DJIA 8,149.01 (-226.44)

• Noble Group Considering Bid For Straits Asia Stake - Source
• Singapore Unemployment To Average 4.2% In 09-Citi
• OCBC Cuts Noble Target To S$1.58; Keeps At Buy
• S'pore Labor Mkt To Be Hit Hard By Recession-HSBC
• Keppel Confirms Rowan Wants Review Of Payment Terms On 4 Rigs
• Goldman Sachs cuts CDL Hospitality Trusts target to S$0.74 from S$1.59; Mapletree Logistics Trust target to S$0.45 from S$0.70; maintains Neutral rating on both stocks.
• Asian Coffee Prices Up On London Futures Gains; Trading Light
• Singapore 4Q Adj Unemployment Rate 2.6% Vs 2.2% In 3Q
• Ascott Residence Trust Cut To Outperform From Buy By Daiwa
• Mapletree Log Target Cut To S$0.45 From S$0.70 By Goldman
• Ascendas REIT Raised To Neutral From Sell By Goldman Sachs
• Chartered Semi May Slip On Weak 4Q, Guidance
• Noble Target Cut To S$1.58 From S$1.83 By OCBC; Keeps Buy

DJIA 8,375.45 (+200.72)

• Credit Suisse trims target price to S$4.80 from S$4.90
• Keppel Off 1.7% at S$4.11; Rowan Suspension To Weigh - DBS
• SingTel Bought 175M Warid Shares For $75M
• NOL Off 0.9% at S$1.14; Downturn May Be Worst Ever - Citi
• DBS Down 1.0% At S$8.90 On CEO Leukemia Diagnosis
• Three Creditors Seek Repayments From Jurong Tech
• Koh Brothers Gets S$144.6M Construction Project >K75.SG
• Parkway Holdings Started At Hold By OCBC Investment Research

DJIA 8,174.73 (+58.70)

• Singapore Air:Cuts More Routes;Suspends Some Flight Services
• S'pore Ppty Stks Up; Weak Data Priced In-Brokers
• Cosco +3.9% at S$0.805 But Order Postponement Eyed;S$0.83 Cap
• Frasers Centrepoint Trust +2.3% at S$0.0665; Suburban Malls Defensive - Brokers
• Suntec REIT Target Cut To S$1.07 From S$1.33 By UOB KH
• Singapore Air Reduces Business Class Flights To US - Report
• SMRT May Head Higher; 3Q09 Beat Consensus - DB maintains Buy rating with S$1.95 target price.
• US Dollar Falls Vs Singapore Dollar; Traded At S$1.4993

Chinese Lunar New Year

• market closed

DJIA 8,122.80 (-105.30)

• Deutsche Bank Cuts CapitaMall Target To S$2.30
• Goldman Sachs Cuts Keppel Corp Target To S$3.20
• CapitaLand Mulls Rights Issue To Raise About S$1.5B -Sources
• CapitaMall Trust Target Cut To S$2.51 From S$2.86 By Citi
• Westminster Travel Opens On SGX Unchanged At S$0.235 IPO
• Singapore Budget May Aid Banks' Loan Growth - JPM
• CapitaMall Trust Downgraded To Hold From Buy By OCBC
• Singapore Budget A L/T Positive For Ppty Mkt - MS
• STI May Slip Ahead Of Holiday; Support At 1677

DJIA 8,228.10 (+279.01)

