Humm....Not B4 testing the next lower range.....STI 3,200
| |
STI almost smell 3,900, touching a high of 3,890.91 pt B4 closed off
|
| Index Value: |
3,875.77 |
| Trade Time: |
5:05PM SGT |
| Change: |
 61.32 (1.61%) |
| Prev Close: |
3,814.45 |
| Open: |
3,821.60 |
| Day's Range: |
3,821.22 - 3,897.10 |
| 52wk Range: |
2,618.34 - 3,906.16 |
|
|
|
|
unlikely that things will be sooooo bad, but hard to say also ... only took 2 weeks to drop 400points ... if things continue to be just as bleak for now till Christmas, then we could really be seeing a major drop in global economy ... i'm sure Singapore will be affected too. even if not directly via US market, will also get hit indirectly through slowdown in the rest of Asian markets
HONG KONG
(MarketWatch) -- Asian indexes mostly dropped Wednesday, with Japanese
stocks declining as a strong yen hurt exporters such as Honda Motor
Co., while Hong Kong stocks fell sharply, giving up gains from the
previous day, after rumors that the U.S. Federal Reserve was
considering an early rate cut proved to be untrue.
Financials in the region continued to be weak on persistent worries
over health of global financial markets, but energy stocks such as
Inpex Holdings in Tokyo, Woodside Petroleum in Sydney and Cnooc in Hong
Kong advanced as crude oil futures topped $99 a barrel, before slipping
back.
Hong Kong's Hang Seng Index dropped 3.1% to 26,912.50
and the 43-issue Hang Seng China Enterprises Index lost 3.2% at
16,321.88. The Hang Seng rebounded from sharp early losses to end
higher on Tuesday, on rumors that the Federal Reserve had convened an
emergency meeting to consider an interest rate cut.
"The weakness is mainly
because of the sharp reversal yesterday, triggered by expectation of an
earlier than expected rate cut," said Ben Kwong, chief operating
officer at KGI Asia in Hong Kong.
"The market sentiment
is cautious. Hong Kong is still in the consolidation mode and in the
absence of fresh incentives, I think the index will move between a
range for the time being," added Kwong.
In Tokyo, the Nikkei
225 average ended the morning session 1.7% lower at 14,946.68, while
the broader Topix index lost 1.3% at 1,450.16.
Elsewhere, Australia's
S&P/ASX 200 dropped 0.7% at 6,383.90, New Zealand's NZX 50 index
was little changed at 4,066.32 and South Korea's Kospi lost 1.5% at
1,843.35.
Singapore's Straits
Times index shed 1.2% to 3,398.89, China's Shanghai Composite declined
0.3% to 5,280.05, giving up early gains, and Taiwan's Weighted index
dropped 0.8% to 8,608.80.
Post Reply
1-8 of 8