Thursday, May 21, 2009

Market Daily -- 21st May 09

5. City Developments Target Raised To S$10 Vs S$5.10 By BoA-ML

4. CapitaLand Target Raised To S$4.50 Vs S$2.45 By BoA-Merrill

3. SGX Target Raised To S$8.30 From S$5.30 By Kim Eng

2. Singapore 1Q GDP -14.6% On Qtr Annualized Vs -16.4% In 4Q08
Singapore Advance Estimates Saw 1Q GDP Down 19.7% On Qtr
Singapore 1Q GDP Dn 10.1% On Yr Vs -11.5% Advance Estimates
Singapore Maintains 2009 GDP Forecast Range Of -6% To -9%
Singapore Non-Oil Domestic Exports Down 25.6% On Yr In 1Q09

1. WALL STREET: Stocks fell as Hewlett-Packard's profit outlook, Federal Reserve's grim view of economy weighed. Fed officials projected even deeper recession than expected 3 months earlier and more sluggish recovery over next 2 years as labor markets remain under pressure, according to April meeting minutes. Dow down 0.6%, Nasdaq down 0.4%