• Singapore Fin Min: Corporate Tax Cut To 17% From 18%
• Singapore:To Defer For 2 Yrs Ppty Tax For Land OKed For Devt
• Fin Min: 40% Ppty Tax Rebate For Indus, Commercial Ppties
• Singapore Fin Min: To Spend S$2.6B In Tax Measures, Grants For Cos
• Singapore Fin Min:Budget Includes S$20.5B Stimulus Package
• Singapore Fin Min: S$5.1B Will Go To Save Jobs
• Singapore Fin Min:S$5.8 Billion To Stimulate Bank Lending
• Keppel Land Target Cut To S$1.45 Vs S$1.52 By Goldman Sachs
• City Developments Issues S$100M Islamic Trust Certificates
• N/T Prospects For S'pore Conglomerates Dim - Citi
• Macquarie Cuts Chartered Semi Target To S$0.15
• Hyflux Water Trust Down 1.6% at S$0.305; CEO Resigns
• Keppel Land Target Cut To S$1.87 From S$2.17 By DBS Vickers
• USD/SGD May Trade In 1.4920-1.5050 Range
• Chartered Semicon Target Cut To S$0.15 Vs S$0.20 By Macquarie
• KepLand's Profit Fall, Outlook May Restrain Shrs
• CapitaMall Trust 4Q Distribution 3.65 Singapore Cents/Unit
• First Ship Lease Downgraded To Hold From Buy By UOB KayHian
• STI Expected To Rise On US Stks, Budget Hopes

DJIA 7,949.09 (-332.13)

• Credit Suisse Cuts Wing Tai Target To S$0.61
• Asia Cos' Hiring Expectations In 1Q Fall Sharply - Survey
• Asian Shares Lower Though Not As Bad As Feared
• SPC Rebounds, +0.5% at S$2.24;Upside Limited As Outlook Dim
• S'pore Construction Shares Likely To Be Hurt
• US Dollar Rises Vs Singapore Dollar; Trades At S$1.5120
• Singapore 4Q GDP Down 16.9% On Qtr; Mkt Expected Down 13.1%
• Singapore GDP Forecast Points To Heavy Spending
• Singapore 4Q GDP Posts Record Fall, '09 Outlook Dims

DJIA 8,281.22 (+68.73)

• Singapore 4Q GDP Record Fall; Dec Output, CPI Down
• S'pore Shipping Trusts Face Covenant Risk-OCBC
• CS Cuts S'pore Property Developer Targets. Cuts CapitaLand target to S$2.21 from S$2.78, City Developments target to S$4.78 from S$6.40, Keppel Land target to S$1.55 from S$2.48.
• Singapore Rig, Ship Builders 4Q Net Likely Weak
• SembMarine Down 3.1% at S$1.56; Petromena Fears Weigh
• SPC Target Cut To S$4.50 From S$6.20 By Cazenove
• MobileOne Target Cut To S$1.40 From S$1.52 By Daiwa
• SIA Target Cut To S$14.00 From S$15.00 By UBS; Keeps Buy
• JPM Cuts CapitaRetail China Target To S$1.05
• USD Trades At S$1.5004 Vs S$1.4890 In Late Asian Trade Mon

DJIA 8,281.22 (+68.73)

• Macquarie Cuts SIA Target To S$10.07 Vs S$12.20
• AmFraser Starts KepLand At Hold; S$1.80 Target
• Ascendas REIT Target Cut To S$1.49 From S$1.91 By Daiwa
• S'pore Banks Oversold, DBS Top Pick - ABN Amro
• China Alone Can't Save Us
• CS Cuts SembMarine To Underperform; S$0.95 Target
• Singapore Airlines Target Cut To S$10.07 Vs S$12.20-Macquarie
• Ascendas REIT Target Cut To S$2.02 From S$2.20 By Citi
• Singapore Petroleum Co Target Cut To S$3.10 Vs S$4.20 -UOB KH
• Yongnam May Head Higher On S$185.5M Contract
• OCBC Target Cut To S$5.00 From S$5.60 By ABN Amro
• UOB Target Cut To S$14 From S$17 By ABN Amro
• MobileOne Downgraded To Neutral From Buy By DMG

DJIA 8,212.49 (+12.35)

