SMRT (S53.SG) is +0.5% at $2.03, tracking mild gains by most other Singapore large caps, but continues to consolidate in a tight band with a downward bias after coming off from a $2.34 52-week high achieved in July.
The stock has lost 9.0% since the start of 2H10, vs the STI +10.5%, after the rail operator warned of a lower profit for its current FY ending March given higher operating costs and continuing losses from its Circle Line.
Pakistan President Asif Ali Zardari lacks public leadership acumen, while Prime Minister Yousuf Raza Gilani has shown strong leadership skills in building parliamentary coalitions in times of national crisis, a diplomatic cable unveiled by the whistle-blower website WikiLeaks has revealed. “Prime Minister Gilani has shown strong leadership skills in building Parliamentary coalitions at times of [...]
Singapore shares slips on negative Wall Street cue.
“Expect range-bound trading today,” says Kim Eng Securities; “the STI has been slow in pushing to the upside and has failed to close above the 3200 level, indicating a lack of conviction.”
Benchmark off 0.2% at 3,183.98, likely to hold above current 3,150 November trough. Attention mainly on small caps, with most active being Gallant Venture (5IG.SG), +9.8% at $0.28, after Kim Eng Securities’ initiation at Buy with $0.75 target.
Other actively-traded stocks include EcoWise (5CT.SG), +4.0% at $0.13, Top Global (519.SG), +33.3% at $0.02, Bio-Treat (B22.SG), down 28.6% at $0.05. Among blue chips, Singapore Airlines (C6L.SG) down 1.5% at $15.72 as stock trades ex-dividend.
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DBS Vickers downgrades Tat Hong (T03.SG) to Hold from Buy, lowers target to $1.08 from $1.11; says 2Q’s 32% on-quarter drop in net profit to $7.1 million below expectations of over $10 million, “mainly due to a one-off $2.5 million goodwill impairment for Kingston and higher forex loss of $1.5 million”.
DBS Vickers notes excluding these items, bottomline would have been around $11 million. Says crane business gradually recovering, based on industry checks, tender of construction projects picking up but at slower pace than thought.
Singapore shares flat despite Wall Street’s pullback; market lacks leads from regional markets with Japan, Korea, China, Hong Kong shut for public holidays, says Dow Jones.
Gainers outnumbering decliners by 2 to 1, with lower liners again outperforming blue chips. STI flat at 3,097.06 vs +0.2% at 3,102.76 earlier, with support at August 3,043 high, resistance at year-to-date 3,116 peak.
“The STI has been slow in pushing to the upside and failed to close above the 3,100 level, indicating a lack of conviction,” says Kim Eng Securities; “expect range-bound trading today.”
FTSE ST Small Cap Index +0.5%, FTSE ST Mid Cap Index +0.4%. Among lower liners, most sought-after plays include VDH Energy (595.SG), +6.3% at $0.17, GMG Global (5IM.SG), +3.7% at $0.28, UMS Holdings (558.SG), +5.4% at $0.49.
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Singapore shares generally firmer but participation remains low, with interest mainly on companies with specific newsflow, says Dow Jones.
STI +0.8% at 2,942.31 midday, with immediate resistance at 2,948 (Aug 13 high), then 2,969 (Aug 11 peak).
Market breadth narrower at just under 2 gainers for each decliner vs 2.5 for 1 in early trade, with overall volume modest at 976.6 million shares worth $757.6 million. "With the market conditions uncertain right now, we can expect the volatility and directionless-ness to last a while," says Sias Research technical analyst Edmund Seow.
Oceanus Group (579.SG) most active in market, +16.7% at $0.35, as investors hopeful stock could potentially trade up to $0.477, equivalent to NT$11.25 ($0.48), at which company has priced second tranche of its Taiwan Depository Receipts, which start trading Aug 27. Tiger Airways (J7X.SG) also actively traded, off 3.0% at $1.92, as key shareholders trim stakes.
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Apple will likely debut the next generation of the iPhone at its 2010 Worldwide Developers Conference June 7. Possible details of the device have already leaked to the public, thanks to a high-profile breakdown of a "lost" prototype by tech blog Gizmodo, as well as a later leak on a Vietnamese online forum. Those leaks, combined with increased competition from rivals such as Googles Android smartphone operating system, suggest that Apple may need an additional announcement or other game-changer at the WWDC if it wants to maintain its perception as the strongest competitor in the smartphone space. – When Apple CEO Steve Jobs takes the stage
at the companys 2010 Worldwide Developers Conference in San
Francisco June 7, the general expectation is that
hell unveil the next-generation iPhone. Unlike previous Apple releases,
however, some element of surprise has likely been lost, thanks to leaks…
Apple CEO Steve Jobs apparently lacks faith in Google’s newly announced VP8 WebM video codec, reportedly citing a developer blog post that condemns the codec as slow, buggy and at risk for patent violations. Google is backing the VP8 WebM codec for HTML5 video, using the high-profile platform of the Google I/O developer conference to tout the software’s open-source bona fides. – Apple CEO Steve Jobs apparently hinted in
an e-mail message that he believes Google’s VP8 WebM video codec is slow, buggy
and at risk for patent violations. That e-mail was a response to one sent by a
software engineer, asking, quot;What did you make of the recent VP8
announcement? quot;
Duri…
Skype released an updated version of its free iPhone app with iPad compatibility on April 6, but the program does not include support for 3G-enabled Skype calls. While a WiFi-only version of the iPad is currently available, a version of the device with both WiFi and 3G will go on sale later in April. The updated Skype app includes boosted stability for functions such as switching between tabs and handling unread chats. More than 1 million apps have been downloaded for the iPad since the devices April 3 release, along with 250,000 ebooks.
– Skype released a free iPhone app with iPad compatibility on April 6, although
the updated software still does not include support for 3G-enabled Skype calls.
Termed Version 1.3.1, the Skype app includes boosted stability when switching
between tabs, as well as handling unread chats and incoming c…
Microsoft’s Windows Phone 7 Series will lack the ability to cut, copy and paste text, similar to Apple’s iPhone, upon that devices release. In its place, users will be able to perform a single-tap action. The Windows Phone 7 Series will also lack other features upon its release, including Adobe Flash support and the ability to run mobile applications built for Windows Mobile and previous versions of the company’s smartphone operating system. Microsoft is working with Adobe, however, to eventually bring Flash support to the devices.
– Microsofts upcoming Windows Phone 7 Series will not allow users to cut,
copy and paste text, adding to a list of other features including Adobe Flash
support that the companys newest smartphone operating system will lack when it
rolls out to consumers and businesses later in 2010.
quot;Windows …
The Community Shield is officially a friendly, as the name suggests, yet neither United nor Chelsea will treat the season’s curtain-raiser lightly. Early bragging rights are up for grabs, of course. Ancelotti has battled United before, most recently in the Champions League in 2007. Then, he led
Brit actress Sienna Miller has admitted that she lacks “box office credibilityâ€.
The 27-year-old actress has made a number of flops including ‘Factory Girl’ and ‘Interview’.
“If you want to make amazing, artistic films you’ve got to have some sort of box office credibility, which I don’t,†the Daily Star quoted her as telling Nylon magazine. [...]
Product: Alert System Manufacturer: NavAlertWired Rating: 3Meet the radar-detector group’s brain-damaged member. Its seven-character display can’t show units of measure, so when the screen reads “30,” for example, you don’t know whether you’re going 30…
