Thanksgiving Day

• Parkway Hldgs Target Cut To S$2.44 From S$3.36 By Macquarie
• Olam Down 2.1% at S$0.94; Leverage Is A Risk - Deutsche
• Hongguo International Downgraded To Sell From Buy -Citigroup
• Keppel Corp Cut To Underperform From Neutral By CIMB
• STX Pan Ocean Cut To Underperform Vs Buy By Merrill Lynch
• Noble +2.1% at S$0.955; Gaining From China Iron Ore Demand
• Otto Marine Opens On SGX At S$0.45 Vs S$0.51 IPO
• Ezra May Slip; Orderbook, Capex Under Review, Citigroup maintains Sell rating, S$0.55 target price.
• Keppel Likely Down On Order Cancellation Worries
• CapLand May Underperform On Failed Office Sale
• MobileOne Target Raised To S$2.40 From S$2.21 By UBS
• Starhub Target Cut To S$2.40 From S$2.80 By UBS
• StarHub Cut To Hold From Buy By BNP Paribas; S$2.25 Target
• Venture Corp Target Cut To S$8.30 From S$15.00 By Macquarie

DJIA 8,726.61 (+247.14)

• N Korea, US Likely To Meet Next Week On Nuclear Issue -Yonhap
• SingTel Off 3.4% at S$2.54 On Concerns Over India Ops
• Venture Corp Upgraded To Buy From Hold By DBS Vickers
• Hyflux Target Cut To S$1.65 From S$2.95 By UBS; Kept Neutral
• Parkway Holdings Target Cut To S$1.30 From S$1.80 By JPMorgan
• Golden Agri Target Cut To S$0.40 From S$1.10 By BNP Paribas
• Sembcorp Marine Target Cut To S$2.10 Vs S$3.00 By Merrill
• Wilmar Target Cut To S$3.40 From S$3.80 By BNP Paribas
• Sembcorp Industries Target Cut To S$3 Vs S$4 By Merrill
• Keppel Corp Target Cut To S$5.25 Vs S$6.15 By Merrill Lynch
• Cosco Corp Target Cut To S$0.55 Vs S$1.20 By Merrill Lynch

DJIA 8,479.47 (+36.08)

• Suntec REIT Target Cut To S$0.71 From S$1.05 By CLSA
• CapitaCommercial Target Cut To S$0.95 From S$1.55 By CLSA
• City Developments Target Cut To S$6.31 From S$7.71 By CLSA
• UOL Group Cut To Underperform From Outperform By CLSA
• Cerebos Pacific Target Raised To S$5.42 From S$4.86 By CIMB
• China Aviation Oil Started At Neutral, S$0.705 Target By DMG
• DBS Target Cut To S$10.30 Vs S$11.30 By DMG; Kept At Neutral
• OCBC Downgraded To Neutral From Buy By DMG
• Singapore Telecom Upgraded To Buy Vs Hold By Deutsche Bank
• CapitaCommercial Trust Target Cut To S$0.63 Vs S$0.73 By UBS
• CapitaMall Trust Target Cut To S$2.20 From S$2.78 By JPM

DJIA 8,443.39 (+396.97)

DJIA 8,046.42 (494.13)

• Chartered, Jurong Tech, Olam Most Geared - JPM
• Noble +6.1% at S$0.785; Valuation, Balance Sheet Supportive
• Standard Chartered Considers $3 Billion Rights Issue-Sources
• Indofood Agri Resources Cut To Neutral From Buy By Goldman
• Singapore October CPI Likely Eased To +5.95% On Year
• First Resources Target Cut To S$0.20 From S$0.30 By DBS
• Wilmar Target Cut To S$2.50 From S$2.80 By DBS Vickers
• Parkway Target Cut To S$2.10 From S$2.80 By UBS; Keeps Buy

DJIA 7,552.29 (-444.99)

• Indofood Agri +2.5% at S$0.405; Unit LonSum Expands Landbank
• Olam Intl Target Cut To S$1.86 From S$4.00 By Cazenove
• Wilmar Target Raised To S$3.00 From S$2.50 By Macquarie
• Singapore Govt Announces S$2.3 Billion Stimulus Package
• Singapore O&M, Palm Stocks May Be Hit By Oil Drop
• S'pore Cuts 2008 GDP Outlook;3Q GDP Dn 0.6% On-Yr
• Singapore Ministry Of Trade: Expect More Job Cuts In In 2009

DJIA 7,997.28 (-427.47)

