Tuesday, September 9, 2008

Market Daily -- 9th Sep 08

20. Sunningdale Tech +15.4%; Company Denies M&A Talk

19. Singapore Airlines Target Raised To S$20 From S$19.50 By UBS

18. S-Chips Tumble; FTSE ST China Index Hits New Low; top 5 picks are Beauty China, China Hongxing, Synear , China Farm and Li Heng -- UOB KayHian

17. Fitch: A-REIT Results Crunched by Global Credit Crunch

16. News of Raffles Education securing regulatory approval to set up new college in China's Hebei province doing little to stir interest among investors, as concerns about company's aggressive acquisition-driven growth plans amid current global credit crunch continue to weigh on sentiment. S$0.815 Support

15. UBS ups Indofood Agri to Buy from Neutral; target kept at S$1.38

14. SMRT Dn 1.1% But Rise To S$2.04 Eyed N/T -Kim Eng

13. SingPost +1.0%; Terminal Dues Impact Small

12. SC Global +2.6%; Firm Demand For S'pore Project

11. Biosensors +3.9%; Future Looks Bright - OCBC

10. STI Down 1.5%; Bear Market To Persist - AmFraser

9. DBS Vickers downgrades Raffles Medical to Hold from Buy, cuts target price to S$1.01 from S$1.51

8. DBS Vickers downgrades Parkway Holdings to Fully Valued from Hold, cuts target price to S$1.85 from S$2.40

7. UOB KayHian upgrades Wilmar International to Hold from Sell as current price near its fair value of S$3.56 (12.4X FY09 P/E).

6. Singapore offshore & marine plays still have good fundamentals despite recent poor investor sentiment, says Morgan Stanley; maintains attractive view on sector

5. Singapore Congolomerates Oversold - Deutsche Bank

4. Singapore Exchange Target Cut To S$5.20 From S$6.00 By DMG

3. Venture Corp. raised to Outperform from In-Line by Cazenove, S$11.30 target price unchanged

2. Sembcorp Marine may head higher after rigbuilder says it has secured US$425 million contract to build 2 jack-up drilling rigs for Egyptian Offshore Drilling Company

1. WALL STREET: Government's seizure of mortgage giants Fannie Mae, Freddie Mac saved just about the entire market, except the two GSEs themselves; DJIA +289.78 points or 2.6% to 11510.74, biggest gain in a month, though Nasdaq only +0.6% (and down 5.4% in the past month) with ongoing concerns about outlook for tech spending