• Singapore Yongnam Holdings Gets S$185.5M Contact
• S'pore Ppty Market Won't Bottom Until 2010 - CS
• Singapore Dec Exports Contract For 8th Consecutive Mo
• UOB KayHian Cuts SGX Target To S$3.0, Keeps Sell
• Ascendas REIT Target Cut To S$1.89 Vs S$2.32 By Deutsche Bank
• Goldman Sachs Upgrades OCBC To Buy Vs Neutral. Targets S$9.70.
• UOB KayHian Upgrades ST Engineering To Buy, raises target price to S$2.83 from S$2.40
• Asia Exports Drop Due To China, Less So US-Westpac
• Singapore Airlines Cuts 214 Flights As Demand Falls -Report. Can't Rule Out Layoffs, Pay Cuts
• JPM Upgrades NOL To Neutral; S$1.10 Target
• SGX Target Cut To S$5.80 From S$6.60 By CS; Keeps Neutral
• Singapore Dec Exports Likely -20% Led By Electronics
• Ascendas REIT Seeks S$400M In Pvt Placement,Preferential Offer

DJIA 8,200.14 (-248.42)

• Singapore Exchange 2Q Net Profit S$74.7M Vs S$156.4M
• Wilmar Cut To Neutral From Buy By UBS; S$3.00 Target
• Singapore Dec Exports Likely Down 20% - Poll
• CIMB Cuts Ezra Target To S$0.96 From S$1.05
• ABN Amro Cuts DBS Target To S$11.00; Keeps Buy
• Venture Unlikely To Suffer Jurong Tech's Fate-BNPP
• Asian Shares Hit By Tech, US Woes; Kospi Dn 5.2%
• Goldman Cuts M1 Target To S$2.49; Keeps Buy
• Ezra Off 11.8% at S$0.675 As 1Q Disappoints; S$0.63 Support, Maintains as Buy but trims target to S$1.12 from S$1.20
• UOL Bid For UIC Unlikely To Succeed-ABN Amro, unchanged S$2.10 target price.
• HSBC Starts NOL At Underweight; S$1.10 Target
• STI Likely To Fall On US Lead; 1711 Support
• Ezra May Slip; 1Q Below Forecast - JPMorgan. Reports 93% on-year drop in 1Q09 net profit to US$9.3 million

DJIA

• ABN Amro Cuts Ascendas REIT Target To S$1.90
• UOL Grp Unit To Buy 15.86M United Indus Shrs For S$1.20 Each
• ABN Amro Upgrades CapitaMall Trust To Hold, cuts target to S$1.85 from S$2.00
• Singapore Banks Still Biggest Underweight - CS
• Singapore Airlines To Stop 3 Wkly Flights From India - Report
• Golden Agri Target Raised To S$0.37 From S$0.29 By ABN Amro
• OCBC Bank Seeks Payment Of $38M Under Facility
• CS Overweight Singapore Water Stocks; Hyflux Top
• S'pore O&M Stocks Head Up; Citi Still Cautious
• CIMB Raises SingTel To Outperform, Ups Target price to S$3.10 from S$2.72
• Asian Shares Turn Up In Choppy Trade; Oil Stks Gain

DJIA 1,774.08 (-2.17)

• Asian Shares End Mostly Lower On Earnings Woes
• Olam +2.4% at S$1.30; Resilient Amid Downturn - Nomura
• UBS Cuts SPH Target To S$3.18, Keeps Neutral
• Raffles Medical Downgraded To Sell From Buy By UOB KayHian
• SPH Dn 2.0% at S$2.96 On Weak 1Q; Ad Revenues May Tumble-DB
• Allgreen Properties Target Cut To S$0.51 Vs S$0.60 By Goldman
• Wing Tai Hldgs Target Cut To S$0.73 Vs S$0.90 By Goldman
• CityDev Target Cut To S$5.20 Vs S$6.80 By Goldman Sachs
• CapitaLand Target Raised To S$3.72 Vs S$3.30 By Goldman Sachs
• Keppel Land Target Cut To S$1.52 Vs S$2.40 By Goldman Sachs
• CS Tips Relatively Stable China Consumer Demand
• Singapore Press Target Cut To S$3.25 Vs S$4.01 By DBS Vickers
• Singapore Press Hldgs Target Cut To S$3.88 Vs S$4.35 By DMG
• Singapore Press Hldgs Target Cut To S$3.77 Vs S$4.01 By CIMB
• S'pore Ppty Stocks Rebound Is "Bear Trap" - Citi
• Goldman Sachs Downgrades Keppel Land To Sell, cuts target price to S$1.52 from S$2.40
• Citi Downgrades CityDev To Sell; S$5.05 Target

