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Latest Forum Topics / YZJ Shipbldg SGD Last:2.42

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Cruising with the ship ..Yangzijiang

RoundStar
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12-Jul-2008 23:54

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So Monday is long or short for this counter?

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12-Jul-2008 23:53

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LONDON - Oil prices rocketed to record highs above 147 US dollars on Friday as traders seized on the weak US currency and tensions over Iran and Nigeria at the end of a very volatile trading week.

London's Brent North Sea oil for August delivery jumped as high as 147.50 US dollars to beat the previous record of 146.69 US dollars set on July 3.

New York's main oil contract, light sweet crude for August, also topped 147 US dollars for the first time to reach a historic 147.21 US dollars.

Oil prices swept back into record territory after the European single currency leapt as high as 1.5913 dollars -- not far off the historic peak of 1.6019 that was hit on April 22.

The weak dollar boosts demand for dollar-priced oil which becomes cheaper for buyers using stronger currencies, analysts said.

"Crude futures continued to rally today (Friday), extending their gains from yesterday on renewed geopolitical and supply fears," said Sucden analyst Andrey Kryuchenkov.

"As ever, the market remains very sensitive to any potential supply disruptions and geopolitical tensions," he added.

Oil rallied by almost six US dollars on Thursday on the back of simmering geopolitical tensions over key producer Iran and worries over stretched global crude supplies, traders said.

Oil had dived below 140 US dollars on Monday as a result of a then strengthening US currency, underlining the extreme volatility that the market is currently experiencing.

On Friday, traders continued to track Iran, which is OPEC's second-biggest crude oil producer with output of about 4.0 million barrels per day.

The White House played down the risk of war between Iran and the United States, despite Iranian missile tests and some tough talk by US Secretary of State Condoleezza Rice.

Rice warned Iran that Washington had beefed up its security presence in the Gulf and would not hesitate to defend its ally Israel.

Iran insists its nuclear drive is aimed solely at generating energy but some Western nations fear it could be aimed at making an atomic bomb and have called for a freeze of uranium enrichment.

OPEC would not be able to replace Iran's oil production if supplies were halted in case of a war with Israel or the United States, the oil cartel's chief has said.

In crude producer Nigeria, meanwhile, kidnappers seized at least one foreigner working for a German company in the restive Niger Delta oil region, a police source said on Friday.

The delta has seen numerous kidnappings targeting foreign energy firms, claimed by militants who demand a greater share of the oil wealth for the region's inhabitants.

Violence in the southern delta region has already reduced Nigeria's total oil production by a quarter since January 2006.

Record oil prices have sparked protests worldwide as people struggle to cope with soaring costs of energy. - AFP/ir

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RoundStar
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12-Jul-2008 23:50

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Australian iron ore miner Midwest

SYDNEY : China's Sinosteel won a seven-month battle for control of Australian iron ore miner Midwest Friday and analysts said it remains keen to snap up more resource assets in the country.

Midwest told the Australian stock exchange that Sinosteel had acquired a majority 50.97 percent stake to seal the 1.36 billion dollar (1.31 billion US) takeover.

Sinosteel's relentless pursuit of Midwest has sparked debate in Australia about state-controlled Chinese firms -- so-called China Inc -- buying mining firms so they can directly control the resources needed for the country's industrial expansion.

Sinosteel saw off a rival bid from Murchison Metals during the takeover tussle and at one point went hostile after the Midwest board rejected its opening bid of 5.60 dollars a share.

It eventually succeeded after raising its offer to 6.38 dollars a share, securing support from the Midwest board, including several directors who sold their personal stakes in the company to help it exceed the 50 percent mark.

A spokeswoman for Sinosteel's public relations firm said the company had no comment on the development.

But Sinosteel is now expected to turn its attention to Murchison, which controls iron ore deposits in Western Australia close to Midwest's.

Sinosteel applied to Australia's Foreign Investment Review Board earlier this year to lift its stake in Murchison but the regulator has put a decision on hold for three months as it considers the implications.

Analysts said acquiring Murchison would make sense for Sinosteel, with potential savings from a Murchison-Midwest tie-up estimated at 400 million dollars.

"Sinosteel have secured a production base by taking over more than 50 percent of Midwest, so anything else is cherries on top and that's probably what Murchison would be," DJ Carmichael analyst James Wilson said.

"It is an obvious next step, it makes the right sense to have Murchison and Midwest together."

China's interest in gaining control of iron ore supplies has been heightened by skyrocketing prices, including increases of 80-97 percent recently negotiated by Anglo-Australian giants BHP Billiton and Rio Tinto.

Direct ownership of Australian iron ore would help lessen China's dependence on BHP and Rio.

Beijing has expressed concern that BHP's proposal for a 147 billion US dollar merger with its rival would create a behemoth with too much control of world iron ore markets.

China's state-controlled aluminium company Chinalco combined with US-based Alcoa to buy a nine percent stake in Rio for 14 billion US dollars in February in a move seen as a direct response to the merger proposal.

Australian officials predict Chinese investment in Australia could triple to 30 Australian billion dollars (28.2 billion US) this year.

Treasurer Wayne Swan last week said Australia had an open, non-discriminatory foreign investment policy but would also consider the national interest when examining proposals in the resources sector.