• GIC In Early Talks With GE Over Possible Investment-Source
• OCBC Restarts Keppel Land At Buy, S$2.43 Target
• OCBC Restarts Keppel Corp At Buy, S$5.28 Target
• Yanlord Off 1.7% at S$0.58; No N/T Rebound In Sight - CIMB
• Cosco Corp Target Cut To S$0.85 From S$2.20 By CLSA
• Goldman Cuts OCBC Target To S$6.20; Keeps Buy
• Yangzijiang Dn 7.9% at S$0.41;Shr Buyback Support Weak-DBSV
• Venture Corp Started At Reduce By BNP Paribas, S$3.20 Target
• Singapore Exchange Target Cut To S$3.95 From S$5.20 By DMG
• China XLX Fertiliser Target Cut To S$0.50 From S$0.70 By DMG
• Keppel Corp May Slip Despite S$340M Contract Wins
• UOB Target Cut To S$14.20 From S$19.80 By Goldman Sachs
• DBS Target Cut To S$11.70 From S$18.70 By Goldman Sachs

DJIA 8,273.58 (-223.73)

• Swiber Hldgs Target Cut To S$1.00 From S$2.93 By DBS Vickers
• China Hongxing Sports Restarted At Buy By ML; S$0.40 Target
• Olam Intl Cut To Underperform. Target Cut To S$1.00 From S$2.60 By Merrill Lynch
• Sembcorp Ind Target Cut To S$3.39 from S$5.10 By Macquarie
• SembMarine Target Cut To S$3.05 from S$5.20 By Macquarie
• Straits Asia Target Cut To S$2.60 from S$4.30 By Macquarie
• Hongkong Land Target Cut To US$2.50 From US$4.40 By JPMorgan
• Cosco Corp Started At Underperform By Macquarie
• Golden Agri Started At Buy By ABN Amro; S$0.29 Target

DJIA 8,497.31 (-337.94)

• DB Cuts Li Heng Target To S$0.45; Keeps Buy
• Jardine Matheson Down 7.7%; $18.80 Support
• Fraser & Neave Target Cut To S$3.09 From S$4.91 By CIMB
• Citi cuts Jardine Strategic target price to US$12.00 from US$15.40, Keeps Hold
• CityDev Target Cut To S$6.60 From S$8.90 By Citi; Keeps Hold
• AusGroup Target Cut To S$0.40 From S$0.95 By JPMorgan
• Li Heng Target Cut To S$0.45 From S$0.60 By Deutsche
• Olam Target Cut To S$1.75 From S$3.00 By Deutsche; Keeps Buy
• Olam May Fall; 1Q Good But Outlook Hazy - UBS maintains Buy rating, S$1.96 target price.
• Goldman Ups SingTel To Neutral; S$2.53 Target
• China Sky Cut To Neutral From Outperform By Credit Suisse
• F&N May Fall But In-Line 4Q Results To Support
• Olam Target Cut To S$2.10 From S$3.65 By Credit Suisse

DJIA 8,835.25 (+552.59)

• F&N Off 6.2% at S$3.05 Ahead Of Full-Yr Results; S$3 Floor
• Yanlord Off 8.3% at S$0.715; Macquarie Cuts Target Price
• Credit Suisse downgrades Straits Asia Resources to Neutral from Outperform, cuts target price to S$1.25 from S$1.90 following disappointing 3Q08 results.
• Olam International 1Q Net Profit S$14.9M Vs S$9.2M
• City Devt Target Cut To S$6.4 From S$7.26 By Credit Suisse
• Genting Intl Flat, Underperforms Mkt On Weak 3Q, cuts target price to S$0.36 from S$0.45
• Yongnam +14.3% On Strong 3Q Results; S$0.085
• Straits Asia Resources Target Cut To S$1.25 Vs S$2.25 By OCBC
• Tat Hong Cut To Underperform From Hold By Daiwa
• UOB Target Cut To S$16.00 From S$18.60 By UBS
• OCBC Target Cut To S$5.32 From S$7.10 By UBS
• DBS Target Cut To S$15.30 From S$20.00 By UBS
• SingTel Target Cut To S$2.70 From S$3.20 By Citigroup
• ComfortDelGro Target Cut To S$1.25 From S$1.44 By Citigroup
• First Resources Target Cut To S$0.54 Vs S$1.09 By Citigroup
• Genting Target Cut To S$0.29 From S$0.49 By JPMorgan

DJIA 8,282.86 (-411.30)

