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STI to cross 3000 boosted by long-term investors
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richtan
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14-Apr-2009 18:16
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From DMG: Technical View – Global Indices - Index: Selling pressure to be limited to 2,200 – 2,250, Dow Jones Industrial Average: Still bearish – 100-day moving average a tough nut to crack, S&P 500 Index: Targeting the 780 level, Hang Seng Index:
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ticklish8
Senior |
14-Apr-2009 18:07
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Sing dollar report April 14 (Bloomberg) – Singapore’s dollar rose to a two- month high after the central bank said it sees no reason for “any undue weakening” of the local currency, signaling it doesn’t plan to add to a devaluation announced today. The Monetary Authority of Singapore, following a twice- yearly policy review, today lowered the trading band in which the local currency is managed and said it doesn’t plan to seek further depreciation as the economy is “sound.” Gross domestic product fell an annualized 19.7 percent in the last quarter from the previous three months, more than double the 9.6 percent shrinkage forecast in a Bloomberg survey of economists. Singapore’s dollar gained 1 percent to trade at S$1.5017 versus the U.S. currency as of 4:35 p.m. local time. It earlier reached S$1.4963, the strongest since Feb. 11. The median estimate of 21 analysts surveyed by Bloomberg News before today’s decision was for the currency to weaken to S$1.59 by end-June. “People were expecting a more aggressive move given the disastrous GDP,” Sean Callow, a Sydney-based currency strategist at Westpac Banking Corp. said in an interview. “If now is not the time to adopt significant easing, then they never will.” The MAS conducts its monetary policy by guiding the Singapore dollar within an undisclosed trade-weighted band of major trading partners’ currencies. It adopted a faster currency appreciation stance in October 2007, announced a one-off strengthening in April 2008 and halted gains altogether at the last policy meeting in October. ‘Re-Centered’ Band The central bank said the currency, which has slid 3.8 percent so far this year versus the U.S. dollar, largely moved in the lower half of the policy band since the October review. The band was “re-centered” to the “prevailing level of the Singapore dollar nominal effective exchange rate,” it added. A lowering of the policy band was forecast by 15 of 17 economists surveyed by Bloomberg News last month, though DBS Group Holdings Inc., HSBC Holdings Plc, UBS AG and Westpac all said they expected a steeper devaluation than was announced. DBS, Singapore’s biggest bank, maintained its forecast for the currency to weaken 3.7 percent to S$1.56 by the end of June, according to a research note published today. The MAS move “was against market expectations of a more aggressive re-centering below the current Singapore dollar NEER level,” wrote Daniel Hui, a foreign exchange strategist at HSBC in Hong Kong, in a note today. “The relatively conservative tone was reinforced by a reiteration of Singapore’s fundamentals and noting there was no reason for any undue weakening.” Shrinking Economy The economy may shrink between 6 percent and 9 percent this year, more than a January forecast for a contraction of as much as 5 percent, the trade ministry said in a statement today. Non- oil domestic exports fell 17 percent from a year earlier in March, sliding for an 11th straight month, according to government data released today. Exporters are losing out to regional rivals after Singapore’s dollar weakened 9.5 percent in the past year, compared with a 26 percent loss in the South Korean won and 20 percent slide in India’s rupee. |
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ticklish8
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14-Apr-2009 18:06
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penny stock rally. But what got me worried was Topsage in CNA forum turn bullish... April 14 (Bloomberg) –Singapore’s Straits Times Index advanced 1.1 percent to 1,897.02 at the close, wiping out losses of as much as 1.5 percent and extending its two-day, 5.2 percent advance. Two stocks gained for each that dropped among the gauge’s 30 constituents. The following companies were among the most active in the stock market today. Stock symbols are in parentheses after company names. Construction companies: CSC Holdings Ltd. led gains among Singapore construction stocks after government data showed the industry expanded even as the nation’s economy sank deeper into recession. CSC Holdings soared 44 percent to 13 Singapore cents, the most since May 2003. Yongnam Holdings Ltd. surged 36 percent to 15 Singapore cents, the highest close since Aug. 7, and Koh Brothers Group Ltd. climbed 23 percent to 18.5 cents. Palm-oil suppliers: Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm oil producer, surged 6 percent to 35.5 Singapore cents, its highest close since Sept. 25. Palm oil for June delivery rose as much as 5.4 percent in Kuala Lumpur today, adding to the 7.9 percent advance in the past three days. Wilmar International Ltd. (WIL SP), the world’s biggest palm oil trader, added 1.2 percent to S$3.34. Indofood Agri Resources Ltd. (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, gained 1.3 percent to 76.5 Singapore cents. Cosco Corp. Singapore Ltd., (COS SP), a China-based shipbuilder that also operates bulk carriers, surged 6.1 percent to S$1.05, its highest since Dec. 15. The stock yesterday closed above its 150-day moving average for the first time since January 2008, data compiled by Bloomberg show. That indicates a “buy” signal, said Najeeb Jarhom, analyst at AmFraser Securities Pte. in Singapore. Singapore Press Holdings Ltd. (SPH SP), the city-state’s biggest newspaper publisher, dropped 1.4 percent to S$2.85. The company said second-quarter profit dropped 13 percent after the recession hurt advertising revenue. It cut its interim dividend to 7 Singapore cents a share from 8 cents a share. For Related News and Information: Global stock stories: TOP STK GO For most read Asian stories: MNI ASIA GO World equity index monitor: WEI GO World equity valuations: WPE GO –Editors: Tony Jordan, Darren Boey. To contact the reporter on this story: Jonathan Burgos in Singapore at +65-6212-1156 or jburgos4@bloomberg.net. To contact the editor responsible for this story: Darren Boey |
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rabbitfoot
Veteran |
14-Apr-2009 17:48
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Looks like STI is on an upper trend breakout ! Up, up and away | ||||
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richtan
Supreme |
14-Apr-2009 17:44
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From market talk Technical Outlook for STI
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des_khor
Supreme |
14-Apr-2009 17:28
Yells: "Tell me who is the God or MFT from this forum??" |
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wow.... kenal 4D also no so chon man...
