised upwards and my view is for a much stronger STI," said Phua Ming-weii, an analyst at Phillip Securities.

Commenting on the surge in gold prices, he said: "Gold is a safe haven asset, but at the same time it's seen as a way to hedge against inflation. At this point, risk appetite is coming back so it's certainly not a sign of risk aversion."

Shares of Keppel Corp , the world's largest rig-builder, rose as much as 1.6 percent after posting a 7.8 percent rise in quarterly net profit, helped by better margins from its offshore and marine business. The firm also said that new orders for oil rigs had rebounded. At midday, Keppel Corp shares were trading at S$12.92 on a volume of 4.3 million shares.

Several brokers reiterated their buy calls on Keppel Corp on expectations of more orders for rigs, but RBS downgraded the stock to hold from buy as it believed that increased orders and better margins have already been priced in.

19-04-2011 08:20:27
April 19 (Reuters) - Singapore shares are likely to fall on Tuesday, after debt fears in Europe and the U.S. hurt the outlook for global economic growth and sparked heavy selling on Wall Street overnight.

Singapore Exchange , Asia's second-largest listed bourse by market value, may be in focus after it reported a 10.2 percent drop in quarterly net profit, hurt by costs related to its failed bid for ASX and higher technology spending. SGX's earnings were far worse than expected.

---MARKET SNAPSHOT @ 0010 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1305.14 -1.1% -14.540 USD/JPY 82.53 0.08% 0.070 10-YR US TSY YLD 3.3762 -- -0.004 SPOT GOLD 1492.79 0.77% 11.440 US CRUDE 107.09 -0.03% -0.030 DOW JONES 12201.59 -1.14% -140.24 ASIA ADRS 136.78 -1.46% -2.03 -------------------------------------------------------------

Wall St falls on sovereign debt fears, TI off late. Debt warnings won't always be this easy for US bonds ; Euro knocked by sovereign debt fears, yen shines; Gold hits record near $1,500/oz after S&P move; Oil falls on S&P U.S. outlook cut, demand worry

Stocks and factors to watch: -

- CAPITACOMMERCIAL TRUST , CAPITALAND - CapitaCommercial Trust said its distributable income for the first quarter fell 4.1 percent to S$52.1 million, due to the reduction in rental income after the sale of two of its properties. It had a distribution per unit of 1.84 Singapore cents for the period, down 4.7 percent from a year ago. CapitaCommercial Trust and CapitaLand will jointly redevelop Market Street Car Park, a commercial property in Singapore's central business district, into a grade A office tower. The total project cost is estimated to be S$1.4 billion, it said in a statement.

- KEPPEL TELECOMMUNICATIONS & TRANSPORTATION - said its first quarter net profit before exceptional items rose 10 percent to S$13.9 million, helped by higher revenue from its data centre division.

- Ascendas REIT, which owns industrial properties, said its fourth quarter distribution per unit jumped 19.8 percent to 3.27 Singapore cents, up from 2.73 Singapore cents a year ago, helped by higher gross revenue as new projects were completed.

- Singapore's benchmark Straits Times Index fell 0.28 percent on Monday to 3,144.38 points. The Dow Jones industrial average dropped 1.14 percent to 12,201.59. The Standard & Poor's 500 Index retreated 1.1 percent to 1,305.14. The Nasdaq Composite Index lost 1.06 percent at 2,735.38.

14-04-2011 08:36:17
Singapore Stocks-GDP Data may boost sentiment
April 14 (Reuters) - Singapore shares may see cautious gains on Thursday, boosted by stronger-than-expected first quarter economic data. However, a choppy session on Wall Street overnight is likely to limit gains.

Singapore's first quarter GDP rose 8.5 percent from the year-ago figure, compared with a median of 6 percent from a Reuters poll. The central bank also said inflation in the city-state this year will likely come in at the upper half of its 3-4 percent forecast range. Singapore's central bank separately slightly tightened monetary policy, re-centering its exchange rate policy band upwards and warning inflation was likely to be at the high end of its forecast.

Singapore Press Holdings may be in focus after it said on Wednesday its second quarter net profit fell 33.5 percent from a year ago, mainly due to an absence of earnings from property development.

