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STI to cross 3000 boosted by long-term investors

street81
Senior

05-Feb-2010 22:40

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Yells: "Learning to love the streets"

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Standby charcoal

kellychang ( Date: 05-Feb-2010 22:40) Posted:

drop like a hell now..

good luck!

street81 ( Date: 05-Feb-2010 22:35) Posted:

Very good, open green green....all the way green green please!!!

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kellychang
Master

05-Feb-2010 22:40

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drop like a hell now..

good luck!

street81 ( Date: 05-Feb-2010 22:35) Posted:

Very good, open green green....all the way green green please!!!

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street81
Senior

05-Feb-2010 22:35

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Very good, open green green....all the way green green please!!!

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smartrader
Elite

05-Feb-2010 22:27

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February 5, 2010, 9.40 pm (Singapore time)

US payrolls fall in Jan, jobless rate at 5-mo low

The Labour Department said the economy shed 150,000 jobs in December, compared to 85,000 previously reported, but November was revised to a gain of 64,000, up from 4,000. Annual benchmark revisions to payrolls data showed the economy has purged 8.4 million jobs since the start of the recession in December 2007.

Analysts polled by Reuters had forecast payrolls gaining 5,000 and the unemployment rate to edge up to 10.1 per cent in January from 10 per cent. Median estimates from the top 20 forecasters expected payrolls to be unchanged last month.

A sharp increase in the number of people giving up looking for work helped to depress the jobless rate. The number of 'discouraged job seekers' rose to 1.1 million in January from 734,000 a year ago.

With Americans increasingly anxious about high unemployment, President Barack Obama has declared that job creation will be his top priority in 2010.

His fellow Democrats fear voters could punish them in November congressional elections if the administration fails to make headway in tackling the high jobless rate.

Financial markets have grown nervous about the prospect of unemployment in the United States remaining high for a long time. The economy resumed growth in the second half of 2009 and labour market healing is crucial for a self-sustaining economic recovery to take root.

The economy grew at a 5.7 per cent rate in the fourth quarter, the fastest clip in six years. Growth was driven by businesses reducing their stock of unsold goods less aggressively that in previous quarters.

While job losses in prior months were steeper than previously thought, details of the January report supported views the blood bath has stopped.

Last month, the services sector added 40,000 jobs after shedding 96,000 positions. The figure included a rise in federal government employment, partly as a result of the hiring of staff for the 2010 Census. Temporary help employment rose 52,000, maintaining a rising trend seen in the past month.

Manufacturing payrolls rose 11,000 last month, the first gain since January 2007, after dropping 23,000 in December. But the construction sector, continued to struggle, losing 75,000 jobs, likely because of unusually cold weather. Construction payrolls fell 32,000 in December.

In another sign of labour market improvement, the average workweek unexpectedly rose to 33.3 hours, the highest level in a year, from 33.2 hours in December. Total average hourly earnings increased US$18.89 from US$18.84 in December.

Manufacturing overtime rose to 3.5 hours, the highest since September 2008. -- REUTERS

WASHINGTON - US employers unexpectedly cut 20,000 in January, but the unemployment rate surprisingly fell to a five-month low of 9.7 per cent, according to a government report on Friday that hinted at some labour market improvement starting to take root.

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smartrader
Elite

05-Feb-2010 22:24

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if it is 9.7% then it is better than 10.1% predicted by analysts... USD and Asia will grow .. Europe can continue with their slow growth for the past years..

Jackpot2010 ( Date: 05-Feb-2010 22:09) Posted:

Unemployment rate 9.7% - better than expected 10.1% - should be good news.

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kellychang
Master

05-Feb-2010 22:19

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i agree with u...

hahaha..silly boy...

hahahahahhaa....ben dan...

street81 ( Date: 05-Feb-2010 22:18) Posted:

i dun jump building, i burn charcoal and close all windows and switch on the air-con....

btw, dow fut green green liao, employment thing good news i guess...so tonight shd be green green.....then monday STI got hope....

kellychang ( Date: 05-Feb-2010 22:05) Posted:

DJ future jump from -77 to -7 now..

u think this one will help or not?

anyway..u n bon bon no need to jump building liao...

can celebrate today...

i got feel tonight dj will close green...

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street81
Senior

05-Feb-2010 22:18

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i dun jump building, i burn charcoal and close all windows and switch on the air-con....

btw, dow fut green green liao, employment thing good news i guess...so tonight shd be green green.....then monday STI got hope....

kellychang ( Date: 05-Feb-2010 22:05) Posted:

DJ future jump from -77 to -7 now..

u think this one will help or not?

anyway..u n bon bon no need to jump building liao...

can celebrate today...

i got feel tonight dj will close green...

street81 ( Date: 05-Feb-2010 22:01) Posted:

will this help the market tonight

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erictkw
Veteran

05-Feb-2010 22:16

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Aha... futures +ve alredi. Smiley

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Jackpot2010
Master

05-Feb-2010 22:09

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Unemployment rate 9.7% - better than expected 10.1% - should be good news.

