DJIA 9,180.69 (+189.69)

• HEARD ON THE STREET: Losing Faith In Shipbuilder Cosco

DJIA 8,691.25 (+172.04)

• STI Off 7.6%; 1390 May Be Next Support - Analyst
• Asian Shares Hit Before Weekend;Nikkei Down 7.6%
• STX Pan Ocean (SGD) Target Cut To S$0.5 Vs S$2.5 By Goldman
• First Resources Target Cut To S$0.22 From S$0.25 By Deutsche
• Wilmar Target Cut To S$3.60 From S$4.00 By Deutsche Bank
• Golden Agri Target Cut To S$0.14 From S$0.16 By Deutsche
• Cosco Corp Target Cut To S$0.75 Vs S$2.60 By Morgan Stanley
• MS Cuts CityDev Target To S$6.16; Underweight
• Keppel Corp Fair Value Cut To S$4.97 Vs S$12.30 By UOB-KH
• Keppel Corp Target Cut To S$6.01 From S$13.70 By Nomura
• Keppel Corp Target Cut To S$6.72 From S$7.65 By Kim Eng
• CapitaLand Raised To Equal-weight From Underweight By MS
• Allgreen Target Cut To S$0.42 From S$0.95 By Morgan Stanley
• CityDev Target Cut To S$6.16 From S$9.46 By Morgan Stanley
• Keppel Land Target Cut To S$2.11 From S$4.21 By MS
• Wing Tai Target Cut To S$0.67 From S$1.68 By Morgan Stanley
• MS Ups S'pore Ppty Developers Sector To In-Line Vs Cautious
• Goldman Cuts SPC Target To S$2.70 From S$6.30; Keeps Neutral
• Keppel Corp Target Cut To S$7.00 From S$12.00 By JPMorgan
• Keppel Corp Target Cut To S$6.35 From S$7.00 By Citi
• Keppel Corp Target Cut To S$10.10 From S$11.15 By UBS

DJIA 8,519.21 (-514.45)

• Noble Off 11.5% at S$0.575, On Weaker Commodity Outlook
• DMG Cuts Hong Leong Finance Target To S$2.65
• Singapore Sep Mfg Likely Down On Weak Global Demand
• SGX, SIA Debt-Free;Good Balance Sheet-Phillip Sec
• DMG Downgrades CapitaMall To Hold; S$2.06 Target
• DBS Cuts SPC Target To S$3.11; Keeps Hold
• Singapore Petroleum Target Cut To S$4.20 From S$7.60 By UOB
• Asian Shares Sink On Econ Woes; Nikkei Drops 6.1%
• SMRT Restarted At Underperform By Macquarie; S$1.53 Target
• CapitaCommercial Trust 3Q DPU 3.1 Singapore Cents, Up 45%
• CapitaLand Target Cut To S$3.70 From S$6.50 By UOB KayHian
• Allgreen Ppties Target Cut To S$0.85 Vs S$1.55 By UOB KayHian
• Venture Corp Target Cut To S$7.13 From S$12.70 By CS
• Keppel Land Target Cut To S$2.90 Vs S$6.95 By UOB KayHian
• SC Global Target Cut To S$0.50 Vs S$1.40 By UOB KayHian
• DBS May Fall Despite Reassuring Minibond Update
• MS Cuts SIA To Equalweight; S$12.50 Target
• Keppel Land Upgraded To Buy By Kim Eng; Target Cut To S$2.74

DJIA 9,033.66 (-231.77)

