Singapore stocks make up lost ground as buyers return after yesterday’s sell-off. STI +1.7% at 2,696.70 midday vs morning low of 2,673.61 (+0.9%). If benchmark manages to clear 2,700 in post-lunch session, next resistance expected at this week’s high of 2,748, according to Dow Jones.
Posts Tagged ‘AmFraser’
STI +1.7%, but visibility clouded, says AmFraser
May 26th, 2010 |
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Goodpack cut to Accumulate from Buy by AmFraser
May 24th, 2010 |
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AmFraser has downgraded Goodpack (G05.SG) to Accumulate from Buy on view current price already reflects positive outlook, according to Dow Jones.
Sinotel cut to hold by AmFraser
May 4th, 2010 |
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AmFraser has downgraded Sinotel Technologies (D3W.SG) to Hold from Accumulate, cuts target price to 53 cents from 89 cents after lowering FY10-12 revenue estimates by 27–41%, according to Dow Jones.
STI +0.3%; may peak near-term before fall: AmFraser
April 15th, 2010 |
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Buying momentum in Singapore market tapering off as investors prefer to wait for corporate earnings for direction after yesterday’s rally, according to Dow Jones.
The STI is up 0.3% at 3,028.40, still in tight morning band of 3,023-3,037.
STI up 0.2%; may test 3,050 in near term, says AmFraser
April 6th, 2010 |
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Having pulled back from morning high of 2,978.05, which was a new year-to-date peak, the STI Index is not expected to rise much more from current levels, given absence of leads and weaker US stock futures, according to Dow Jones.
STI likely up, but pullback needed: AmFraser
March 30th, 2010 |
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Firmer US stocks bode well for Singapore shares, paving way for STI to test this year’s current high of 2,947 set in January, says Dow Jones.
Benchmark ends +0.8% at 2,929.14 yesterday. Still, with STI +6.5% since beginning of March, some market observers say pullback would be healthy.
STI flat, but more upside likely near-term, says AmFraser
March 11th, 2010 |
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Singapore shares turned choppy on the prospect of more tightening measures by China although this was mitigated by light buying on dips, reported Dow Jones Newswires.
But upside is not expected to be huge given weaker US stock futures and mixed performance across Asian markets.
Sinotel cut to ‘accumulate’ by AmFraser
March 3rd, 2010 |
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AmFraser has downgraded Sinotel Technologies (D3W.SG) to “accumulate” from “buy”, cutting its target price to 89 cents from 93 cents after reducing revenue, margin estimates to reflect “shift in landscape”.
It notes that telcos in China have started streamlining their costs in late 2009 by buying equipment in bulk, prompting Sinotel to venture into equipment sales.
Wheelock Properties rated hold
February 25th, 2010 |
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AmFraser Securities in a Feb 24 research report says: “Wheelock reported net profit up 160% y-o-y to $262 million for FY2009. It exceeded both our forecasts and consensus estimates.
STI gains 0.4%; Budget hopes high, says AmFraser
February 22nd, 2010 |
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Singapore shares were mostly higher, tracking broad gains in Asian markets, although sell-off in property shares were restraining STI’s advance. The benchmark gained 0.4% to 2,768.81 at midday after hovering in the tight 2,764–2,775 band entire morning, looking unlikely to test last week’s high of 2,797.
STI’s post-lunch performance is likely to be swayed by Singapore’s 2010 Budget announcement.
STI off 0.4% at 2:36 p.m.; Better to sell on rebound, says AmFraser
February 10th, 2010 |
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Downside for Singapore shares may be limited for rest of session given absence of negative news, although any gains also likely minimal with no buy leads in sight.
The STI is off 0.4% at 2,735.30 at 2:36 p.m. and likely to close above 2,700 with resistance expected at current February high of 2,772.
Market breadth is almost neutral, while overall volume stays thin.
Too early to call bottom on STI, says AmFraser
February 9th, 2010 |
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Singapore shares reverse fall as SingTel (Z74.SG) and banks lend support with the STI gaining 0.4% at 2,703.14 vs morning low of 2,675 (down 0.7%) with resistance tipped at five-day moving average around 2,720.
But trading is likely to remain choppy given European sovereign debt worries still simmering away with support eyed at yesterday’s low of 2,665.
STI down 2%; may mark start of correction, says AmFraser
February 5th, 2010 |
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With markets weak across Asia, STI may end below 2,700 for first time since November. Weakness may persist next week if debt situation in Europe deteriorates and tonight’s US jobs report disappoints.
STI was down 2% at 2,690.29, but bounced off morning low of 2,680.14 suggesting downside may be limited.
STI stays flat, may have gone ahead of fundamentals, says AmFraser
January 12th, 2010 |
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Singapore shares are lacking firm direction as investors digest good year-to-date gains, while awaiting further clues on the scope of corporate profits recovery from the upcoming earnings season.
The STI stayed flat at 2,934.15 midday having traded in narrow range of 2,922–2,942 during morning session. Support is tipped at 2,900 with resistance at yesterday’s high of 2,947.
China Animal Healthcare rated accumulate
December 2nd, 2009 |
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AmFraser Securities in a Dec 1 research report says: “The Company manufactures and distributes nearly 300 types of treatment and non-treatment drugs for poultry and livestock in China. We arrive at a fair value (FV) of 28 cents using our earnings model, representing 13.2 and 10.3 times FY2009 and FY2010 forecasted earnings respectively. The higher valuation than other S-chips takes into consideration the potential high growth from the Biwei Antai and other acquisitions.