"The question here is, is it in our national interest for a buyer of our resources to control our resource-producing companies?" he told reporters.

"That's the decision that I have to make."

Midwest shares closed up 10 cents at 6.50 dollars in an overall market that was up 0.9 percent.

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surfboard
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11-Jul-2008 17:26

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Swee Swee closing... Smiley

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RoundStar
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11-Jul-2008 15:48

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Expect a rebound before the downtrend resumes.

- Yangzijiang has slid on the back of high volume over the last few trading sessions. This is an indication that the downtrend momentum is strong and would persist.

- The price drop has crept close to the 1st support at S$0.78. Given the oversold position of the short-term stochastic indicator, we anticipate a short rebound.

- The stock could test the 1st resistance at S$0.90, which was a reversal and consolidation level over the last 3 months. But a price move above this resistance would be capped by the short-term downtrend line around S$0.94- 0.95; it is also in proximity to the 50- and 100-day moving averages.

- The downwards trending MACD indicates that the underlying sentiment is still negative. Hence we expect the rebound to be short-lived and after which the downtrend would resume, retesting the support at S$0.78 and subsequently heading for the support at S$0.62.

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boochap
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11-Jul-2008 13:58

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why so chicken?

only a few cents gain make u so happy.

jackjames ( Date: 08-Jul-2008 16:25) Posted:

heng ! let go at 0.81.. not bad la... the profits can compromise my beloved biosensro drop , ha ha ha...

but , i will be back, YZJ !!!

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surfboard
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11-Jul-2008 12:38

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Swee Swee

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AK_Francis
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11-Jul-2008 01:34

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Yells: "Happy go lucky, cheers."

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If CO and metal don't go down, this burger will suffer. likewise for other local and overseas ship and oil rigs builders.

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RoundStar
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10-Jul-2008 19:18

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so what is the next support line and resistance line for this one.

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surfboard
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10-Jul-2008 17:06

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Swee Swee

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trader88.sg
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10-Jul-2008 08:00

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Not impossible!

jackjames ( Date: 10-Jul-2008 06:46) Posted:

got power to drop to 0.775 again for me to collect again?

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jackjames
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10-Jul-2008 06:46

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got power to drop to 0.775 again for me to collect again?

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AK_Francis
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09-Jul-2008 15:55

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Yells: "Happy go lucky, cheers."

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SHI gained ground leh, despite HSI n Nikkie trim gain. got chance to hv another 0.005cts later. ha ha.

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nickyng
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09-Jul-2008 15:50

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dun thk it will cross 82.5cts barrier today siah :P

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AK_Francis
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09-Jul-2008 09:48

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Yells: "Happy go lucky, cheers."

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ha ha, fr dry dock, now set sailing. cheers.

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surfboard
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09-Jul-2008 09:44

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Swee Swee

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williamyeo
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08-Jul-2008 21:07

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		Singapore Exchange	Overseas Exchange
1	Date of Purchases	08-07-2008
2a	Total number of shares purchased	997,000
2b	Number of shares cancelled	0
2c	Number of shares held as treasury shares	997,000
3a	Price paid per share# or	Currency : S$ Amount : 0.795	Currency : [Select Currency] Amount :
3b	Highest price per share#	Currency : [Select Currency] Amount :	Currency : [Select Currency] Amount :
	Lowest price per share#	Currency : [Select Currency] Amount :	Currency : [Select Currency] Amount :
4	Total consideration (including stamp duties, clearing charges, etc) paid or payable for the shares#	Currency : S$ Amount : 793,865.94	Currency : [Select Currency] Amount :

# Specify currency

II. Purchases made by way of off-market acquisition on equal access scheme? No

If answer to the above question is Yes, please fill in the following :

		Singapore Exchange	Overseas Exchange
1	Date of Purchases
2a	Total number of shares purchased
2b	Number of shares cancelled
2c	Number of shares held as treasury shares
3	Price paid or payable per share#	Currency : [Select Currency] Amount :	Currency : [Select Currency] Amount :
4	Total consideration (including stamp duties, clearing charges, etc) paid or payable for the shares#	Currency : [Select Currency] Amount :	Currency : [Select Currency] Amount :

# Specify currency

	By way of market acquisition		By way of off-market acquisition on equal access scheme		Total
	No.	% ¹	No.	%	No.	%
Cumulative no. of shares purchased to-date ²	19,597,000	0.594			19,597,000	0.594

¹ Percentage of company's issued shares excluding treasury shares as at the date of the share buy-back resolution
² From the date on which the share buy-back mandate is obtained

(D)	Number of issued shares excluding treasury shares after purchase *	3,281,300,000
	Number of treasury shares held after purchase*	19,597,000

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jackjames
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08-Jul-2008 16:25

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heng ! let go at 0.81.. not bad la... the profits can compromise my beloved biosensro drop , ha ha ha...

but , i will be back, YZJ !!!

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jackjames
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08-Jul-2008 09:12

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me out from 0.81 too ....

in view of huge almost 300 points swing in DOW last night (measured peak to peak)

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louis_leecs
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07-Jul-2008 16:47

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Yells: "half cash"

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yes,,,,sold out my portio at 82cts,,,,,,,,mybuy 80.5cts out liao,,,,cheers,,,,,,,,wait for buy low or if higher than sell againnn

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