• BNP Paribas Cuts OCBC Target; Reiterates Reduce target price to S$5.30 from S$6.65
• DBS Off 8.2% at S$11.60; Earnings Most At Risk - Analyst
• Singapore O&M Plays Hurt By Falling Oil Price
• CPO Rebound Mid-Term;IOI,Astra,Wilmar Top Picks-MS
• Nomura Cuts SGX Target To S$5.00; Keeps Reduce
• Asia Environment Target Cut To S$0.18 From S$0.44 By CS
• DMG Cuts Li Heng Chemical Target To S$0.685
• Keppel T&T Likely To Fall On Flat 3Q Earnings
• Straits Asia Resources Target Cut To S$1.85 Vs S$2.50 By DBS
• CapitaMall Trust Target Cut To S$2.78 Vs S$3.25 By JPMorgan
• OCBC Target Cut To S$5.30 Vs S$6.65 By BNP Paribas
• UOB Target Cut To S$15.80 Vs S$20.20 By BNP Paribas
• Ezra Target Cut To S$0.55 From S$0.80 By Citi; Keeps Sell
• CapitaMall Trust Target Cut To S$2.57 From S$3.05 By OCBC
• Ezra May Fall; 4Q Net Profit Down 84% Y/Y
• Ezra Holdings Target Cut To S$1.20 From S$3.30 By OCBC

DJIA 9,265.43 (+413.21)

• CIMB Cuts Indofood Agri Target To S$0.58
• China Hongxing Pares Gains; Earnings At Risk-Citi
• Singapore To Relax Mark-To-Market Accounting Rules -Report
• Sembcorp Industries Pares Gains; $2.43 Support
• Sembcorp Marine Target Cut To S$1.92 Vs S$5.25 By UOB KayHian
• Deutsche Cuts KepLand To Hold; S$1.99 Target
• Suntec REIT +1.8% at S$0.835; Sector Correction Looms - DB
• CIMB Upgrades Wilmar To Outperform, Cuts Target price to S$2.95 from S$3.60
• Deutsche Cuts CapLand To Sell; S$2.33 Target
• Suntec REIT Target Cut To S$1.23 From S$2.16 By Deutsche Bank
• China Hongxing Sports Target Cut To S$0.17 From S$0.35 - Citi
• Ezra Holdings Charters Offshore Vessels For $104 Million

DJIA 8,852.22 (-127.04)

• Golden Agri, Wilmar May Gain From Downturn - UBS
• Olam Target Cut To S$1.96 From S$3.75 By UBS; Keeps Buy
• SingTel's Australia Unit To Cut 115 Jobs
• Singapore Trade Min: Loan Default Rates Likely To Rise
• STX Pan Ocean Off 1.0% at S$1.03; BDI May Fall More - HSBC
• Sino-Environment Off 2.4% On Swap Loss Worries
• KepCorp, SembMarine Tumble On Orderbook Concerns
• UOL Group Cut To Hold From Buy By ABN Amro
• CityDev Target Cut To S$5.00 From S$9.90 By ABN Amro
• MobileOne Downgraded To Hold From Buy By Citigroup
• NOL Cut To Equal-Weight From Overweight By Morgan Stanley
• CDL Hospitality Trust Target Cut To S$0.81 From S$1.85 By MS
• Sino-Environment Target Cut To S$0.74 From S$1.68 By OCBC
• SingTel Upgraded To Hold From Sell By ABN Amro
• Banyan Tree May Fall On Profit Warning
• Ascendas REIT May Outperform;1H Results Solid-UBS

DJIA 8,979.26 (+401.35)

• K-REIT Asia Target Cut To S$1.25 From S$1.42 By Macquarie
• Oil Price Drop Weighs On SembMarine, Keppel Corp
• No End In Sight For Baltic Dry Index Fall -Imarex
• Nomura Upgrades Golden Agri To Strong Buy, cuts target to S$0.41 from S$0.79
• Nomura Ups Wilmar To Strong Buy; S$3.50 Target
• Noble Dn 13.1% at S$0.695On BDI Fall, Lower Oil Price Impact
• CapitaCommercial Cut To Underperform Vs Neutral -CIMB
• Singapore Land Target Cut To S$3.54 From S$6.87 By CIMB
• City Developments Target Cut To S$8.55 From S$13.05 By CIMB
• UOL Group Downgraded To Underperform From Neutral By CIMB
• CapitaCommercial Trust Cut To Neutral Vs Outperform By CIMB
• Pacific Andes, China Fish May Rebound On Assurance
• UOB Target Cut To S$13.50 From S$17.60 By Citigroup
• DBS Target Cut To S$12.15 From S$16.75 By Citigroup
• OCBC Target Cut To S$6.00 From S$7.60 By Citigroup
• S'pore Banks May Get Boost From MAS Guarantee
• Indofood Agri Resources Started At Hold By Deutsche
• Golden Agri Started At Sell By Deutsche; S$0.16 Target
• Wilmar Raised To Strong Buy From Buy By Nomura