The Dow Jones industrial average was 0.06 percent higher at 12,270.99. The Standard & Poor's 500 Index gained 0.02 percent to 1,314.41. The Nasdaq Composite Index climbed 0.61 percent to 2,761.52.

14-04-2011 06:00 (Straits Times)
STI rebound on bargain hunting; turnover more robust than past 2 days
- STI up 34.08 pts (1.09%), most active Dyna-Mac rose 4c to 67.5c, SingTel gained 5c to $3.06.
- Most transport firms boosted by lower oil prices, a 2-week low; NOL and SIA up 6c and 66c to 2.01 and 14.10 respectively.
- Rig builders benefited from news of new contracts; Cosco up 8c to 2.32 while KepCorp 10c to12.60. Citi analysts raised Cosco TP (target price) to $3 while DMG&P has a "buy" call on Keppel with a TP of 13.94.
- Hyflux rose 3c, as the water treatment firm plans to sell up to $200M of 6% Class A pref shares to fund its projects.

13-04-2011 08:06:55
April 13 (Reuters) - Singapore shares may fall on Wednesday following overnight losses on Wall Street amid lower commodity prices, while ongoing concerns over Japan's nuclear problems are likely to keep investors at bay. Keppel Corp , the world's largest oil rig builder, may be in focus after it said on Tuesday its offshore and marine unit had secured S$240 million ($191 million) worth of contracts from two international customers.

--MARKET SNAPSHOT @ 2345 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1314.16 -0.78% -10.300 USD/JPY 83.75 0.17% 0.140 10-YR US TSY YLD 3.4923 -- 0.000 SPOT GOLD 1452.69 -0.09% -1.260 US CRUDE 106 -0.24% -0.240 DOW JONES <.DJI> 12263.58 -0.95% -117.53 ASIA ADRS <.BKAS> 137.62 -1.09% -1.52 -------------------------------------------------------------

> Energy drives Wall St lower, Alcoa's results drag. Retail sales may set tone for 10-yr debt auction [US/] > Yen, Swiss franc rally vs dollar; investors shun risk[USD/] > Gold posts biggest fall in month as Goldman warns [GOL/] > Oil slumps on Goldman warning, demand fears .

Stocks and factors to watch: -

- COSCO CORP - Shipbuilder COSCO Corporation said its unit has secured a contract with Seadrill to build a drilling rig valued at $66 million.

- HYFLUX - Wastewater treatment firm Hyflux has requested a trading halt on its shares pending the release of an announcement.

- TTJ Holdings said it has secured contracts worth about S$29 million to supply, fabricate and install structural steelwork, boosting its order book to S$169 million.

- Construction firm Lian Beng said its net profit for the nine months ended February doubled to S$36.6 million, up from S$17.4 million in the year-ago period, due to higher revenue from construction and its property development businesses.

- Straits Times Index <.FTSTI> fell 0.71 percent on Tuesday to 3,138.00 points. The Dow Jones industrial average <.DJI> lost 0.95 percent to finish at 12,263.58. The Standard & Poor's 500 Index <.SPX> retreated 0.78 percent to 1,314.16. The Nasdaq Composite Index fell 0.96 percent to 2,744.79.

07-04-2011 08:37:07
Singapore Stocks- Likely to rise on US; Genting S'pore in focus
April 7 (Reuters) - Singapore shares are likely to rise on Thursday following gains on Wall Street overnight, as stronger commodity prices and firm global markets help to support investor confidence. Shares of casino operator Genting Singapore may be in focus after the Business Times said Las Vegas Sands chief executive Sheldon Adelson suggested that a junket representative could have been operating at its Singapore casino, which is currently not allowed.

