Bottom Fishing: SoundGlobal

From DBS Research Report today:

Sound Global was sold down after its weak 4Q12 results, CFO departure and the ensuing management shuffle. The stock is now trading at 9x FY13F PE or –1SD of its historical mean. It is the cheapest water stock in the region, trading at >40% discount to peers’ average of 15x PE. Our analyst has adjusted FY13/14F earnings by -5%/+12% respectively to conservatively phase out project recognition schedule. Maintain BUY, target price lowered to S$0.81 (Prev S$ 0.89), but there is still 62% potential upside. Surging interest expense and delayed execution are key risks; Sound Global’s depressed valuations could draw privatization interest, in our view.

SoundGlobal rebounding after hit its bottom support 49c, currently 52c, up 2c(10.35am)

Wanna Catch up China Market Rebound?

If you wanna catch up with the Chinese market rebound, consider buy Utd SSE 50 China ETF( sgx code: JK8, click HERE for more info), it tracks closely the Shanghai SSE index.

It closed at 1.77 yesterday.

STI Trapped in Between 3300-3260

STI spiked down below 3260 support and back to the trapped range again on Tue. Continue to watch 3300-3260 level to be breakout for clear up/down direction. Most of the stocks are in sideway action as well but I see some potential long setups for a rebound.

Biosensor
Wilmar
Ezra
ChinaMZ
Tat Hong

THBEV (Thai Beverage) as I posted last week(click HERE) poised to continue its upside move. It closed at 62c yesterday.

Broker House Stock Picks

Weekly Wrap

As I'm leaving town early tomorrow morning for my weekend and only be back late Sunday. Think I will just go ahead with the weekly wrap without the US index, as I'm writing now(11.47pm), DJI -26 pts at 14512and SPX -2pts at 1561. This week until now, the DJI gained for a total 113 pts.

It's a red sea for Asian markets this week. STI dropped 0.1% and HSI lost 2.4%.
STI has been trapped within the range 3300-3260 for seven weeks, with spike through in between but closed within the range.

Thai Beverage(THBEV) in STI Effect on Mar 18

Thai Beverage join the STI will take effect on Monday Mar 18, to replace IHH healthcare.


New STI index stocks:

CapitaLand Ltd
Noble Group Ltd
CapitaMall Trust
Olam International Ltd
CapitaMalls Asia Ltd
Oversea-Chinese Banking Corp Ltd
City Developments Ltd
SembCorp Industries Ltd
ComfortDelgro Corp Ltd
SembCorp Marine Ltd
DBS Group Holdings Ltd
SIA Engineering Co Ltd
Fraser and Neave Ltd
Singapore Airlines Ltd
Genting Singapore PLC
Singapore Exchange Ltd
Global Logistic Properties Ltd
Singapore Press Holdings Ltd
Golden Agri-Resources Ltd
Singapore Technologies Engineering Ltd
Hongkong Land Holdings Ltd
Singapore Telecommunications Ltd
Jardine Cycle & Carriage Ltd
Starhub Ltd
Jardine Matheson Holdings Ltd
Thai Beverage PCL
Jardine Strategic Holdings Ltd
United Overseas Bank Ltd
Keppel Corp Ltd
Wilmar International Ltd

The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size) Hutchison Port Holdings Trust, Keppel Land, Ascendas Real Estate Investment Trust, UOL Group and CapitaCommercial Trust. Companies in the reserve list will replace any constituents that become ineligible as a result of corporate actions before the next review. (from SGX website)

Nice Song from Linda Ronstadt

Singapore Banks Hit Multi Year High(Resistance)

Among the three banks, DBS and UOB hit their multi-year high(also major resistance), while OCBC registered historical high today.

Today: DBS  high 15.73, UOB high19.99, OCBC10.45.