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STI to cross 3000 boosted by long-term investors
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singaporegal
Supreme |
03-Feb-2009 09:59
Yells: "Female TA nut" |
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Volume is really very low today. After 1 hour of trading, it barely scratched 100 million lots | ||||
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trader88.sg
Veteran |
02-Feb-2009 18:29
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More actions after Chap Goh Meh, when companies announce more retrenchments? Rumour has it that UOB is retrenching.
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ticklish8
Senior |
02-Feb-2009 18:08
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Singapore Market report Feb. 2 (Bloomberg) – Singapore’s Straits Times Index slipped 41.18 points, or 2.4 percent, to close at 1,705.29, the lowest since Jan. 21. Three stocks declined for each one that advanced on the 30-member measure. Banks: Shares of the three local banks fell on concern earnings will slide as loan growth weakens and bad debts rise. “We see worsening asset quality to lead to increased provisioning which could lead to sharply lower bank earnings,” Leng Seng Choon, an analyst at DMG & Partners Securities Pte., wrote in a note today. DBS Group Holdings Ltd. (DBS SP), the biggest of the three banks, slid 3.6 percent to S$8.50. United Overseas Bank Ltd. (UOB SP), the second biggest, dropped 2.9 percent to S$11.54. Oversea-Chinese Banking Corp. (OCBC SP) fell 2.9 percent to S$5. REITs: Ascendas Real Estate Investment Trust (AREIT SP), the second-biggest REIT listed in Singapore, fell 5.5 percent to S$1.38, the lowest since Jan. 23, after Moody’s Investor Service reduced its credit rating to Baa1 from A3. Moody’s said the downgrade “reflects the trust’s ongoing refinancing risk, given that it hasn’t fully addressed its reliance on uncommitted revolving credit facilities to support its long-term assets.” CapitaMall Trust (CT SP), the city’s biggest REIT, fell 5.6 percent to S$1.51. Frasers Centrepoint Trust (FCT SP), the shopping mall operator partly owned by the city’s biggest beverage company, slipped 3.5 percent to 65 Singapore cents. CDL Hospitality Trusts (CDREIT SP), a hotel operator partly owned by Singapore’s second-biggest property developer, dipped 5.4 percent to 61.5 cents after saying hotel rates and occupancies will fall this year as economic growth falters. Singapore Telecommunications Ltd. (ST SP), Southeast Asia’s biggest telecommunications company, fell 3.8 percent to S$2.56 after being downgraded to “underweight” from “equal-weight” at Morgan Stanley. SingTel’s earnings will fall as the Singapore recession deepens and contributions from regional associates such as India’s Bharti Airtel Ltd. soften in the coming quarters. For Related News and Information: Most-read stories on Singapore’s stock market: MNI SPS GO Stories on Asia’s stock markets: TNI ASIA STK BN GO Top South, Southeast Asia news: TOP SAS GO –Editors: Rocky Swift, Darren Boey. To contact the reporter on this story: Jonathan Burgos in Singapore at +65-6212-1156 or jburgos4@bloomberg.net. To contact the editors responsible for this story: Darren Boey at +852-2977-6646 or dboey@bloomberg.net. -0- Feb/02/2009 09:44 GMT 02-02-09 0444EST |
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ticklish8
Senior |
02-Feb-2009 16:22
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HK Brief HONG KONG, Feb 2, 2009 (AFP) - Hong Kong share prices closed 3.1 percent lower on Monday, as China counters struggled on a disappointing performance by the Shanghai bourse after the Lunar New Year holiday, dealers said. The benchmark Hang Seng Index closed down 416.72 points at 12,861.49. Turnover was 35.69 billion Hong Kong dollars (4.58 billion US). Sentiment was also hit by a fall on Wall Street on Friday, dealers said. Although the benchmark Shanghai index closed up 1.06 percent on Monday, investors had hoped for a bigger bounce in mainland stocks following the week-long annual holiday. |
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Livermore
Master |
02-Feb-2009 16:17
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STI wave 5 on track
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Blastoff
Elite |
02-Feb-2009 16:13
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Not when DOW futures are very negative now.
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Livermore
Master |
02-Feb-2009 15:23
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Looks like STI cannot climb back up above 1776 | ||||
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Blastoff
Elite |
02-Feb-2009 12:10
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Ya, you are right, volume pretty low, guess people are still on CNY mood...
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idesa168
Elite |
02-Feb-2009 11:49
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CNY hangover with less than 400 Million changed hands... better spend time kooning than to look at the monitors! | ||||
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Blastoff
Elite |
02-Feb-2009 11:44
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Hang Seng also negative, added to the negative sentiments.... 
