Straits Times Index   

STI and Shanghai Composite.

Quotes:

October 16, 2007, 5.39 pm (Singapore time)

Chinese shares hit fresh high

Chinese share prices closed 1.03 per cent up at a fresh high on Tuesday amid hopes for strong quarterly earnings in the banking sector after the bourse broke through a critical barrier, dealers said.

 

They said the gains came after the benchmark Shanghai index's topped the key 6,000 points level for the first time on Monday, with banks supported by a China Merchants Bank announcement that its profits would surge.

The Shenzhen-based bank forecast a net profit gain of more than 100 per cent in the first nine months to September, citing a sharp increase in income from lending and fee-based services.

The benchmark Shanghai Composite Index, which covers both A and B shares, closed the day up 61.97 points at record of 6,092.06, after hitting a new intraday level of 6,124.04.

Turnover, however, fell to 163.55 billion yuan (US$21.24 billion) from 193.47 billion yuan in the previous session.

Also lending support were remarks by Shang Fulin, chairman of the securities regulator, who said during the Communist Party Congress that China's stock market was now a barometer of the economy.

The Shanghai A-share Index rose 65.28 points or 1.03 per cent to 6,395.76 on turnover of 161.84 billion yuan and the Shenzhen A-share Index was up 16.68 points or 1.04 per cent at 1,618.82 on turnover of 63.10 billion yuan.

 

QUOTES:

 

Asia/Pacific			Last Trade	Change	Related Info
^AORD	All Ordinaries	Australia	6,496.100 9:39AM SGT	5.200 (0.08%)	Components, More
^SSEC	Shanghai Composite	China	5,425.88 Sep 25	59.133 (1.08%)	Components, More
^HSI	Hang Seng	Hong Kong	26,382.08 Sep 25	169.86 (0.64%)	Components, More
^BSESN	BSE 30	India	16,899.54 Sep 25	0.00 (0.00%)	More
^JKSE	Jakarta Composite	Indonesia	2,330.363 Sep 25	0 (0.00%)	Components, More
^KLSE	KLSE Composite	Malaysia	1,316.43 Sep 25	0.81 (0.06%)	Components, More
^N225	Nikkei 225	Japan	16,432.50 9:22AM SGT	30.77 (0.19%)	More
^NZ50	NZX 50	New Zealand	4,265.811 9:21AM SGT	24.138 (0.57%)	Components, More
^STI	Straits Times	Singapore	3,627.24 9:42AM SGT	2.42 (0.07%)	Components, More
^KS11	Seoul Composite	South Korea	1,919.26 Sep 21	10.29 (0.54%)	Components, More
^TWII	Taiwan Weighted	Taiwan	9,198.83 9:42AM SGT	93.55 (1.03%)	More

 

ShangHai is DOWN 200.293 pts (5.25%) to 3615.872.

 

Asia/Pacific			Last Trade	Change	Related Info
^AORD	All Ordinaries	Australia	6,392.200 2:11PM SGT	59.600 (0.94%)	Components, More
^SSEC	Shanghai Composite	China	3,615.872 3:00PM SGT	200.293 (5.25%)	Components, More
^HSI	Hang Seng	Hong Kong	22,198.81 3:48PM SGT	19.74 (0.09%)	Components, More
^BSESN	BSE 30	India	14,817.05 4:48PM SGT	63.19 (0.42%)	More
^JKSE	Jakarta Composite	Indonesia	2,209.488 4:48PM SGT	13.383 (0.61%)	Components, More
^KLSE	KLSE Composite	Malaysia	1,373.14 Jul 3	8.77 (0.64%)	Components, More
^N225	Nikkei 225	Japan	18,221.48 3:00PM SGT	52.76 (0.29%)	More
^NZ50	NZX 50	New Zealand	4,236.705 1:36PM SGT	3.555 (0.08%)	Components, More
^STI	Straits Times	Singapore	3,556.26 4:48PM SGT	1.41 (0.04%)	Components, More
^KS11	Seoul Composite	South Korea	1,847.79 2:02PM SGT	9.38 (0.51%)	Components, More
^TWII	Taiwan Weighted	Taiwan	9,148.78 1:46PM SGT	79.80 (0.88%)	More

 

when will it recover man....

 

Thanks, guys, actually there are some counters that I have some profit, except that if I sell now, I make much less.

eg AllGreen it reach a high of 2.15 on Monday I didn't sell, Today it is down 0.13 to 0.198 after dropping for a few days, but I still have some profit if I sell now. I will still hold on till it bounce back to above 2.00. Target Price 2.10 by 31.7.2007.

 

Banks are looking overpriced now, switching my focus to property and construction.

 

Agree. Depend on the fundamental of the counters that you have vested. It is still not that bad to press the panic button. Good time to buy some cheap counters to earn some coffee $$$

 

More like a cause of concern for those buying ETFs...

 

Mirage, it really depends on what your entry price is, which counter, your investment strategy, portfolio, etc.  Without this, it is impossible to say.