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kellychang
Master

05-Feb-2010 22:05

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DJ future jump from -77 to -7 now..

u think this one will help or not?

anyway..u n bon bon no need to jump building liao...

can celebrate today...

i got feel tonight dj will close green...

street81 ( Date: 05-Feb-2010 22:01) Posted:

will this help the market tonight?

HLJHLJ ( Date: 05-Feb-2010 21:56) Posted:

From Finance Yahoo:

WASHINGTON (Reuters) - Employers unexpectedly cut 20,000 jobs in January, but the unemployment rate surprisingly fell to a five-month low of 9.7 percent, according to a government report on Friday that hinted at some labor market improvement starting to take root.

The Labor Department said the economy shed 150,000 jobs in December, compared to 85,000 previously reported, but November was revised to a gain of 64,000, up from 4,000. Annual benchmark revisions to payrolls data showed the economy has purged 8.4 million jobs since the start of the recession in December 2007.

Analysts polled by Reuters had forecast payrolls gaining 5,000 and the unemployment rate to edge up to 10.1 percent in January from 10 percent. Median estimates from the top 20 forecasters expected payrolls to be unchanged last month.

A sharp increase in the number of people giving up looking for work helped to depress the jobless rate. The number of 'discouraged job seekers' rose to 1.1 million in January from 734,000 a year ago.

With Americans increasingly anxious about high unemployment, President Barack Obama has declared that job creation will be his top priority in 2010.

Obama's fellow Democrats fear voters could punish them in November congressional elections if the administration fails to make headway in tackling the high jobless rate.

Financial markets have grown nervous about the prospect of unemployment in the United States remaining high for a long time. The economy resumed growth in the second half of 2009 and labor market healing is crucial for a self-sustaining economic recovery to take root.

The economy grew at a 5.7 percent rate in the fourth quarter, the fastest clip in six years. Growth was driven by businesses reducing their stock of unsold goods less aggressively that in previous quarters.

While job losses in prior months were steeper than previously thought, details of the January report supported views the blood bath has stopped.

Last month, the services sector added 40,000 jobs after shedding 96,000 positions. The figure included a rise in federal government employment, partly as a result of the hiring of staff for the 2010 Census. Temporary help employment rose 52,000, maintaining a rising trend seen in the past month.

Manufacturing payrolls rose 11,000 last month, the first gain since January 2007, after dropping 23,000 in December. But the construction sector, continued to struggle, losing 75,000 jobs, likely because of unusually cold weather. Construction payrolls fell 32,000 in December.

In another sign of labor market improvement, the average workweek unexpectedly rose to 33.3 hours, the highest level in a year, from 33.2 hours in December. Total average hourly earnings increased $18.89 from $18.84 in December.

Manufacturing overtime rose to 3.5 hours, the highest since September 2008.

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street81
Senior

05-Feb-2010 22:01

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will this help the market tonight?

HLJHLJ ( Date: 05-Feb-2010 21:56) Posted:

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HLJHLJ
Veteran

05-Feb-2010 21:56

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smartrader
Elite

05-Feb-2010 21:38

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focus on selective stock to ride the growth in Asia...

February 5, 2010, 11.38 am (Singapore time)

Update: DBS Q4 net profit beats forecast, CEO under pressure

* DBS Q4 net profit $493m; Reuters consensus $372m
* Higher fee income, tax writeback boosts profit
* Takes $384m provision on largely non-Asian bad debt
* Says eyeing growth in markets such as Taiwan, Indonesia
* Shares down 1.3% as Wall Street weighs

Mr Gupta: 'In Taiwan, we have delivered a profit a year ahead of schedule... We have strengthened our franchise in Indonesia, growing to 40 branches in 11 cities'

'The stock should be driven by three factors in next three to six months: rates outlook, loan growth and changes to the strategic direction post new CEO taking charge,' said JPMorgan analyst Harsh Wardhan Modi in a note.

Mr Gupta's 'plans for the bank should be instrumental in driving the outlook,' he said.

The fourth-quarter results, which saw Southeast Asia's biggest bank post a 67 per cent jump in earnings, are DBS's first under new chief executive Mr Gupta, who took over the helm last year.

Investors are hoping he will herald the Singapore lender's expansion outside the republic and Hong Kong and guide the bank to a formidable presence across Asia.

Related articles:
	Click here for DBS's news release
	Performance summary
	Slide presentations

DBS said its October-December net profit was $493 million (US$348 million) versus $295 million a year ago, its second straight quarter of earnings expansion. The bank's year-ago performance hit by the global crisis was its worst quarterly result in three years.

The bank saw a 43 per cent increase in non-performing loans (NPL) which was offset by strong gains in fee and commission income.

Analysts were mostly unimpressed with the result because a tax writeback contributed to the earnings boost and bad debt charges surged 43 per cent from a year earlier.

DBS shares were down 1.3 per cent at 0114 GMT, better than the Singapore market which dropped 2 per cent following sharp losses on Wall Street.

'2009 was a tough year by any measure and the team has done well,' said Mr Gupta in a statement.

'We are also making progress in our growth markets. In Taiwan, we have delivered a profit a year ahead of schedule... We have strengthened our franchise in Indonesia, growing to 40 branches in 11 cities.'

