SGX Singapore - Live Stock Signals & Updates

Brokerage Mint Partners to start Singapore operations

London-based Mint Partners, which was acquired by interdealer broker BGC Partners Inc in 2010, is expanding into energy brokerage in Asia by starting a middle distillates broking desk next month, industry sources familiar with the matter said.

Interdealer brokers operate in the over the counter derivatives market and act as intermediaries between major dealers to facilitate trades between them. Mint Partners has hired at least two middle distillates brokers, Andrew Pearce and Elliot Pitcher from rival firm ICAP to start the desk in June, the sources, who have knowledge of the situation, said. Four others, two from OceanConnect, one from BGC Radix and one from TFS Energy could also be joining the firm, added the sources, who asked not to be identified. But this could not be confirmed. It is unclear if the brokerage firm plans to offer the whole spectrum of energy products, but one of the sources said it could also be starting a fuel oil and crude oil desk.

Singapore Stock Updates

Goldman Sachs said it recommended buying quality Singapore real estate investment trusts (REITs) with attractive dividend yields as the market emphasises a defensive posture.

"Alongside a rising SGD (Singapore dollar), we believe quality SREITs will outperform as the global macro backdrop remains challenged in the near term," it said. Goldman favoured retail REITs for their visible distribution per unit or organic growth, underpinned by firm tenant sales. Their lower dependence on acquisitions for growth is also a plus, Goldman added.

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Live SGX Share Signals

US stocks dropped with concerns about political upheaval in Europe and the possibility of a softer-than-expected Chinese economy. The S&P 500 Index and the DJIA slipped 1.1% and 1.0% respectively.

- Thai Beverage reported a 46% YoY increase in 1Q12 net profit to THB4.33b (~S$174m). Revenue had climbed 31% to THB40b.

- Global Premium Hotels registered a 47% YoY increase in 1Q12 net profit to S$6.4m on the back of a 29% increase in revenue to S$14.9m.

- Bonvests Holdings' 1Q12 net profit was down 6.5% YoY to S$4.0m. Revenue had grown by 6.5% to S$38.7m.

- Cordlife Group's net profit for 3Q12 fell 57% YoY to S$832k even though revenue rose 13% to S$6.9m.

- Asiatravel.com reduced it 2Q12 loss to S$489k versus S$807k a year ago. Revenue had declined 6% to S$21.6m.

PEC Ltd

Summary: PEC Ltd (PEC) reported a very weak set of 3Q12 results that caught us and the street by surprise. 3Q12 revenue increased by 22% YoY to S$107m, but net profit attributable to shareholders plunged 86% YoY to S$1.3m. Net margin shrank to just 1.2%, compared to the 11.0% in 3Q11. While the group still has a very strong net cash position of S$112m, or S$0.44/share, there is a possibility of PEC incurring further losses over the near-term horizon. Pending a teleconference with management later, we put our Buy rating and S$0.93 fair value estimat.

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Live SGX Singapore Prices & Stock Signals

SGX Stock Tomorrow

Singapore share prices opened lower on Thursday with the Straits Times Index down 11.18 points to 2,889.73 minutes after its open.

Singapore shares are predicted to weigh down on Thursday to weak quarterly earnings from blue chip companies such as Singapore Airlines Ltd, Neptune Orient Lines Ltd and Wilmar International Ltd.

Straits Times Index lost 0.2 percent at 2894.94, hitting a three-month intraday low at 2,887.82

Stock Market for Tomorrow

After yesterdays heavy fall today STI opens with gap but closed above the yesterdays closed and gain 2.69 points @ 2903.60 levels.

On the Daily Graph STI trading near to its previously formed flag patterns resistance line and today it took upport @ this line and made a low of 2887.82 and closed well above that level .if it will cross this than we expect

to come more downwards.

STI formed a candlestick pattern called “Hammer” this type of candlestick formed after a bearish move and Sign recovery in the near term.

SGX Support level for Tomorrow

STI having nearest support @ 2985 level and below this level it can take support @ 2860-2840 which is its 200 day AM level will be the major support zone.

SGX Resistance level for Tomorrow

STI having Resistance @2915 and above this level it may take resistance @ 2935-2950 levels.

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Singapore Straits Times Tinex(STI) Live Updates

Singapore Market Support Tomorrow - 2720, 2690, 2670

Singapore Market Resistance Tomorrow - 2750, 2765, 2785

STI Review

Singapore market started little changed on Wednesday with the key Straits Times Index up 2.07 points or 0.08 % to 2,721.90.investors is cautious in the near term due to the debt woes in the euro zone.

 

STI opens in positive zone and then in the mid day STI stocks up ward traded because of gain in rig builders and STI made a high of 2747.13 very near to its major resistance of 2750 and finally closed with gain of 27.30 points up by 1 % @ day's high of 2747.13.
 

Volume traded was 1,123.1 million, valued at S$1,314.9 million. Gainers outweighed losers 253 to 123.

STI for Tomorrow

Today STI open in the positive zone and it maintain itself to close above 2700 mark as we told in our previous report, which is positive sign for market.

STI crossed and maintain its 50 day MA level of 2721.82 and closed near to major Resistance level of 2750 @ 2747.13 closed @ day High.

STI formed a candlestick pattern called The White Closing Marubozu this is a single candlestick pattern characterized by a long white body with no upper shadow. This is an extremely strong bullish candlestick pattern. The day opens, the prices then slightly go lower creating the lower shadow but then prices continue to go up all day thus forming a long white day. And closes at the high of the day and hence with no upper shadow.

STI opens up and trades also up side and closed near to its 50 day MA level , today also it closed @ day high and near to Resistance of 2750 and we expects that it can crossed this level and if it will do this then STI could be bullish for more 50-100 points. On the other side 2720 mark is the major support level for STI.

STI Support 

STI having nearest support @ 2720 and below this level it can take support @ 2690-2670 level is the major support level.

STI Resistance

STI having nearest support @ 2720 and below this level it can take support @ 2690-2670 level is the major support level.

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