DJIA 1,794.73 (-11.29)

• CIMB Cuts Frasers Centrepoint Target To S$1.06
• Cosco Dn 6.3% at S$0.82;More Contract Cancelations Eyed-DMG
• DBS Group:No Exposure To Kuwaiti Bank Global Investment House
• S'pore Market To Recover Only In 2H09 - Nomura
• China XLX Fertiliser Cut To Fully Valued Vs Hold -DBS Vickers
• Singapore Petroleum Started At Buy By UBS; S$2.80 Target
• Keppel Corp May Fall On $405M Order Cancelation
• Singapore Tourist Arrivals Miss 2008 Goals;'09 Likely "Tough"
• Starhub Target Cut To S$2.10 From S$2.60 By Merrill Lynch
• MobileOne Target Raised To S$1.50 From S$1.44 By Merrill
• China Milk Products Target Raised To S$0.67 Vs S$0.55 By DMG
• Frasers Centrepoint Target Cut To S$1.06 From S$1.13 By CIMB
• Sembmarine Target Cut To S$2.15 From S$2.80 By Credit Suisse
• Keppel Corp Target Raised To S$3.60 Vs S$3.40 - Goldman Sachs

DJIA 8,742.46 (-27.24)

• S'pore Telcos Higher; Stay Overweight - Nomura
• Chartered Semi +5.0% at S$0.315; Valuation Stretched-CLSA
• SIA Target Cut To S$10.75 From S$11.25 By CLSA; Underperform
• Great Eastern Shipping Cancels 2 Cosco Carrier Contracts
• Cambodian Prime Minister May Skip Asean Summit - Spokesman
• Citi Keeps SIA At Sell; Earnings Cycle Has Peaked
• First Resources Downgraded To Sell From Neutral By DMG
• S'pore Developers Best Avoided In Near Term - CS
• Macquarie Cuts Cosco Corp Target Price To S$0.65
• OCBC Downgrades Golden Agri-Resources To Hold
• JPMorgan Cuts SPH Target To S$3.90 From S$4.65

DJIA 8,769.70 (-245.40)

• Li Ka Shing Foundation Sells Bank Of China Shares
• Kim Eng Cuts Goodpack Target To S$1.04;Keeps Hold
• Singapore Minister: Hard To Tell When Economy Will Rebound
• Lenovo Plunges After Profit Warning, Layoffs
• CityDev Dn 4.7% at S$6.53 But Default Worries Misplaced-UOB maintains Buy rating, S$8.15 target price.
• SingTel +0.4% at S$2.53; Defensive Traits Eyed; S$2.57 Cap
• Starhub Upgraded To Buy From Hold By DBS Vickers
• SGX Down 2.3% S$5.52; Bear Market Not Over Yet-Citigroup
• S'pore Mkt Cheap But Stay Defensive Early 09-Macq
• Delong Likely To Fall; Expects FY08 Loss
• Noble Target Raised To S$1.52 From S$1.35 By ABN Amro
• STI Likely Down; 1800 Floor; Oil Price Fall Eyed
• Straits Times Index Target Cut To 1380 From 1560 By DMG

DJIA 9,015.10 (+62.21)

• Iran Starts '09 Fuel Oil Term Talks; Wide Price Gap
• CapitaLand Considering Rights Issue To Raise Capital -Source
• Yangzijiang Cut To Outperform From Buy By CLSA
• CIMB Cuts SGX Target To S$6.39; Keeps Outperform
• Golden Agri +11.9% at S$0.33 On Higher CPO Prices
• StarHub Dn 3.6% at S$1.88;New COO Support Eyed;S$1.76 Floor
• Wilmar +2.5% at S$3.33 But CPO Rally To Fade 2Q09 - MS
• Fuel Oil Trader Highlander Shuts Singapore Office Dec-Traders
• Asian Shares Rise; Miners Lead As Metal Prices Jump
• STI +2.3% at 1,958, REITs Outperform; Resistance At 2000
• Cosco +3.0% But FY09 Earnings Outlook Hazy-Nomura
• Singapore Exchange Target Cut To S$6.39 From S$6.51 By CIMB
• CapitaCommercial May Rise; Gets S$580M Loan
• US Dollar Lower Vs Singapore Dollar; Traded At S$1.4683
• UOB Target Cut To S$16.86 From S$18.95 By Macquarie
• DBS Target Cut To S$11.00 From S$13.65 By BNP Paribas
• SembMarine Target Cut To S$2.23 From S$2.50 By BNP Paribas