• Olam Down 8.6% at S$1.17 On Commodity Demand, Price Worries
• Yanlord Down 6.2% at S$0.76; CIMB Cuts Target To S$1.15
• Global Econ Recovery Unlikely Until 2010 Or 2011-Morgan Stanley
• Olam Target Cut To S$0.88 from S$1.16 By CLSA
• SC Global Off 1.7% at S$0.58 As Gearing Concerns Weigh
• Daiwa Cuts SingTel Target To S$2.26; Keeps Hold
• Synear Dn 10.6% at S$0.21,Weak 2Q Net Pft;JPM Ups To Neutral
• Allgreen Properties Target Cut To S$0.48 Vs S$0.68 By CS
• Kencana Agri Cut To Fully Valued From Buy By DBS Vickers
• NOL Dn 6.5% at S$1.15; Weak Container Demand Into 09-Nomura
• SingTel Target Cut To S$3.36 From S$3.93 By BNPP; Keeps Buy
• SGX Target Cut To S$4.60 Vs S$6.20 By Goldman; Keeps Neutral
• Tat Hong Hldgs Target Cut To S$0.91 From S$1.78 By OCBC
• Li Heng May Fall But Special Dividend S$0.015/share Support Eyed
• Hyflux Cut To Neutral From Buy By Nomura; S$1.93 Target
• Singapore Telecom Raised To Buy From Hold By ABN Amro
• Wilmar Target Cut To S$3.09 Vs S$3.46 By ABN Amro; Keeps Buy

DJIA 8,693.96 (-176.58)

• Singapore Telecom Target Cut To S$3.09 From S$3.85 By OCBC
• CLSA Cuts SIA To Underperform; S$10.80 Target
• Golden Agri Pares Losses; Posts Strong 3Q Results
• UOB KH Cuts STX Pan Ocean Target To S$0.90
• Hong Leong Asia Off 1.5% Post 3Q; S$0.635 Floor
• Citigroup Cuts Noble Target To S$1.55; Keeps Buy
• Hong Leong Asia Target Cut To S$1.00 From S$2.70 By DMG
• ST Eng May Outperform On S$200M Contract Win
• Synear Food May Fall; 3Q Net Profit Down 55% Y/Y
• Singapore Airlines Cut To Hold From Outperform By Daiwa
• Hong Leong Asia Target Cut To S$0.70 From S$1.65 By JPMorgan
• SingTel Warns Of Slowing Growth As 2Q Net Pft Drops
• Hong Leong Asia Cut To Neutral From Outperform By CS
• Biosensors Intl Target Cut To S$0.66 From S$1.03 By OCBC
• Wilmar Intl 3Q Net More Than Doubles On Strong Sales
• Noble Group Target Cut To S$1.55 From S$2.92 By Citigroup

DJIA 8,870.54 (73.27)

DJIA 8,943.81 (+248.02)

• Genting Intl Flat; Sands Casino Worries Weigh. Maintains Neutral call but cuts target price to S$0.45 from S$0.65.
• SingTel 2Q Net Profit Likely Down 13% Y/Y - Poll
• Ascendas REIT Off 2.4% at S$1.64, After Key Tenant Defaults
• UBS Cuts SembMarine Target To S$3.00; Keeps Buy
• Genting Intl Target Cut To S$0.45 from S$0.65 By CIMB
• Sembcorp Industries Target Cut To S$3.73 From S$4.80 By UBS
• Deutsche Downgrades SIA To Sell; S$9.60 Target
• CapitaLand Seeks To Sell Properties Worth Over S$300M -Report
• China Hongxing Sports Cut To Hold From Buy By Deutsche
• DBS Target Cut To S$10.00 From S$12.50 By Morgan Stanley
• DBS Group Target Cut To S$12.00 From S$22.40 By HSBC
• DBS Target Cut To S$12.70 From S$20.10 By OCBC; Kept At Hold
• Venture Corp Target Cut To S$7.16 From S$11.10 By Kim Eng
• Sembcorp Industries Downgraded To Hold From Buy By Kim Eng
• DBS Downgraded To Hold From Buy By Kim Eng
• Singapore's '09 Budget To Tackle Business Costs, Jobs -Report

DJIA 8,695.79 (-443.48)

• Olam Dn 0.9% at S$1.17; Off Lows But Heavy Gearing Eyed
• Merrill Lynch Cuts Keppel Corp Target To S$6.15
• Merrill Lynch Downgrades SPC To Underperform. Cuts target price to S$2.00 from S$10.00
• SIA Target Cut To S$7.00 From S$12.00 By Cazenove
• SIA Target Cut To S$13.00 Vs S$18.30 By CIMB; Keeps Neutral
• Raffles Education +0.8% at S$0.60; Growth To Slow -Analysts
• ST Engineering Target Cut To S$3.00 From S$3.80 By Macquarie
• Citi Cuts SIA Target To S$9.00; Reiterates Sell
• DBS Group 3Q Net Profit S$379M Vs S$610M; Expected S$572M
• Olam Intl Target Cut To S$1.60 Vs S$3.20 By DMG; Kept At Buy

DJIA 9,139.27 (-486.01)

