On Friday, STI was flat throughout the day however the index rally up 10 points during the last 5min of the share matching period(5.00pm-5.05pm), ending at 3229. Although this is a bullish sign where investors are buy up during the last min, but we think that the drop in the US weights more and hence we are expecting STI to open lower on Monday. STI immediate support at 3215, strong support at 3150 and 3116.
Taiwan will be closed the entire week, while China, South Korea will be closed from Wednesday. Hong Kong and Singapore will have a half-session of trading on Wednesday and then close for the rest of the week, and Singapore will be closed from Thursday.
M1 (M1 SP, $2.41, TP $2.88, BUY) – Special dividends
could become the normal order of business for M1 as
capital needs stabilise. Following the declaration of a
special DPS of $0.03, management has promised to
regularly review the company’s capital structure.
Depending on comfort level viz gearing, additional
payouts could range from $0.03 to $0.21 a share.
Beyond this, 2011 prospects are also becoming more
concrete and exciting. Source: KimEng
I also think this is a good stock for risk adverse investor, a good entry will be 1 bid above previous day high, stoploss at $2.39