DJIA 8,952.89 (-81.80)

• Time To Position For Recovery In S'pore Mkt -KE
• Celestial +1.2% at S$0.415; Raw Material Costs Easing
• STI Down 1% at 1,905.30But N/T Upside Bias Intact - Analyst
• S'pore Shipping Stks Up But Outlook Still Cautious
• Singapore Exchange Orders NEL To Appoint Special Auditor
• DBS Target Cut To S$9.50 From S$11.50 By Credit Suisse
• New Starhub COO Positive But No N/T Impact-Analyst
• S'pore Property Stks May Have S/T Upside-JPMorgan
• Singapore Press Target Cut To S$4.20 From S$4.70 By UOB KH
• STI May Slip But US Stimulus, S'pore Budget Eyed

DJIA 9,034.69 (+258.30)

• Golden Agri +18.4% at S$0.275;Has Surplus CPO To Sell-Analyst
• SPH Down 2.2% at S$3.19; Ad Spending At Risk - CLSA
• S'pore Property Stocks Face Tough Outlook - CLSA
• Singapore Rigbuilders Rally On Oil Price Boost
• STI +2.1% at 1,868.78; 1900 Cap; Bad News Discounted -Analyst
• ST Engineering Upgraded To Buy From Hold By DBS Vickers
• CIMB Cuts Cosco Target To S$0.58 From S$0.80
• Cosco Target Cut To S$0.42 From S$0.55 By HSBC; Underweight
• S'pore Plantations Sharply Up; Golden Agri +10.2% at S$0.27
• HSBC keeps Singapore equity market at Overweight with STI target of 1900 for end-2009
• CapitaLand Downgraded To Hold From Buy By OCBC
• Singapore Petroleum Reviewing Investment Projects -Report
• STI May Rise; Bad News Largely Captured - Dealer
• Singapore Equity Market To Bottom In 1Q09 -UOB KH

Closing STI index - January 2009

30 Jan 2009: 1,744.72 (-22.00)
29 Jan 2009: 1,763.15 (-2.93)
28 Jan 2009: 1,760.61 (+75.38)
27 Jan 2009: CNY
26 Jan 2009: CNY
23 Jan 2009: 1,685.23 (-23.54)
22 Jan 2009: 1,708.77 (+4.25)
21 Jan 2009: 1,696.47 (-26.90)
20Jan 2009: 1,721.66 (-25.33)
16 Jan 2009: 1,733.11 (+29.05)
15 Jan 2009: 1,704.06 (-60.66)
14 Jan 2009: 1,764.72 (+2.90)
13 Jan 2009: 1,768.65 (-7.60)
09 Jan 2009: 1,810.69 (-16.92)
08 Jan 2009: 1,827.61 (-52.97)
07 Jan 2009: 1,883.25 (-30.41)
06 Jan 2009: 1,913.66 (-11.21)
02 Jan 2009: 1,799.72 (+38.16)

DJIA 8,776.39 (+108)

• STX Pan Ocean +6.0% at $S9.54; S$9.77 Resistance Tipped
• Singapore Post Started At Buy By OCBC; S$0.93 Target
• Deutsche Cuts Cosco Target To S$0.41; Keeps Sell
• China Essence Resumed At Hold By Westcomb; S$0.25 Target
• STI May Rise On First 09 Session; 1804 Resistance
• Singapore Econ To Reach Bottom In 2H09 -Economist
• Singapore Govt Bonds To Rise; Econ Worries Key
• S'pore Govt Tips 2009 GDP At Minus 2% To +1%