• Olam, Noble Financing Worries Overdone, reiterates Outperform with unchanged S$3.65 target, reiterates Outperform with unchanged S$3.45 target. - CS
• STX PO Dn 8.7% at S$0.94; More Sector Weakness Ahead - JPM
• SembMarine Off 10.7%; Citi Cuts Target To S$2.50
• KepLand Off 10.1%; JPM Cuts Target To S$1.56
• UOB KayHian Downgrades Hour Glass To Hold
• UBS Upgrades Venture To Buy; S$9.00 Target
• OCBC Target Cut To S$5.10 From S$8.60 By Kim Eng
• Sembcorp Marine Target Cut To S$2.40 From S$3.54 By Kim Eng
• Singapore Banks Down; Worst Not Over - Merrill
• China Hongxing May Slip; Support From Shr Buyback
• OCBC Target Cut To S$6.80 From S$7.80 By DMG; Kept At Buy
• StarHub May Head Lower; 3Q Below Forecast, cuts target price to S$2.80 from S$3.10. - UBS
• SembMarine Target Cut To S$2.50 From S$2.85 By Citi

DJIA 9,625.28 (+305.45)

• StarHub 3Q Net Profit S$79.5M Vs S$81.3M
• Wilmar Intl Completes $36M Investment
• OCBC 3Q Net Drops 13% On Higher Allowances
• Singapore Exchange Limited announced Wednesday that it will launch Extended Settlement (ES) contracts on 23 January 2009.
• DBS Vickers Cuts Fibrechem To Hold; S$0.28 Target
• SembMarine May Rise; 3Q Ahead Of Forecast - MS
• SingTel Has Sold More Than 35,000 iPhones In Singapore-Report
• SingTel Target Cut To S$2.95 From S$3.50 By Morgan Stanley
• SingTel Raised To Outperform From Neutral By Macquarie
• Raffles Medical Started At Hold By Deutsche; S$0.60 Target
• ST Eng Target Cut To S$2.80 From S$3.20 By Citi; Keeps Buy
• ST Eng Target Cut To S$2.50 Vs S$2.95 By UBS; Keeps Neutral

DJIA 9,319.83 (-5.18)

• HL Finance Off 1.4% at S$2.10; CS Cuts Target To S$1.90
• CS Cuts Hyflux Target To S$2.67; Outperform
• SingTel Off 8.4%; DBSV Downgrades; S$2 Support
• SMRT Target Cut To S$1.71 From S$2.05 By UBS
• China XLX Fertiliser Target Cut To S$0.40 From S$0.95 By Citi
• Rickers Maritime Target Cut To S$0.27 From S$0.52 By Citi
• HL Finance May Fall; 3Q Net Profit Drops 16%
• STX Pan Ocean Target Cut To S$0.85 Vs S$3.75 By Credit Suisse

Closing STI index - November 2008

28 Oct 2008: 1,732.57. +22.05
27 Oct 2008: 1,711.06. -0.07
26 Oct 2008: 1,711.13. +57.88
24 Oct 2008: 1,626.01. -36.09
21 Oct 2008: 1,662.10. +48.15
20 Oct 2008: 1,612.03. -53.56
18 Oct 2008: 1,696.94. -52.73
17 Oct 2008: 1,749.27. -9.87
14 Oct 2008: 1,754.94. -0.53
13 Oct 2008: 1,752.41. -31.60
12 Oct 2008: 1,785.77. -21.19
10 Oct 2008: 1,882.73. +19.24
07 Oct 2008: 1,863.49. +44.29
06 Oct 2008: 1,819.20. -49.62
05 Oct 2008: 1,868.82. +39.13
03 Oct 2008: 1,883.75. +89.55

DJIA 9,325.01 (+144.32)

• DBS Vickers Cuts SMRT To Hold, Cuts target price to S$1.60 from S$2.00,
• MobileOne A Buy On Broadband Prospects, Dividend
• Chartered Semi +4.4% at S$0.235; Downside Limited - DBSV
• CapitaLand Target Cut To S$2.30 From S$4.21 By CIMB
• Keppel Land +10.3% at S$2.04 On New Govt Land Measures
• China XLX Fertiliser Downgraded To Hold Vs Buy By DBS Vickers
• SMRT Upgraded To Outperform From Neutral By CIMB
• Hyflux Target Cut To S$2.67 Vs S$3.60 By Credit Suisse
• Raffles Ed Target Cut To S$1.20 From S$1.75 By Credit Suisse
• NOL +3.3% at S$1.25, But Underperforms Mkt; MS Cuts Target
• Macquarie Cuts Keppel Corp Target To S$5.40
• BNPP Starts SembMarine At Buy; S$2.35 Target
• UOB Target Cut To S$13.50 From S$19.30 By Phillip Securities
• CapitaLand Target Cut To S$2.62 From S$3.71 By OCBC