Mr Gupta, formerly Southeast Asia head for Citibank, joined DBS at a time when Asian economies led by China and India have staged a strong recovery and bubbly markets are helping banks boost their wealth management services to the rich.

Tax writeback
DBS's fourth quarter was clouded by its exposure to a unit of Dubai World, which is trying to restructure some US$22 billion in debt repayments.

DBS took $384 million in bad debt charges, but did not specify how much of that loss came from loans linked to Dubai World. Overall non-performing loans (NPL) jumped 43 per cent from $269 million a year earlier.

Its earnings figure included the tax writeback of $47 million which prompted Morgan Stanley's Matthew Wilson to question the quality of the result.

'Bottom line is all a tax adjustment,' he said. The net impact of the tax benefit was around $129 million, given that DBS would normally have had a tax bill of $82 million, he said.

Analysts had forecast a net profit of $372 million, factoring in big losses from DBS's exposure to the Dubai World unit, according to the average of five forecasts in a Reuters survey.

DBS's fourth-quarter gains were driven by a 36 per cent jump in fee and commission income, as the bank advised on CapitaLand's US$2 billion IPO of its shopping mall unit, Singapore's biggest listing in 16 years.

DBS, 28 per cent-owned by Singapore state investor Temasek, saw loan growth of 3 per cent in the fourth quarter from a year ago. Housing loans expanded 7 per cent.

Quarterly net interest income rose 1 per cent to $1.1 billion as net interest margins fell to 2.02 per cent from 2.04 per cent.

The outlook for Singapore banks in 2010 has improved on the back of an economic rebound in Asia, feverish capital market activity and likely decline in bad debt charges.

Singapore bank shares have weakened this year after a sharp rally last year when financials globally recovered from the market meltdown in 2008.

DBS shares have fallen about 7.8 per cent so far this year, against a 9.2 per cent drop in shares of Oversea-Chinese Banking Corp and 6.4 per cent drop for United Overseas Bank. -- REUTERS

SINGAPORE - DBS Group chief executive Piyush Gupta is under pressure to deliver a strong business strategy after a tax writeback and soft year-ago figures raised concerns about the quality of the bank's earnings boost in the last quarter.

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risktaker
Supreme

05-Feb-2010 21:13

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Yells: "Sometimes you think you know, but in fact you dont"

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Dow Jone might only get real support @ 9200-9400 range :P

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trader9988
Senior

05-Feb-2010 21:09

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STI now sitting on the 150SMA....what are the odds it will rebound up ...... or it will keep sliding dwn to the 200SMA... any view on this>>>>>>

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yummygd
Supreme

05-Feb-2010 19:14

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haha Bon Bon you should really publish a book on all the stories you tell haha Its really interesting and you can mail one to boy boy.

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Hulumas
Supreme

05-Feb-2010 18:19

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Yells: "INVEST but not TRADE please!"

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"BANGSAT" is even shortest!

AK_Francis ( Date: 05-Feb-2010 18:06) Posted:

Ha ha, joke of d day.

"Kurang ajar" should be d short n sharp words to reply d owner, not d cat, he he.

Bon3260 ( Date: 05-Feb-2010 17:27) Posted:

Ya, I was sitting @ my window there juz now looking dwn.

I saw a cat din cover back e sands aft passed motions. Shit!!! So I went dwn 2 e Malay's cat owner... Guess wat e Malay said...

"Mind ur own business..."

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AK_Francis
Supreme

05-Feb-2010 18:06

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Yells: "Happy go lucky, cheers."

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Ha ha, joke of d day.

"Kurang ajar" should be d short n sharp words to reply d owner, not d cat, he he.

Bon3260 ( Date: 05-Feb-2010 17:27) Posted:

Ya, I was sitting @ my window there juz now looking dwn.

I saw a cat din cover back e sands aft passed motions. Shit!!! So I went dwn 2 e Malay's cat owner... Guess wat e Malay said...

"Mind ur own business..."

boyikao3 ( Date: 05-Feb-2010 16:44) Posted:

I think uncle bon now sitting on his window sill looking down.....thinking, "how far is this going to fall ?"

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Bon3260
Supreme

05-Feb-2010 17:27

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Yells: "Ooo Ooo Aaa Aaa!"

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Ya, I was sitting @ my window there juz now looking dwn.

I saw a cat din cover back e sands aft passed motions. Shit!!! So I went dwn 2 e Malay's cat owner... Guess wat e Malay said...

"Mind ur own business..."

boyikao3 ( Date: 05-Feb-2010 16:44) Posted:

I think uncle bon now sitting on his window sill looking down.....thinking, "how far is this going to fall ?"

street81 ( Date: 05-Feb-2010 16:12) Posted:

bon bon where are u

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victorf
Master

05-Feb-2010 17:24

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I am 85% in cash now as today take profit off the table from Starhub (though not all) as i bought it near $1.89 (and already collected 5 cents dividend)......not bad as taking profit is never wrong....more and more uncertainty in market now...very tough to trade....good luck :)

NB: Informatics Education is the only counter i am still accumulating.....good luck :)

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