1. SGX UPDATES:
According to CIMB, assuming drug manufacturing or transport
engineering does not fall over the cliff, it believes
manufacturing can expand by about 5% in 2H13 (1H13: -3.2%)
to support 4% GDP growth in 2H13 or 3% for the full year. - See
more at:
Citing an improving macroeconomic backdrop, the government
raised its 2013 GDP outlook even though it lowered its trade
and NODX today due to the poor 1H13 trade performance.
Total trade (1H13: -5.5% yoy) and NODX (1H13: -8.8% YoY) was
cut to 2-3% yoy and 0-1% yoy, respectively, from 3-5% and 2-
4% previously. On a positive note, leading indicators such as
PMIs suggest improving global demand in the seasonally busier
half of the year.
With the help of an undemanding year-ago base (2H12 GDP
slowed to o.8% YoY due to euro zone and US fiscal cliff
worries), we expect the export drag to reduce in the coming
months.
TOP GAINERS & LOSERS
TOP GAINER % Change
CapitaLand Ltd +2.19%
Keppel Corp Ltd +1.44%
CapitaMall Trust +1.00%
Singapore Telecommun... +0.79%
ComfortDelGro Corp L... +0.77%
DBS Group Holdings L... +0.70%
City Developments Lt... +0.66%
CapitaMalls Asia Ltd +0.51%
Olam International L... +0.30%
TOP LOSER % Change
Golden Agri-Resource... -2.88%
Noble Group Ltd -2.22%
Thai Beverage PCL -1.75%
StarHub Ltd -0.69%
United Overseas Bank... -0.68%
Singapore Exchange L... -0.65%
Sembcorp Industries ... -0.39%
Singapore Airlines L... +0.20%
Singapore Technologi... +0.23%
Snapshot for Straits Times Index STI (FSSTI)
Open: 3,240.24 Day Range: 3,236.41 - 3,247.86 Year To Date: +4.58%
Previous Close: 3,232,24 52-Week Range: 2,931.60 - 3,464.79 1-Year: +9.07%
14
TH
AUG. 2013

2. STOCK RECOMMENDATION:
BUY JARDINE MATHESON HOLDINGS ABOVE 55.000 TG 55.150, 55.350 SL 54.840
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