--MARKET SNAPSHOT @ 0005 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1335.54 0.22% 2.910 USD/JPY 85.47 0.05% 0.040 10-YR US TSY YLD 3.5527 -- 0.004 SPOT GOLD 1456.79 -0.01% -0.210 US CRUDE 108.57 -0.24% -0.260 DOW JONES <.DJI> 12426.75 0.27% 32.85 ASIA ADRS <.BKAS> 138.98 -0.16% -0.22 -------------------------------------------------------------

> S&P 500 index edges higher on light volume [.N] > Oil price-driven inflation fears hurt bonds [US/] > Euro rise to 14-month high vs dollar before ECB [USD/] > Gold hits record again; dlr down as ECB hike seen [GOL/] > Oil hits 2-1/2-year peak; gains seen slowing

>Stocks and factors to watch: -

- Chinese sportswear maker Eratat Lifestyle said it plans to issue 45 million new shares at S$0.202 each, which represents a 9.7 percent discount to the volume weighted average price of S$0.2238.

- ASIA ENVIRONMENT HOLDINGS - The auditors of Asia Environment Holdings have issued an emphasis of matter, highlighting that the firm had a deficit in net current assets of 574 million yuan ($87.7 million) for the year ended Dec 31, which may cast significant doubt on its ability to continue as a going concern.

- Straits Times Index <.FTSTI> rose 0.75 percent on Wednesday to 3,170.33 points. The Dow Jones industrial average <.DJI> gained 0.27 percent at 12,426.75. The Standard & Poor's 500 Index climbed 0.22 percent to 1,335.54. The Nasdaq Composite Index rose 0.31 percent to 2,799.82.

06-04-2011 14:18:55
Singapore Stocks-Higher at midday on SGX with more upside seen. Gallant Venture surges on DBS' buy call By Eveline Danubrata.
April 6 (Reuters) - Singapore shares rose at midday on Wednesday, shrugging off China's largely expected rate hike, with Singapore Exchange the top traded stock by value after Australia indicated its intention to block the deal with ASX Ltd .

By the midday break, Straits Times Index was up .31 %, or 9.71 points, at 3,156.46. The total value of shares traded in the morning session was S$847.2 million, higher than S$748.6 million on Tuesday. Local traders said the STI could rise more in the afternoon, though gains may be capped at around 3,170 points.

China's central bank increased interest rates on Tuesday for the fourth time since October, raising suspicions that data next week may show inflation rose more than expected in March.

"The STI did take a hit from the China rate hike, just very marginally. But SGX, which is a large component of the STI, is slightly higher today so that could be a contribution," said a market strategist at Saxo Capital Markets.

"SGX has been punished so much. Everyone was saying that they were overpaying for ASX and the stock has been heavily under pressure due to that. Now that the deal seems to be off, the share price should recover back to S$9," he added.

SGX shares rose as much as 1.6 percent and at midday were up 0.8 percent at S$8.40 on a volume of 6.9 million shares. The stock had fallen to as low as S$7.26 after the bourse operator announced its bid for ASX in October last year.

Traders said that blue-chips have largely rebounded on easing concerns about Japan and Libya, so there has been a rotation of interest to the smaller cap stocks.

Shares of Gallant Venture , which develops industrial parks and resorts in Indonesia's Bintan and Batam, rose as much as 16.5 percent after DBS Vickers resumed its coverage on the stock with a buy call and S$0.88 target price. At midday, Gallant Venture shares were up 14.1 percent at S$0.485 on a volume of nearly 100 million shares, around 9 times the average volume in the last 30 days.

05-04-2011 08:08:51
April 5 (Reuters) - Singapore stocks may trade sideways on Tuesday after Wall Street ended little changed overnight and as markets in Hong Kong and China remain shut because of holidays. But rig builders and commodity firms may get a lift from higher oil prices.

Rubber producer GMG Global may be in focus after it said its plantation and processing facilities in the Ivory Coast will temporarily halt operations due to a country-wide curfew and disruption in transportation. Asia Pacific Breweries and parent Fraser and Neave may also be in focus after an APB unit sold its stake in China's Kingway Brewery to GDH Ltd for 1.08 billion yuan ($165.1 million). APB's share of the gain is about S$38 million.