 

Market looks BAD, at mid-day STI is down 30.94 pts to 3,494.16. This looks like a major correction. Hi investors, is it too late to sell and cut loss?? Any views?? Nikkei, Hang Seng and New Zealand markets are all DOWN.

QUOTES:

 

Symbol	Name	Last Trade	Change	Related Info
^AORD	All Ordinaries	6,235.900 1:32AM ET	101.400 (1.60%)	Components, Chart, More
^SSEC	Shanghai Composite	4,007.135 1:02AM ET	33.764 (0.85%)	Chart, More
^HSI	Hang Seng	21,636.16 12:32AM ET	167.41 (0.77%)	Components, Chart, More
^BSESN	BSE 30	14,450.24 1:32AM ET	50.84 (0.35%)	Chart, More
^JKSE	Jakarta Composite	2,117.5439 1:32AM ET	35.998 (1.67%)	Components, Chart, More
^KLSE	KLSE Composite	1,366.99 Jun 26	10.14 (0.74%)	Components, Chart, More
^N225	Nikkei 225	17,859.83 1:12AM ET	206.28 (1.14%)	Chart, More
^NZ50	NZSE 50	4,203.269 12:57AM ET	48.760 (1.15%)	Components, Chart, More
^STI	Straits Times	3,494.16 12:29AM ET	30.94 (0.88%)	Components, Chart, More
^KS11	Seoul Composite	1,735.27 1:32AM ET	14.28 (0.82%)	Components, Chart, More
^TWII	Taiwan Weighted	8,841.21 1:30AM ET	24.54 (0.28%)

 

Hi Mirage,

Thanks for the information..What is your take on this? Does it indicate a healthy correction or is the reason because of the DOW was down more than 185 pts on Friday.

Do you think it is a good time to bargain hunt now or should we wait for further indication of the DOW or the China Market?

Thanks!

 

QUOTES:

25 June 2007 Symbol	Name	Last Trade	Change	Related Info
^AORD	All Ordinaries	6,358.600 2:11AM ET	50.700 (0.79%)	Components, Chart, More
^SSEC	Shanghai Composite	3,941.081 3:00AM ET	150.364 (3.68%)	Chart, More
^HSI	Hang Seng	21,822.35 4:17AM ET	177.56 (0.81%)	Components, Chart, More
^BSESN	BSE 30	14,455.08 5:17AM ET	12.28 (0.08%)	Chart, More
^JKSE	Jakarta Composite	2,152.2029 5:17AM ET	0.1182 (0.01%)	Components, Chart, More
^KLSE	KLSE Composite	1,391.57 Jun 22	3.61 (0.26%)	Components, Chart, More
^N225	Nikkei 225	18,087.48 3:00AM ET	101.15 (0.56%)	Chart, More
^NZ50	NZSE 50	4,270.911 1:35AM ET	14.230 (0.33%)	Components, Chart, More
^STI	Straits Times	3,580.33 5:06AM ET	35.05 (0.97%)	Components, Chart, More
^KS11	Seoul Composite	1,757.73 5:03AM ET	13.25 (0.75%)	Components, Chart, More
^TWII	Taiwan Weighted	8,939.19 1:46AM ET	126.28 (1.43%)

 

eastonbay, bo pian la.. who tell singapore no natural resources, and "import" foreign workers then unemployment rate will be high.. somemore now china cars geely ar, cherry ar oreadi making forays into singapore roads... so we r actualli transferring "wealth" to china people mah... they will get "fatter" n "fatter", dat y one sneeze can "generate" a lots of fats n saliva... hahahahaha.

 

Before Shanghai becomes 'influential' that what it is now, I once heard a remiser friend commented that SGX has no backbone, in that, when DOW sneezes, ST Index catch a cold. Now worse, besides DOW, we also have to see what's happening in Shanghai. *sian*

 

No need to worry about too many chinese stocks listing on SGX, in fact SGX is worrying that we won't get more Chinese company listing here (what an irony). There is talk in the market that the Chinese govt, in a bid to encourage local listing is going to make it difficult for China based company list overseas (i.e. outside China). Aspiring IPO companies must get approval from authority to list outside China bourses.

 

That's the reason SGX is now pursuing companies in Vietnam, etc to come and list on SGX.

 

 

also depends on their operations, if they are listed in sgx with core operations in China, then obviously they will be affected by china economy and Shanghai stock market. Worse still if they are in ST Index, then confirm kena. Come to think about it, wats the criteria to be in the ST Index? Market capitalisation, Blue chips, high volume? Not sure if the china counters can be part of ST Index? Mmmmmmm.......

 

I think it depends lah.... if most of these companies list on SGX and on Shanghai together, then the markets will move in tandem. But if they only list on SGX, then maybe not.

 

Problem is we got too many china related stocks listed here. Thats why shanghai kena, we also kena. Soon we will have so many china counters that sgx might as well be chinese subsidiary.. keke

 

Oh....ok thanks........