Singapore Today - NetResearch

In Singapore, rotational interest after recent price falls helped prop up selected stocks. The STI index closed 10.32 points higher at 2378.64 points but was off its 2387.78 points high due to profit taking. Investors were also more selective ahead of the abbreviated trading week ahead, due to the Chinese New Year holidays. Market breadth was good on 1.5 advances for every stock that fell while 660 issues were unchanged. Turnover was 1.3bil shares with a value of $1bil traded.

Interest and volume continued to be on the smaller cap penny stocks and selected China plays. Oil services stocks were in play with China Petro-tech adding 5 cents at 46 cents on 9.3mil shares. Advanced Holdings rose 3 cents at $1.08, helped by institutional buying while Tech Oil and Gas rose 7 cents at 45.5 cents on 18mil shares on hopes of further contract wins.

On the earnings front, Creative results announced this morning disappointed in that earnings were below what one would have expected from a seasonally peak quarter.
STATS results were better than the company’s guidance but
the company is still negative cash flow