DJIA 10,365.45 (-777.68)

• Noble Off 10.1%;Commodity Demand Concerns-Analyst
• Yanlord Land Target Cut To S$1.32 From S$3.07 By CIMB
• S'pore Property Stocks Among Worst Hit By Selloff
• Singapore China Plays Fall; Stay Cautious - DBS
• S'pore Palm Plays Tumble; Selloff Overdone - CS
• S'pore Banks Outperform; Solid, Good Value-Trader
• Singapore Opposition Veteran Jeyaretnam Dies At 82 - Report
• Singapore Exchange Target Cut To S$4.90 Vs S$5.60 By Kim Eng
• Wilmar Intl Raised To Outperform Vs Neutral By Credit Suisse
• SingTel Target Cut To S$3.52 From S$3.78 by HSBC
• UOB Target Cut To S$17.00 From S$20.00 By ABN Amro
• DBS Target Cut To S$15.30 From S$16.00 By ABN Amro
• OCBC Downgraded To Sell From Hold By ABN Amro
• CapitaLand Target Cut To S$3.11 From S$3.90 By Citigroup
• Allgreen Properties Target Cut To S$0.80 Vs S$1.16 By Citi
• Wing Tai Hldgs Target Cut To S$1.20 From S$2.00 By Citigroup
• Keppel Land Target Cut To S$3.05 From S$5.45 By Citigroup
• City Developments Downgraded To Hold From Buy By Citigroup

DJIA 11,143.13 (+121.07)

• Indofood Agri Off 3.7%; S$0.73 Test Expected-DBSV
• ST Engineering Target Cut To S$2.80 From S$3.06 By Nomura
• Keppel T&T Down 31.1%; SGX Queries 2nd Time
• STI Extends Fall, Year-Low May Give Way Soon
• Goldman Sachs Cuts Straits Asia To Neutral
• SPH +1.5%; 7.7% Dividend Yield Defensive - Nomura
• Credit Suisse Cuts Wing Tai Target To S$0.93
• SingTel Off 0.9%; Broadband Bid Win No Surprise
• CapitaLand Cut To Underperform From Neutral By Credit Suisse
• OCBC Restarts CapitaLand At Hold, S$3.71 Target
• Singapore Senior Min:Better To Be Cautious On Econ '09-Report
• Chartered Semi Target Cut To S$0.43 From S$0.58 By Macquarie
• SPH Target Cut To S$4.34 From S$4.58 By Nomura
• Gold Volatile; $875.90; Fortis In Focus

DJIA 11,022.06 (+196.89)

• Korea, India Agree On Free Trade Pact; May Be Effected 2009
• Keppel T&T Dn 36%; Forced-Selling Suspected -CIMB
• Oversold, High-Yield S'pore Shrs Worth Buy - DBSV
• SMRT Flat; Signs Of Weakness Emerging - Broker
• Keppel, SembMarine May Gain If US Lifts Drill Ban
• Wing Tai Dn 0.9%;Uncertain Demand Outlook-Kim Eng
• S'pore Press Holdings Target Cut To S$3.92 Vs S$4.70 By UOB
• S'pore Banks Outperformance Likely Continue - UBS
• Goldman Downgrades Ascendas REIT To Sell
• Macq Ups CityDev To Outperform, But Trims Target
• Starhub Target Cut To S$2.64 From S$2.87 By Macquarie
• OCBC Target Cut To S$8.00 From S$9.20 BY UBS; Keeps Neutral
• Hsu Fu Chi May Fall On Singapore Product Recall
• Synear Target Cut To S$0.28 From S$0.33 By Deutsche
• STX Pan Ocean Started At Neutral By HSBC
• Straits Asia Target Cut To S$4.30 From S$5.10 By Macquarie

DJIA 10,825.17 (-29.00)

• Celestial Nutrifoods Dn 2.3% But Uptrend N/T - KE
• Swiber Hldgs Target Cut To S$2.93 From S$3.49 By DBS Vickers
• Chip Eng Seng: Lehman Collapse Won't Hurt Singapore Projects
• Synear +1.6%; May Test S$0.395 Soon - CIMB
• Cambridge Indus Dn 2%; Rental Growth Intact -DMG
• Yanlord Land Cut To Hold, Target Cut To S$1 By DBS Vickers
• Cosco Singapore Downgraded To Hold From Buy By Kim Eng Sec
• S'pore Bank Margins Set For Strong Growth - JPM
• Yanlord May Recoup Some Losses; Denies Reports
• CapitaMall Trust Target Cut To S$3.05 From S$3.21 By OCBC
• Federal Intl May Rise On US$33M Coal Contract
• Singapore Post Target Cut To S$0.97 From S$1.10 By JPMorgan
• Fraser & Neave Started At Buy By BNP Paribas; S$5.39 Target