DJIA 8,577.91 (-733.08)

• Cosco +1.3% at S$0.805; Reverses Losses On Short Covering
• GIC Stake In UBS To Be Diluted From Convertible Sale
• SingPost Outperforming; Yield Attractive - UBS
• CIMB Upgrades Synear Food To Outperform. Keeps target price at S$0.35.
• Asian Shares Drop On US Econ Woes;Nikkei Dn 9.6%
• Cosco Dn 5.7% at S$0.75; Selling May Be Easing, S$0.7 Floor
• China Will Not Collapse - UBS
• World Bank Rules Out Immediate Crisis Fund For Southeast Asia
• Singapore Exchange Target Price Cut To S$6.60 Vs S$8 By CS
• SIA Off 5%; Outlook Hinges On Demand Recovery
• Wilmar Off 7.0%; Attractive Entry Point-Macquarie
• K-REIT Asia Cut To Neutral From Buy By Goldman Sachs
• SGX Target Cut To S$6.50 From S$7.50 By Morgan Stanley
• Cosco Corp Started At Sell By Deutsche; S$0.50 Target
• Singapore Airlines Target Cut To S$14.02 Vs S$15.57 By Daiwa

Closing STI index - October 2008

31 Oct: 1,786.01. -15.90
24 Oct: 1,600.28. -145.39
23 Oct: 1,745.67. -75.46
22 Oct: 1,821.13. -99.66
21 Oct: 1,939.22. +60.71
20 Oct: 1,932.65. +54.14
17 Oct: 1,880.66. -70.54
16 Oct: 1,946.12. -113.27
15 Oct: 2,059.39. -68.92
14 Oct: 2,128.31. +51.96
13 Oct: 2,076.35. +128.02
10 Oct: 1,942.50. -160.21
09 Oct: 2,102.71. +69.10
08 Oct: 2,051.57. -125.98
07 Oct: 2,177.55. +9.23
06 Oct: 2,168.32. -128.80
03 Oct: 2,297.12. -66.48
02 Oct: 2,363.60. +4.69
01 Oct: Hari Raya

DJIA 9.310.99 (-76.62)

• SGX +0.2% at S$5.86; Weaker 1Q Will Be No Surprise -Analyst
• China Sky Off 8.2% at S$0.28; Default Worries Overdone-CIMB
• Datacraft Asia: Holders OK Dimension Data Takeover Offer
• DMG Downgrades Cosco To Sell, Cuts Target price to S$0.86 from S$2.85
• Keppel Corp Off 3.8% at S$5.86; Orderflow May Slow - UBS
• S'pore Rig Builders Tumble On Oil, Credit Worries
• China XLX Fertiliser Started At Buy By Phillip Securities
• Venture Corp Target Cut To S$6.80 From S$17.00 By Deutsche
• Ezra Started At Buy By BNP Paribas; S$1.13 Target
• Keppel Corp Target Cut To S$7.00 From S$12.97 By Citigroup
• StarHub Raised To Outperform From Neutral By Macquarie
• SATS May Fall As Cargo, Passenger Ops Weaken

DJIA 9,387.61 (+936.42)