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ozone2002
Supreme |
14-Apr-2009 17:25
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vol hit 2 bil!.. SGX big beneficiary.. |
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des_khor
Supreme |
14-Apr-2009 17:24
Yells: "Tell me who is the God or MFT from this forum??" |
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just try my luck.... constrution got 2 big casino to support... I think tomorrow open higher and game over later...
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Luostock
Senior |
14-Apr-2009 17:20
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des khor, this is yr reason : The MTI has released its advance GDP estimates for the Singapore economy in Q1-2009. The Singapore economy fell 11.5% in Q1-2009 compared to Q1-2008 and declined by an even sharper 19.7% quarter on quarter which is even worse than the 16.4% quarter on quarter contraction in Q4-2008. Manufacturing contracted 29% and services fell 5.9% which were in part partially offset by a 25% rise in construction. The MTI has as a result of this sharp growth decline lowered Singapore's GDP growth forecasts for 2009 has been lowered from -2% to -5% to now -6% to -9%. |
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des_khor
Supreme |
14-Apr-2009 17:12
Yells: "Tell me who is the God or MFT from this forum??" |
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actually I totally out since last monday..... this morni hand itchy and follow win in lo... tomorrow will out all... hope for later DOW close higher... Jade I don't have..
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cheongwee
Elite |
14-Apr-2009 17:07
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des khor...just bought Jade..to speculate..did you have this??? BTW..i have yet to take profit..so i dont count it...any earth quake from Walls st...my profit will collapse.. I think Jade and centillion turn nw....earlier i was saying they are useless at the posting under StraitAsia.. Join earlier for big big profit.DYODD
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cheongwee
Elite |
14-Apr-2009 17:03
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when ikan bilis rally, then the rally is in it finally breath....be more alert. Jade come alive again...time to play.along
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des_khor
Supreme |
14-Apr-2009 17:02
Yells: "Tell me who is the God or MFT from this forum??" |
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this morning gorvement say one ma... cons +25% the rest all -%.....
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Luostock
Senior |
14-Apr-2009 16:59
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des khor, What is the reason that you bought ikan bilis const and not ikan bilis others ? | ||||
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des_khor
Supreme |
14-Apr-2009 16:52
Yells: "Tell me who is the God or MFT from this forum??" |
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I bought all ikan bilis constrution ikan bilis few hundred lots this morning....
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cheongwee
Elite |
14-Apr-2009 16:45
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your trading profit for today alone???..fantastic..congra.. my profit from stamdfordld, StraitAsia and Armstrong is close to 30k..but some was bought wk back... 6k within a day is outstanding...really marvellous..my salute to u...
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freeme
Elite |
14-Apr-2009 16:42
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bear kana bully until quite jialat for the past 5 wks. Still holding my HSI put. if break 15900 by this wk, can close my position n turn long liao..
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des_khor
Supreme |
14-Apr-2009 16:39
Yells: "Tell me who is the God or MFT from this forum??" |
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now almost 6k liao... hehe..
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cheongwee
Elite |
14-Apr-2009 16:36
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4k!!!..beautiful profit..good luck. We got someone who have been shorting a rising counter StraitAsia.., and is still shorting.. i believe he lost a bomb...
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des_khor
Supreme |
14-Apr-2009 16:33
Yells: "Tell me who is the God or MFT from this forum??" |
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share share only ma...
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