01ST November 2013

Snapshot for Straits Times Index STI (FSSTI)

Open: Previous Close:

3,218.48 Day Range: 3,230.44 52-Week Range:

3,210.67 -3,227.53 Year To Date:

2,931.60 - 3,464.79 1-Year:

+4.25% +9.07%

SGX UPDATES: Singapore's GDP growth forecasts for 2013 and 2014 have been raised to 3.8% and 4.0% respectively, up from 2.9% and 3.5% previously. Better than expected third quarter growth compounded by the significant revision in the first half GDP numbers make for this upward adjustment. Third quarter GDP growth was initially projected to register -1.0% QoQ saar (5.1% YoY). But an upward revision is on the cards due a surprise spike in the electronics industrial output in September. Indeed, growth in the manufacturing sector will likely register 5.5% YoY instead of the advance estimate of 4.5%. Barring any significant revision to the growth figures for the construction and the services sectors, the better manufacturing growth will imply a 0.28%-pt increase in the headline GDP growth number and a likely upward revision in the 3Q13 GDP figure. Moreover, growth in both the services and the construction sectors are expected to come in slightly stronger than what the advance estimates had predicted. In addition, GDP growth figures for the first two quarters of the year have been revised upward. Arithmetically, this has lifted the growth trajectory for the entire year. Assuming moderate growth in the third and fourth quarter, full year GDP is now expected to expand 3.8%.

TOP GAINERS & LOSERS TOP GAINER Global Logistic Prop... CapitaLand Ltd Jardine Matheson Ho... CapitaMalls Asia Ltd Jardine Strategic Ho... Oversea-Chinese Bank Jardine Cycle & Carr Noble Group Ltd ComfffortDelGro Corp L TOP LOSER StarHub Ltd. Sembcorp Industries Genting Singapore PL. City Developments Lt... CapitaMall Ttrust.. Singapore Press Holding Singapore Airlines L Olam International L Keppel Corp Ltd
% Change

+2.01% +1.59% +1.56% +1.02% +1.02% +0.77% +0.66% +0.52% +0.26% % Change -0.45% -0.38% -0.34% -0.29% -0.26% -0.24% -0.19% 0.00% 0.00%

SELL CITY DEVELOPMENTS LTD BELOW 10.300 TG 10.240, 10.170, 10.070 SL 10.380

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