• Ex-Fed Volcker:Govt Intervention Distasteful But Necessary
• Cosco Turns Lower, Dn 12.5% at S$1.05;Funding Concerns Eyed
• Wilmar Target Cut To S$3.46 From S$5.59 By ABN Amro
• Jurong Technologies Target Cut To S$0.28 From S$0.35 By OCBC
• Sembcorp Industries Target Cut To S$4.00 From S$4.20 By CS
• Li Heng Chemical +7.3%; Prospects Dimming, Cuts target price to S$0.45 from S$0.75 - KE
• Yongnam Target Cut To S$0.15 From S$0.29 By Credit Suisse
• Tiong Woon Target Cut To S$0.45 From S$0.65 By Credit Suisse
• Hong Leong Asia Target Cut To S$1.50 From S$2.30 By CS
• Cosco Singapore Target Cut To S$0.55 From S$1.20 - CS
• Yangzijiang Raised To Neutral From Underperform - CS
• Sembcorp Marine Raised To Neutral From Underperform - CS
• Keppel Corp Raised To Neutral Vs Underperform - Credit Suisse
• UOB Target Cut To S$18.40 From S$22.30 By DMG
• DBS Target Cut To S$15.50 From S$18.80 By DMG
• OCBC Target Cut To S$7.80 From S$9.60 By DMG
• SPH Target Cut To S$3.75 From S$4.45 By UBS
• StarHub Target Cut To S$2.65 From S$3.05 By Citigroup
• SingTel Target Cut To S$3.20 From S$4.00 By Citigroup
• Sembcorp Ind Target Cut To S$3.40 From S$4.80 By JPMorgan

DJIA 8,451.19 (-128.00)

• CIMB Cuts NOL Target To S$1.35;Keeps Underperform
• STI +3.4%; Rebound May Not Last, 2038 Cap - DMG
• Sino Techfibre Dn 17.5% at S$0.165 On Production Vol Worries
• Parkway Target Cut To S$3.00 From S$3.22 By Credit Suisse
• SPH Target Cut To S$4.25 From S$5.10 By Cazenove
• Sembcorp Ind Target Cut To S$3.20 From S$4.90 By Goldman
• SembMarine Target Cut To S$3.00 From S$4.40 By Goldman Sachs
• Keppel Corp Cut To Neutral From Buy, slashes target price to S$6.70 from S$13.00. By Goldman Sachs
• Midas Target Cut To S$0.55 From S$0.95 By Credit Suisse
• NOL May Outperform; Hapag-Lloyd Jitters End
• OCBC Target Cut To S$7.56 From S$10.48 By Macquarie
• UOB Target Cut To S$18.95 From S$24.03 By Macquarie
• DBS Target Cut To S$18.13 From S$23.75 By Macquarie

DJIA 8,579.19 (-678.91)

• JPMorgan Cuts Venture Corp Target To S$11.00
• Techs Hit Most By Working Capital "Blowout" -Macq
• Parkway Life Off 5.6% at S$0.85; Defensive Allure Waning
• Many Asian Cos Not As Defensive As You Think -Macq
• Singapore Falls Into Recession; MAS Eases Policy
• Swiber Cut To Underperform From Outperform By Cazenove
• SingTel Dn 6.1% at S$2.76; Defensive But Not Risk Free
• Olam Down 12.5% at S$1.40; Commodity Price Worries Weigh
• Singapore Telecom Target Cut To S$3.35 From S$4.20 By Nomura
• Goldman Cuts SIA Eng To Neutral; S$2.00 Target
• S'pore Property Heavyweights Likely Down Sharply
• STI Eyed Below 2000 On US Cue, Recession Concerns
• Raffles Education Target Cut To S$0.90 From S$2.00 By UBS
• FerroChina Debt Worries Likely Hurt S'pore Shares
• Singapore 3Q GDP Down 6.3%; Econ In Recession
• Wilmar, Olam Likely Vulnerable To Profit-Taking
• Singapore MAS: Global Economic Outlook Has Deteriorated
• SIA Target Cut To S$13.95 From S$17.28 By Nomura
• Hyflux Target Cut To S$1.79 From S$3.18 By Nomura
• Venture Corp Target Cut To S$11.00 From S$15.00 By JPMorgan