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singaporegal
Supreme |
02-Feb-2009 11:29
Yells: "Female TA nut" |
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I was hoping the market liven up a little in February. But unfortunately it is still very sleepy. | ||||
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ozone2002
Supreme |
02-Feb-2009 09:31
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cool i got a bad post for talking abt reality.. the truth hurts!
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ticklish8
Senior |
02-Feb-2009 09:20
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Morning market report..... Feb. 2 (Bloomberg) – Asian stocks dropped, led by commodity and technology companies, as shrinking factory output in Australia and declining corporate profits fueled concerns that the global recession is deepening. BHP Billiton Ltd., the world’s biggest mining company, fell 2.8 percent in Sydney after Australian manufacturing contracted for an eighth month and metal prices declined in London. Hitachi Ltd., the world’s third-largest maker of hard-disk drives, fell 6.7 percent after projecting a record loss. Mizuho Financial Group Inc., Japan’s second-largest listed bank, declined 5.3 percent after posting its second quarterly loss in a row. “We’ll likely continue to see a series of downward earnings revisions from companies and analysts,” Tomochika Kitaoka, a Tokyo-based strategist at Mizuho Securities Co., said in an interview with Bloomberg Television. “With more companies cutting dividends, domestic investors will likely shy away from the equity market.” The MSCI Asia-Pacific Index lost 1.8 percent to 81.59 as of 9:54 a.m. in Tokyo. Four stocks declined for each that advanced on the gauge, which has lost 8.4 percent this year amid signs the global recession is eroding company profit growth. Japan’s Nikkei 225 Stock Average dropped 2.4 percent to 7,806. Australia’s S&P/ASX 200 Index fell 1.4 percent. All markets open for trading declined. In New York, the Standard & Poor’s 500 Index slid 2.3 percent on Jan. 30, capping a fourth weekly drop. BHP lost 2.8 percent to A$29.61. Australia’s manufacturing index was 36.6 in January, the Australian Industry Group and PricewaterhouseCoopers said in a report today. A reading below 50 signals factory output is shrinking. Manufacturing accounts for a tenth of the nation’s gross domestic product. Hitachi, Panasonic Separately, a measure of six metals traded in London dropped for a second day on Jan. 30, losing 1.9 percent. Hitachi lost 6.7 percent to 294 yen. The company reversed its profit forecast on Jan. 30 to a record net loss of 700 billion yen ($7.81 billion) for the year ending March 31. Demand in the automobile, semiconductor and industrial-equipment industries was declining “rapidly,” the company said. Panasonic Corp., the world’s largest maker of consumer electronics, dropped 4.6 percent to 1,048 yen. The company may report a 350 billion yen net loss for this business year, the Yomiuri newspaper reported yesterday. The median of analyst estimates compiled by Bloomberg projected 6 billion yen in profit. Mizuho, the Japanese bank with the biggest subprime writedowns in Asia, slumped 5.3 percent to 215 yen. The company turned to a 145.1 billion yen loss in the three months ended Dec. 31 from a 66 billion yen profit a year earlier. Japanese companies from car manufacturers to electronics makers have cut their full-year earnings outlooks as the world’s largest economies plunged into recession. Domestic businesses reporting their third-quarter earnings have posted an 85 percent tumble in net income for the quarter, Tokyo-based Shinko Research Institute Co. said in a report dated Jan. 30. 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 –With reporting by Motoko Kakizaki and Yuichi Kato in Tokyo. Editors: Darren Boey, Garry Smith. To contact the reporter for this story: Masaki Kondo in Tokyo at +81-3-3201-8868 or mkondo3@bloomberg.net. To contact the editor responsible for this story: Darren Boey at +852-2977-6646 or dboey@bloomberg.net. |
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ozone2002
Supreme |
02-Feb-2009 08:54
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I was reading a commodities book by Jim Rogers over the weekend, and in his book he made an inference that commodities will rise when the stock markets tank.. i think it makes sense cos with more companies closing shop (supplies decrease tremendously) and demand also decreases but not to a large extent as supplies, and with money supply flooding the market.. there will be too much money chasing for too little goods..simple economics.. thus stock up on commodities/stocks/countries related to commodities e.g Aus/Nz/Brazil.. Oil.. Gold.. palm oil.. sugar.. wheat.. |
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ticklish8
Senior |
31-Jan-2009 06:06
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Four weeks into 2009, and nothing's changed
Age-old adages of 'buy in anticipation, sell on news' and 'selling into strength' still remain key to surviving the markets
By