DJIA 10,854.17 (-161.52)

• DMG Keeps Indofood Agri At Buy; S$2.65 Target
• Macquarie Keeps Olam At Outperform, S$2.90 Target
• Kerry Properties, Shangri-La, Allgreen Jointly Buy China Site
• Cosco 2008 Order Book Likely Dn At $2B Vs $6B Last Yr-Source
• Merrill Keeps Raffles Education At Buy;S$2.00 Trgt
• Singapore Palm Plays Higher, Shrug Off Oil Drop
• Sembcorp Ind Oversold, Utilities Undervalued - DB
• Rickmers Maritime Started At Buy, S$1.66 Target By CIMB
• Credit Suisse Keeps Singapore Mkt At Underweight
• Thomson Medical Centre Target Cut To S$0.68 Vs S$0.76 By DMG
• Chartered Semi Target Cut To S$0.46 From S$0.70 By Citi
• Cosco May Edge Up On US$256.2M Contracts
• SingTel Target Cut To S$3.93 From S$4.53 By BNP Paribas

DJIA 11,015.69 (-372.75)

• Hong Kong Braces For Typhoon Hagupit Amid Heavy Rain, Wind
• SATS +2.8%; Stock Grossly Undervalued - Kim Eng
• CapitaCommercial Trust Started At Hold, S$1.55 Target By ABN
• Ascendas REIT Started At Buy, S$2.40 Target By ABN Amro
• CDL Hospitality Started At Sell, S$0.95 Target By ABN Amro
• CapitaMall Trust Started At Sell, S$2 Target By ABN Amro
• Singapore Aug CPI +6.4% On Yr;Dow Jones Poll +6.2%
• Singapore GIC To Issue Its First Annual Report Later Tuesday
• MobileOne Upgraded To Buy From Hold By DBS Vickers
• Australia, Peru, Vietnam Want To Join Pacific Free Trade Deal
• S'pore Palm Stocks Higher; CPO Demand Strong - DB
• Wilmar Intl Started At Buy, S$4 Target By Deutsche Bank
• Singapore Exchange To Publish Naked Short Sale Data
• Singapore Exchange To Publish Naked Short Sale Data

DJIA 11,388.44 (+368.75)

• Nomura Wins Auction Of Lehman Brothers Asia Assets - Sources
• Singapore 3-Month Treasury Bills Sold At 1.48% Yield
• Sembcorp Ind Target Cut To S$4.80 From S$5.50 By JPMorgan
• Hyflux Target Cut To S$3.00 From S$3.80 By JPMorgan
• Ezra Target Cut To S$2.85 From S$4.00 By JPMorgan
• Cosco Corp Target Cut To S$2.50 From S$3.00 By JPMorgan
• Keppel Corp Target Cut To S$12.00 From S$16.00 By JPMorgan
• SembMarine Target Cut To S$4.20 From S$4.80 By JPMorgan
• Olam Target Cut To S$2.50 From S$3.70 By JPMorgan

DJIA 11,019.69 (+410.03)

• Wilmar Raised To In-Line From Underperform By Cazenove
• S-Chips Risky, May De-Rate Further - JPMorgan
• UOB Target Cut To S$19.25 From S$24.50 By Credit Suisse
• OCBC Target Cut To S$8.00 From S$9.00 By Credit Suisse
• DBS Target Cut To S$17.00 From S$20.50 By Credit Suisse
• Noble Group Fair Value Cut To S$2.53 From S$2.99 By OCBC
• Straits Asia May Fall; Restructuring Plan Off
• Singapore's MAS: Head Of AIG Unit Resigns From Co

DJIA 10,609.66 (-449.36)

• Golden Agri Target Cut To S$0.42 From S$0.65 By CIMB
• Cosco Corp Cut To Underweight From Neutral By HSBC
• MAS:Trustee For Lehman's Minibonds Checking Options

DJIA 11,059.02 (+141.51)

• SembMarine +0.9% On Rig Job; S$3.33 Resistance
• S'pore Banks Resilient Amid Credit Turmoil-UOB KH
• S'pore Palm Plays Mixed; Oil Drop Offsets Mkt Rise
• S'pore Market At All-Time Low On Trailing PE -UBS
• Keppel Corp May Rise On China Framework Deal
• FerroChina May Slip; Due Diligence Underway
• Neptune Orient Target Cut To S$1.80 From S$2.70 By JPMorgan
• Sembcorp Marine Gets $229M Rig Order From Sinopec Intl

DJIA 10,917.51 (-504.48)