DJIA 9,258.10 (-189.01)

• Ferrochina Says Another CNY4.5B In Loans May Also Become Due
• Ferrochina Says Unable To Pay CNY706M In Loans
• Bank Of America May Sell Part Of China Bank Stake
• Keppel Corp Cut To Underperform From Outperform By Daiwa
• STI +1.5% at 2,064.29; Off Highs; Outlook Uncertain-Trader
• Risk Of Fewer S'pore Rig Orders Up As Oil Falls
• Ezion Holdings Started At Buy, S$0.25 Target By Westcomb
• S'pore Property Stks Rebound; May Lack Momentum
• Asian Shares Mostly Higher But Much Caution Remains
• SIA Engineering Dn 1.4% at S$2.16; N/T Outlook Negative -KE
• NOL +1.7% ay S$1.77 But Weak Outlook Likely To Cap Gains
• China Kunda Tech Opens On SGX At S$0.22 Vs S$0.215 IPO Price
• JPMorgan Cuts SGX Target to S$7.50 from S$9.00; Keeps Overweight
• Singapore Palm, O&M Plays May Fall On Oil Drop
• Starhub Upgraded To Neutral Vs Underperform By Credit Suisse
• Tat Hong Target Cut To S$2.05 From S$2.75 By Credit Suisse
• China Kunda Likely Dn On Debut; IPO price of S$0.215, 1X Subscribed

DJIA 9,447.11 (-508.39)

• Daiwa Upgrades Cambridge Industrial Trust To Buy, lowers target price to S$0.70 from S$0.84
• CLSA Raises Yangzijiang To Buy;Keeps S$0.64 Target
• Temasek Passes On Bank Of America Offering - Sources
• Daiwa Cuts SembMarine Target To S$2.25
• S'pore STI Off 3.7%; Below 2100 For First Time Since Feb 05
• Venture Corp Down 8.9%; Consumer Spending Worries
• Kim Eng Cuts ASL Marine Target To S$1.62; Buy
• S'pore Property Stocks Down; Slowing Economy Eyed
• Ascott Residence Target Cut To S$1.06 From S$1.22 By UOB KH
• CapitaRetail China Off 3%; S$0.635 Support
• Straits Asia Resources Target Cut To S$2.25 Vs S$4.66 By OCBC
• Macquarie Cuts Chartered Semi To Underperform
• StarHub Started At Neutral By Goldman Sachs
• MobileOne Started At Buy By Goldman Sachs
• Goldman Starts SingTel At Sell; S$2.87 Target

DJIA 9,955.50 (-369.88)

• SPH Off 1.5%; Players Opt For Higher Beta Shares
• Singapore's Sept Foreign Reserves $168.8B Vs $170.1B In Aug
• Singapore 3Q GDP Likely Expanded Slightly;Mfg Weak
• SGX Target Cut To S$4.80 From S$7.00 By DBS Vickers
• Kim Eng Cuts target price for China Hongxing to S$0.47 from S$0.66, for China Sports to S$0.445 from S$0.66, for China Zaino to S$0.65 from S$0.90.
• Singapore CPO Stocks Likely To Fall On Oil Cue
• China Hongxing Sports Target Cut To S$0.47 Vs S$0.66 -Kim Eng
• OCBC Target Cut To S$8.13 From S$8.28 By CIMB
• DBS Target Cut To S$22.26 From S$23.11 By CIMB
• UOB Target Cut To S$21.78 From S$22.52 By CIMB
• Hyflux Water Trust Cut To Hold From Buy By DBS Vickers
• CS Cuts Target Price Of A-REIT, FCT, Saizen
• Singapore Telecom May Outperform On Rate Hike, maintains Neutral rating, S$4.00 target price.
• JPM Upgrades Cosco To Overweight; S$2.50 Target
• Frasers Centrepoint Target Cut To S$0.93 From S$1.57 By CS
• Ascendas REIT Target Cut To S$2.30 Vs S$2.86 By Credit Suisse

