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Death of Singapore market

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luckyman
    21-Aug-2008 11:24  
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China shares were lower in early trade, with investors taking profits after the key index rose 7.6 pct yesterday, in the absence of confirmation from the government of yesterday's stimulus package rumors, dealers said.

Steelmakers and power producers led the decline, while brokers extended their gains.

At 9:48 am, the benchmark Shanghai Composite Index was down 35.70 points or 1.41 pct at 2,487.58 .

Huadian Power International (SHA 600027; HK 1071) was down 4.85 pct at 4.32 yuan and Huaneng Power International Inc (SHA 600011; HK 0902) fell 5.87 pct to 7.06 yuan.

Baoshan Iron & Steel (Baosteel) (SHA 600019) shed 2.19 pct to 7.16 yuan after rising 8.12 pct yesterday.

Banks also retreated with China CITIC Bank (SHA 601998; HK 0998) falling 1.29 pct to 5.37 yuan. The bank said first-half net profit rose 162.6 pct from a year earlier to 8.42 bln yuan under Chinese accounting standards.
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AK_Francis
    20-Aug-2008 15:27  
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ha ha, its peers in Asian region will sunk together with him loh, how deep into the water?

Now, seems like US and EU financial sectors are in deep shit sooner or later. But AK perceives that S shares in STI may suffer great hit, after Olympics, esp the ppty sectors. But on the other hand, factories surrounding the Olympics area will resume operation after the closure of the Olympics may give substantial support on other manufacturing or services stocks.

 
 
 
tanglinboy
    20-Aug-2008 15:05  
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The market these days is so boring that I think SGX can close shop liao. Play 4D and Toto more fun.
 
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