R SIVANITHY IT SHOULD be apparent to most people by now that every so often, a window of stock market opportunity opens at allows traders - 'Dr Doom' fund manager Marc Faber said recently that there are no investors any more; everyone is a trader and their own central banker - to capitalise on some fresh piece of US bailout news to ride the upward momentum that usually emanates from Wall Street. It should also be apparent that such windows tend to slam shut quickly - leaving late buyers 'bear-trapped' - because most people also know that after printing almost US$1 trillion for liquidity injections and assorted bailouts, the US authorities have achieved zero in terms of results. Indeed, you have to wonder whether another US$1 trillion would yield another zero. This brings us to age-old adage 'buy in anticipation, sell on news', which was amply demonstrated by Wall Street, which rose before US President Barack Obama's rescue Bill was presented to the House of Representatives, then collapsed when it was actually passed by the House. Equally, it should be evident that 'selling into strength' remains the preferred route to surviving in this market, having proved successful for nigh on 15 months now, especially when large programme trades tend to target this part of the world before - not after - they target the US. It must also be evident that sometimes the Straits Times Index (STI) fails to properly capture the true state of the broad market. On Thursday and Friday this week, SingTel single-handedly moved the STI in a direction not consistent with the rest of the market. On Thursday, SingTel's 11 cent rise propped the index up by 11 points when the broad market was weak. Then yesterday, its 10 cent slide to $2.66 cut 10 points off the index when the broad market was firm. Finally, it must be apparent from the narrowness of daily activity and the low volume that the bulk of liquidity and action is generated by programme trades and house traders, and dealers trading among themselves. The average Joe has long departed the market, nursing massive losses. In short, nothing much seems to have changed four weeks into 2009, since all of the above factors were prevalent throughout 2008. Still, the efforts of those still in the market have to be appreciated. Over the course of the holiday-shortened week, they managed to lift the STI 61 points to 1,746.47, yesterday's 20.25 point loss notwithstanding. DBS was in the news on Thursday and Friday following an announcement that its chief executive of barely eight months, Richard Stanley, has been diagnosed with leukaemia. DBS's shares actually rose on Thursday when the news was released but dropped 28 cents yesterday to $8.82. Over the week, DBS rose 44 cents or 5.2 per cent. Deutsche Bank released a new Singapore Strategy report on Thursday, in which it said that it sees further downside risk to earnings. 'We foresee sharply lower guidance and continued earnings downgrades throughout the reporting season which ends in late February,' said Deutsche. Like many other houses, it expects a possible stock market bottom in the second quarter when the worst of the economic contraction occurs. |
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knightbridge
Veteran |
30-Jan-2009 22:51
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Actual the current market volatility is quite good for day trader, is creating alot of opportunity for trader to make big bucks. Same counter up and down So many counters trade 10%-15% price difference within a week. Good days buy up, Bad days short.. Should be a very profitable year.. Good time to be a Day trader.. |
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knightbridge
Veteran |
30-Jan-2009 22:17
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This is the gov policy. Performance more important.. Providing public services also must make money if dun make money will not improve. un-quote... But charter have not been making good money should have cut long ago. So many year still cannot make money..Any businessman would have cut long time ago. Electronic manufacturing provide alot of job for the servicing companies. Like logistics, warehousing, financing (Big Sales Revenue mean bank got alot of transaction). Dunno if singapore can survive without them as the gov is pushing for tourism industries/ Without electronic manufacturing, looking at service sector like hotel where got the big sales revenue. 1 tourist spend $1000 in singapore take 1m tourist to generate 1 billion sales. 1 penny stock company like beyonics already generate 1billion in sales revenue.
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ticklish8
Senior |
30-Jan-2009 21:23
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Japanese company retrenching staff like there is no tom. But sometimes I wonder, Govt say PRO WORKER, PRO JOBS, but the company doing the maj of the culling is Temasek link, ie DBS, NOL n now Chartered. Doesnt walk the talk. |
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singaporegal
Supreme |
30-Jan-2009 20:53
Yells: "Female TA nut" |
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My friends and colleagues all know people who - 1. have been retrenched 2. Is fearful of being retrenched 3. got a pay cut 4. forced to take leave
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cheongwee
Elite |
30-Jan-2009 20:14
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for the optimistic amongst the pessimistic... http://www.kitco.com/ind/Saxena/jan292009.html |
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