DJIA 10,325.38 (-157.47)

• S'pore Blue Chips Tumble; Retain Cash - ABN Amro
• Singapore STI Off 5.1% At 2179.29; Lowest Since June 2005
• NOL Off 4.7%; Container Mkt Outlook Tough - GS
• Singapore Palm Stocks Down On CPO Price Concerns
• SPH +0.3% at S$3.97 on Dividend Hopes; N/T Outlook Dim -DMG
• Venture Corp Target Cut To S$10 From S$11.86 By DBS Vickers
• Armstrong Industrial Target Cut To S$0.245 Vs S$0.445 By CIMB
• AIA: Parent AIG To Retain Majority Control Of Main Asia Ops
• Daiwa Cuts SMB United To Hold; S$0.155 Target
• SMB United Cut To Hold From Outperform By Daiwa
• Citigroup Cuts K-REIT Asia Target To S$0.95
• China Energy May Slip; Unit Jiutai Pledges Assets

DJIA 10,325.38 (-157.47)

• SMB United Cut To Hold From Outperform By Daiwa
• Citigroup Cuts K-REIT Asia Target To S$0.95
• China Energy May Slip; Unit Jiutai Pledges Assets

DJIA 10,482.85 (-348.22)

• S'pore Rig Builders Slump; Oil Price Drop Weighs
• S'pore Ppty Stks Extend Fall; Sentiment Poor -JPM
• Asian Shares Fall Before US Data, Likely House Vote
• ABN Amro cuts StarHub target price to S$2.20 from S$2.40, reiterates Sell rating.
• Singapore Exchange CEO: Current Market Environment Uncertain
• Keppel Corp Off 5.3%; Likely Support At S$7.20
• Singapore Petroleum Co Downgraded To Hold By DBS Vickers
• Midas Holdings Target Cut To S$0.60 Vs S$1.10 By DBS Vickers
• Macquarie Prime REIT Target Cut To S$1.11 Vs S$1.23 By Daiwa
• Suntec REIT Target Cut To S$1.66 from S$1.91 By Daiwa
• CapitaCommercial Target Cut To S$1.93 Vs S$2.46 By Kim Eng
• S'pore Private Home Prices In For Long Fall - CS
• Singapore Airlines Started at Underperform By Macquarie
• S'pore Transport Shrs May Outperform STI;Oil Fall
• Ascendas India Target Cut To S$0.85 From S$1.02 By JPMorgan
• SP AusNet Price Target Cut To A$1.31 Vs A$1.50 By UBS

DJIA 10,831.07 (-19.59)

• Genting International Invests S$300M More In Resorts World
• NOL Extends Gains On Relief Over Hapag-Lloyd Bid
• Singapore Pvt Ppty Prices Dn; First Fall Since 1Q '04
• STI Not At Trough Yet; Recession Big Risk - Citi
• Deutsche Bank cuts Li Heng Chemical Fibre target price to S$0.60 from S$1.40
• Suntec REIT Target Cut To S$1.55 Vs S$1.80 By BNP Paribas
• CDL Hospitality Target Cut To S$1.23 Vs S$1.90 By BNP
• Cambridge Ind Target Cut To S$0.66 Vs S$0.85 By BNP Paribas
• CapitaMall Target Cut To S$2.90 Vs S$3.58 By BNP Paribas
• CCT Target Cut To S$1.65 From S$2.35 By BNP Paribas
• China XLX Raised To Outperform From Neutral By Macquarie
• SMRT Downgraded To Neutral From Buy By DMG
• Neptune Orient Lines Target Cut To S$1.70 From S$3.30 By CS
• Merrill Lynch Starts ComfortDelgro At Buy
• Thai Beverage Makes THB3.9B Offer To Buy Rest Of Oishi Group

Hari Raya Puasa (Public Holiday)

• Stock Market closed