• ST Engineering Gets S$105M Defense Contract
• Asian Stocks Slump, Yen Rises; Bank Stocks Hit
• Suntec REIT's Lehman Exposure Is Minimal-UBS
• DBSV Starts STX Pan Ocean At Fully Valued
• S'pore Banks Have Minimal Lehman Exposure - UBS
• Too Early To Buy S'pore Property Developers - GS
• S'pore Ppty Stocks Outperform; Weak Data No Shock
• Singapore Straits Times Index Opens Down 2.8% At 2417.96
• Olam Target Cut To S$2.90 From S$3.80 By Macquarie
• STI Likely To Fall On US Financial Sector Worries
• SIA May Fall On August Travel, Cargo Data
• DBS Group Says Direct Exposure To Lehman 'Insignificant'

DJIA -11.72 (Sat)

• SPH Likely To Consolidate In S$4.0-S$4.2 Band-DMG
• Keppel Corp Outperforms Mkt; To Buy Senoko Plant
• CapitaLand Down 2.3%; Concerns Overdone - CLSA
• CIMB Upgrades STX Pan Ocean To Trading Buy
• SIA, SembMarine Are Good High Yield Plays - CLSA
• Temasek To Make About $5 Per Shr In Merrill Sale-Sources
• Yanlord Off 4.8%; China Property Mkt Tough - OCBC
• Singapore Exchange Target Cut To S$4.70 From S$6.45 By Citi
• STI May Fall; US, Lehman Worries Eyed; 2500 Floor

DJIA

• Yangzijiang Dn 1.7%; May Hit Low Of S$0.40 -DBSV
• UOB KayHian Starts Singapore Petroleum At Buy
• ST Eng, SIA, SPH Best Big Cap Yield Plays - UBS
• Straits Asia +2.5% at S$1.67; Cheapest In Coal Sector - GS
• DBS Vickers Cuts Banyan Tree To Fully Valued
• Cambridge Industrial Trust Started At Outperform By CIMB.
• Golden Agri Up, Yangzijiang Down On STI Review.
• Singapore Straits Times Index Opens +1.2% At 2570.90

Broker Calls

18th Sep 2008

• Wilmar International Target Cut To S$4.15 Vs S$5.55 By Macq

Hmmmm...

17th Sep 2008

• CLSA Cuts DBS Target To S$18.90; Keeps Outperform
• CLSA Cuts UOB Target To S$20; Keeps Outperform
• CLSA Cuts OCBC To Underperform; S$8.00 Target
• Golden Agri Raised To Buy From Sell By UBS; S$0.52 Target
• SingTel Target Cut To S$3.50 From S$3.55 By Morgan Stanley
• Neptune Orient Target Cut To S$1.80 From S$2.70 By JPMorgan

16th Sep 2008:

• Suntec REIT's-UBS Maintains Buy with unchanged S$1.60 target price. Currently down 2.3% at S$1.26.
• Wilmar Intl Target Cut To S$3.10 From S$4.50 By DBS Vickers
• OCBC Cuts Golden Agri-Resources Target To S$0.48
• Singapore Telecom Target Cut To S$3.92 Vs S$4.08 By Merrill
• BNP Paribas Cuts Golden Agri Target To S$1.10
• Olam Target Cut To S$2.90 From S$3.80 By Macquarie
• UBS Cuts Keppel Corp Target To S$13.35; Keeps Buy
• Golden Agri Target Cut To S$1.10 From S$1.70 By BNP Paribas

12th Sep 2008

• UOB KayHian starts Singapore Petroleum Co. (S4.56) at Buy with S$7.60 target, based on sum-of-parts valuation.
• CIMB starts Cambridge Industrial Trust (S$0.565) at Outperform with S$0.90 target.
• Straits Asia (S$1.67) has most attractive valuation in the sector trading on only 3x FY09 PE; maintains Buy rating with S$3.95 target.

Closing STI index: September 2008

30 Sep 2008: STI: 2,364.68. -46.78
26 Sep 2008: STI: 2,411.46. -32.78
25 Sep 2008: STI: 2,445.15. -32.45
24 Sep 2008: STI: 2,477.60. +1.09
23 Sep 2008: STI: 2,486.11. -58.02
22 Sep 2008: STI 2,544.13. -14.94
19 Sep 2008: STI 2,559.07. +139.86
18 Sep 2008: STI 2,419.21. -0.08
17 Sep 2008: STI 2,412.85. -48.58
16 Sep 2008: STI 2,459.39. -25.12
15 Sep 2008: STI 2,486.21. -84.46
12 Sep 2008: STI 2,570.67. +29.52
11 Sep 2008: STI 2,541.15. -81.26