--MARKET SNAPSHOT @ 2343 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1332.87 0.03% 0.460 USD/JPY 84.19 0.07% 0.060 10-YR US TSY YLD 3.4254 -- 0.000 SPOT GOLD 1435.45 -0.08% -1.100 US CRUDE 108.26 -0.19% -0.210 DOW JONES <.DJI> 12400.03 0.19% 23.31 ASIA ADRS <.BKAS> 140.27 -0.02% -0.03 -------------------------------------------------------------

> S&P closes flat, fails to break through resistance [.N] > View Fed will stay the course boosts bonds [US/] > Euro holds below recent peaks; FOMC minutes eyed [USD/] > Gold up, silver hits 31-yr highs on inflation worry [GOL/] > Oil climbs to highest since 2008 on supply concerns.

Stocks and factors to watch: -

- SINGAPORE EXCHANGE - Asia's second-largest listed bourse operator, said on Tuesday its derivatives daily average volume reached an all-time high in March, while securities and clearing activities posted year-on-year growth.

- CAPITALAND - Singapore property developer CapitaLand said on Monday it had sold Citadines Ashley Hongkong in Tsim Sha Tsui, Hong Kong, and the company managing the serviced residence property for HK$283 million ($36.3 million).

- NEPTUNE ORIENT LINES - the world's sixth-largest container shipping firm, said on Monday it carried 12 percent more cargo in the four weeks to March 11 from a year ago, helped by higher traffic on intra-Asia and Asia-Europe routes.

- TIONG SENG HOLDINGS - Singapore construction firm Tiong Seng said on Monday it had won a S$192 million ($152.4 million) building and contingency works contract from the city-state's Housing and Development Board. [ID:nSNZ42md51] - Singapore's benchmark Straits Times Index <.FTSTI> rose 0.65 percent on Monday to 3,140.62 points.

-The Dow Jones industrial average <.DJI> gained 0.19 percent to finish at 12,400.03. The Standard & Poor's 500 Index <.SPX> edged up 0.03 percent to 1,332.87. The Nasdaq Composite Index <.IXIC> was 0.01 percent lower at 2,789.19.

04-04-2011 08:02:13
April 4 (Reuters) - Singapore stocks are likely to open higher as strong U.S. jobs data is set to provide fresh momentum to Asian equity and commodity markets in the new quarter.

Singapore's Keppel Corp , the world's largest oil rig builder, may be in focus after it said that Jasper Investments had exercised an option to order a second jackup rig worth $180 million.

---MARKET SNAPSHOT @ 2349 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1332.41 0.5% 6.580 USD/JPY 84.26 0.14% 0.120 10-YR US TSY YLD 3.4496 -- 0.000 SPOT GOLD 1430.29 0.16% 2.310 US CRUDE 108.37 0.40% 0.430 DOW JONES <.DJI> 12376.72 0.46% 56.99 ASIA ADRS <.BKAS> 140.30 0.72% 1.00 -------------------------------------------------------------

> Wall St gains on job growth; earnings next hurdle [.N] > U.S. rates markets will focus on ECB decision [US/] > Euro extends gains; yen broadly weaker [USD/] > Gold slips on U.S. jobs data, Fed eyed [GOL/] > Oil rises to 2-1/2 yr peak on job rise, supply fear

Stocks and factors to watch: -

- CITYSPRING INFRASTRUCTURE TRUST - Au Yeung Fai, chief executive officer and executive director of CitySpring Infrastructure Management, which is the trustee manager, had resigned, CitySpring trust said in a statement. Chief Financial Officer Tong Yew Heng will be appointed acting CEO of the trustee manager.

-- PARKWAY LIFE REIT - which invests in healthcare assets, said on Friday that all of its 30 properties in Japan have not been structurally affected and continue to be in operation.

- Singapore-listed medical equipment firm LMA International said on Monday it had acquired Vitaid Ltd, a Canadian distributor of medical devices, for C$1.53 million ($1.6 million) as initial payment and then two deferred payments.

- Singapore's Ezion Holdings, which provides services to the offshore oil and gas industries, requested a trading halt on Monday pending announcement.

- Straits Times Index rose 0.47 percent on Friday to 3,120.47 points.

- The Dow Jones industrial average gained 0.46 percent to finish at 12,376.72. The Standard & Poor's 500 Index advanced 0.50 percent to 1,332.41. The Nasdaq Composite Index was 0.31 percent higher at 2,789.60.