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STI to cross 3000 boosted by long-term investors
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ticklish8
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20-Feb-2009 18:37
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AFP market report.... SINGAPORE, Feb 20, 2009 (AFP) - Singapore shares closed 2.11 percent lower Friday, at their lowest point in more than five years, on lingering concerns over the recession-hit economy, dealers said. The blue-chip Straits Times Index (STI) ended below 1,600 points for the first time since September 2003. The STI dropped 34.41 points to 1,594.94 on volume of 692 million shares worth 700 million Singapore dollars (455 million US). Losers led gainers 288 to 130, with 822 issues unchanged. “The market is dead. The volume is very thin... We don’t know where the floor is now,” said one trader. Banking shares closed down. United Overseas Bank dropped 32 cents to 10.20, DBS fell 19 cents to 7.96 and Oversea-Chinese Banking Corp closed 15 cents lower at 4.68. Property firms were among the key losers, City Developments fell 22 cents to 4.95, CapitaLand shed nine cents to 2.04 and Keppel Land eased five cents to 1.31. Singapore Telecommunications closed down one cent at 2.41 and Singapore Airlines slipped 12 cents to 10.02. Shipping firm COSCO Corp eased two cents to 78.5 cents, commodity firm Noble Group dropped three cents to 1.05 and motor vehicle firm Jardine Cycle and Carriage closed 34 cents down at 9.44. - Dow Jones Newswires contributed to this story - str/it/mtp |
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ticklish8
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20-Feb-2009 18:03
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Bloomberg market report.... Feb. 20 (Bloomberg) – Singapore’s Straits Times Index fell 34.41 points, or 2.1 percent, to 1,594.94 at the close, its lowest level since Sept 23, 2003. All but three of the gauge’s 30 components slumped. The following companies were among the most active in the stock market today. Stock symbols are in parentheses after company names. Singapore banks: Oversea-Chinese Banking Corp. (OCBC SP), the city’s smallest, fell 3.1 percent to S$4.68, leading the two other banks lower, on speculation bad loans will rise as the economic recession deepens. “We see future earnings growth constrained,” Deutsche Bank AG analyst Michael Chang wrote in a note today. “The key downside risk is prolonged and deep global recession affecting asset quality.” DBS Group Holdings Ltd. (DBS SP), Southeast Asia’s biggest bank, dropped 2.3 percent to S$7.96, while United Overseas Bank Ltd. (UOB SP), the city’s second largest lender, dipped 3 percent to S$10.20. Fraser & Neave Ltd. (FNN SP), whose shares slumped 6.7 yesterday after its Malaysian unit lost its bottling contract with Coca-Cola Co., fell another 4.8 percent to S$2.38. Kim Eng Holdings Ltd. downgraded its recommendation on the stock to “hold” from “buy” and reduced the price target to S$2.15 from S$3.36. Fraser may cut dividends as earnings weaken, the brokerage said. Genting International Plc (GIL SP), a unit of Asia’s largest casino operator, slipped 1.2 percent to 42 cents. The company said the cost of building a casino and theme park in Singapore has increased to S$6.6 billion from S$6 billion and will have a “significant” impact on 2009 earnings. It posted a loss of S$124.8 million last year. Singapore Airlines Ltd. (SIA SP), the world’s biggest airline by mark value, slipped 1.2 percent to S$10.02 on speculation the company may postpone deliveries of new aircraft for the first time in five years as the global recession hurts travel demand. “We have not yet deferred any aircraft deliveries, but are examining options to do so,” said Stephen Forshaw, a Singapore Air spokesman. Venture Corp. (VMS SP), Singapore’s biggest publicly traded electronics maker, rose 7.3 percent to S$4.42, its highest since Jan. 6. Credit Suisse Group AG raised its target price for the stock to S$5.80 apiece from S$5.40. The 50 cents dividend per share the company is paying shareholders will give the share price a “near-term boost,” the brokerage said. 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: Rocky Swift, Richard Frost 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 at +852-2977-6646 or dboey@bloomberg.net. -0- Feb/20/2009 09:31 GMT 02-20-09 0431EST nnn |
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freeme
Elite |
20-Feb-2009 17:43
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maybe june better .. more discount? lol
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mario1
Member |
20-Feb-2009 17:41
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btw, now STI reminds me of the great singapore sale.. | ||
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mario1
Member |
20-Feb-2009 17:39
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i like SIA looking at sembcorp ind, F&N.. what others give gd dividend? aiyah, but now it's like bottomless though, but mentality is for long term, it's definitely better than putting ur money in FD and earn 1% interest rite? surely 1-2 yrs later, u can earn more than tat fr blue chip.. And some more it's so cheap now, but u hv to be able to take it if it con't to fall... still not for the faint hearted.. |
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tanglinboy
Elite |
20-Feb-2009 16:43
Yells: "hello!" |
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STI is hopeless... 1600 level cannot make it liao | ||
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PiggyBank
Member |
20-Feb-2009 13:47
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It is collector's mentality, category : rock solid companies that used to be very expensive, now affordable. DBS is country's bank. OCBC is like a grandfather clock. Well at least both are still of interest to many investors, not outdated. |
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DnApeh
Master |
20-Feb-2009 13:32
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Why 2 banks? | ||
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PiggyBank
Member |
20-Feb-2009 13:31
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I know we can call ourselves the blue chips collectors club. Anyone care to share the chips they are collecting. Starting with mine - Kep Corp & SPH, going for DBS & OCBC |
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iPunter
Supreme |
20-Feb-2009 13:27
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Why buy so many counters? Because it is likely you may end up buying more as prices go lower... One or two counters is easier to handle if one is to buy on the way down... 
