SUPPORT  DEPTH

S$1.600  61,433,000  [34,495,000  B f S]

S$1.610  16,392,000  [11,100,000  B f S]

TOTAL  110,206,000  [55,289,000  B f S]

If we all know for sure, we can surely retire richer than Warren Buffett  

Tags: Genting Singapore | Genting Singapore Plc

WRITTEN BY THE EDGE

THURSDAY, 26 AUGUST 2010 16:29

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Singapore’s “integrated resorts” likely to have added about $470 million to Singapore economy in 1H 2010, DBS economist Irvin Seah says, according to Dow Jones. Seah says Las Vegas Sands’ (LVS) Marina Bay Sands resort and Genting Singapore’s (G13.SG) Resorts World Sentosa will likely add $2 billion in 2010, or 0.7 percentage points of expected +15% GDP growth. He adds “other services” component of 2Q GDP, which includes entertainment rose 12.9% on-year, vs historical +6.1% average, noting “contributions derived from the GDP statistics reflect only the direct impact of the IRs. The overall economic gains to the economy are likely to be significantly larger if the spinoffs to other industries are taken into account.”

Tags: DBS Bank | Las Vegas Sands

WRITTEN BY THOMSON REUTERS

THURSDAY, 26 AUGUST 2010 16:22

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Revenues from two new casino-resorts could contribute as much as $2 billion annually to Singapore’s economy, which is expected by the government to grow by up to 15% this year, DBS Bank said on Thursday. The two resorts have already contributed $470 million or 0.3 percentage points to gross domestic product (GDP), which grew 17.9% in the first half of 2010 from a year earlier, DBS economist Irvin Seah wrote in a report.   "If the GDP contributions by the integrated resorts continue to rise at the same pace going forward, we can expect full-year GDP contributions of about $2 billion from these projects," Seah said in the note.   That would translate into adding 0.7 percentage points to GDP for the whole of 2010, he said.   Singapore is counting on the two resorts opened earlier this year by Malaysia’s Genting Bhd (GENT.KL) and Las Vegas Sands (LVS.N) to help fuel tourism and economic growth. It hopes to double visitor arrivals to 17 million by 2015.   In July alone, at least 1 million people visited Singapore, the highest number the city-state ever saw in a month, after seven consecutive months of record monthly visitor arrivals.   “However, the contributions derived from the GDP statistics reflect only the direct impact of the IRs. The overall economic gains to the economy are likely to be significantly larger if the spinoffs to other industries are taken into account,” he said.

iPunter is so right ! 

Buy volume at 1.58 almost the same as sell volume at 1.60. Tough call today. Everything depends on the last 15 minutes before market closes. Good luck guys   

Hi BT

What is a wedge pattern? Pardon for asking, what will happen if it closes at 1.59? There are so many volumes traded today how come the price doesn't goes up? Thanks.

Playing by the big wedge,

     it is a bearish pattern...

          ie. it may not go higher in the coming days...

               But the pattern is just pattern,

                   Not a foolproof predictive indicator.

                         It is just a rational, objective basis to bet on...

                               If one's bet is wrong, vamoosh at once!

Look at your GentingSP chart's candlestick pattern. Yes one cent makes a difference.

Good stuff.

Thanks for sharing the updates.

Keep it up. 

 Don't underestimate the power of foreign investors. Also global markets tend to have a pull on STI, given the export-based economy of Singapore. 

niuyear      ( Date: 26-Aug-2010 15:46) Posted: Europeans also like to buy Genting meh. BullishTempo      ( Date: 26-Aug-2010 15:39) Posted:   European markets have opened. France, Germany and UK all up. Dow Futures positive. STI off 0.1%.  Market outlook not too bad, but risk appetite still low