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des_khor
Supreme |
20-Feb-2009 12:52
Yells: "Tell me who is the God or MFT from this forum??" |
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I bought 4 counters... | ||
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PiggyBank
Member |
20-Feb-2009 12:39
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Hi Des, Did you concentrate 50ks to one counter or a few. I only have 30ks to invest, don't know what to buy. SPH (already have 2 lots at 2.7, OCBC or DBS? I have not done much homework on others. Regards. |
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des_khor
Supreme |
20-Feb-2009 12:30
Yells: "Tell me who is the God or MFT from this forum??" |
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since monday i just invested another 50ks in blue chip... already so low if drop further so what... history proven that the market will recover ahead of real economy ! | ||
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Blastoff
Elite |
20-Feb-2009 12:29
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You mean the following week???? Let's hope so.
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cheongwee
Elite |
20-Feb-2009 12:27
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i understand..alot of sad soul out there,,,but no worry..i see a rally coming March...be optimistic | ||
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des_khor
Supreme |
20-Feb-2009 12:14
Yells: "Tell me who is the God or MFT from this forum??" |
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STI low vol.... FORUM also low post.... hai hai .... | ||
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derricktan
Member |
20-Feb-2009 11:48
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Trading supposes to be KISS - Keep It Simple and Stupid Make Money , dont be too Happy, Lost Money dont be too sad ! But enjoy the world of traing and investment downtrend and uptrend ..you just ride it to make profits. Maybe time is better spend for analysis and make your your probability of winning higher. Cheers ! |
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ticklish8
Senior |
20-Feb-2009 11:37
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Bloomberg morning report Feb. 20 (Bloomberg) – Singapore’s Straits Times Index fell 22.69 points, or 1.4 percent, to 1,606.66 at 10 a.m. local time, the lowest since Oct. 24. All but three of the gauge’s 30 components slumped. The following companies were among the most active in the stock market today. Stock symbols are in parentheses after company names. ComfortDelgro Corp. (CD SP): The company, the biggest operator of buses and taxis in the city, slipped 1.5 percent to S$1.29. The government said bus and train fares will be cut by 4.6 percent from April, the Straits Times newspaper reported, citing a government statement. The cut, aimed to help commuters as the economic recession deepens, will reduce revenues of public transport operators by S$80 million ($52 million) from April this year to June next year, the newspaper said. Fraser & Neave Ltd. (FNN SP), whose shares slumped yesterday after its Malaysian unit lost its bottling contract with Coca- Cola Co., rose 0.4 percent to S$2.51. The company said it sees no adverse financial impact on the group when the Coca-Cola agreement lapses in January. Genting International Plc (GIL SP), a unit of Asia’s largest casino operator, slipped 1.2 percent to 42 cents. The company said the cost of building a casino and theme park in Singapore has increased to S$6.6 billion from S$6 billion and will have a “significant” impact on 2009 earnings. It posted a loss of S$124.8 million last year. Venture Corp. (VMS SP), Singapore’s biggest publicly traded electronics maker, rose 5.8 percent to S$4.36, its highest since Jan. 6. Credit Suisse Group AG raised its target price for the stock to S$5.80 apiece from S$5.40. The 50 cents dividend per share the company is paying shareholders will give the share price a “near-term boost,” the brokerage said. 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 –Editor: Rocky Swift 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 at +852-2977-6646 or dboey@bloomberg.net. -0- Feb/20/2009 02:17 GMT 02-19-09 2117EST |
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CWQuah
Master |
20-Feb-2009 10:48
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Let nature run its own course in the indices. No point fretting abt the bear mkt. Just be alert to potential trend changes. For now still very clear, down, although momentum is pretty low. |
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ozone2002
Supreme |
20-Feb-2009 10:25
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read ur charts well..digest them..dissect them.. and u'll make $$.. and leave ur emotions out when u are trading.. don't be overwhelmed when things go awry..cos markets are irrational..but u have to be rational.. markets make us look like fools when we have brains to think things thru..rather than panic
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