Straits Times Index   

STI

for this week, everyone will be looking at shanghai index for any slightest clues for any decision to be made... shanghai index = leading indicator for asian markets for this week... (my own opinions)

 

tks mirage for the infos, very useful to gauge market sentiment!

 

Nikkei up, Hang Seng Up, ShangHai down, STI up slightly.

 

Symbol	Name	Last Trade	Change	Related Info
^AORD	All Ordinaries	6,297.400 2:11AM ET	80.800 (1.30%)	Components, Chart, More
^SSEC	Shanghai Composite	3,925.559 2:55AM ET	153.04 (3.75%)	Chart, More
^HSI	Hang Seng	21,990.88 2:25AM ET	285.32 (1.31%)	Components, Chart, More
^BSESN	BSE 30	14,476.15 3:25AM ET	45.09 (0.31%)	Chart, More
^JKSE	Jakarta Composite	2,103.1919 3:25AM ET	22.146 (1.04%)	Components, Chart, More
^KLSE	KLSE Composite	1,357.43 Jun 27	9.56 (0.70%)	Components, Chart, More
^N225	Nikkei 225	17,932.27 3:00AM ET	82.99 (0.46%)	Chart, More
^NZ50	NZSE 50	4,189.662 1:34AM ET	13.607 (0.32%)	Components, Chart, More
^STI	Straits Times	3,519.22 3:25AM ET	13.72 (0.39%)	Components, Chart, More
^KS11	Seoul Composite	1,751.75 2:02AM ET	18.65 (1.08%)	Components, Chart, More
^TWII	Taiwan Weighted	8,892.83 1:46AM ET	48.61 (0.55%)

 

 

Nikkei, Hang Seng, ShangHai markets are all Up, STI is also Up, Cheers!!!!!! Cheers!!!!!! Cheers!!!!!!!!!!!!!!!!!!

Symbol	Name	Last Trade	Change	Related Info
^AORD	All Ordinaries	6,269.300 11:46PM ET	52.700 (0.85%)	Components, Chart, More
^SSEC	Shanghai Composite	4,088.583 11:16PM ET	9.984 (0.24%)	Chart, More
^HSI	Hang Seng	21,915.41 10:46PM ET	209.85 (0.97%)	Components, Chart, More
^BSESN	BSE 30	14,431.06 6:28AM ET	0.00 (0.00%)	Chart, More
^JKSE	Jakarta Composite	2,116.957 11:46PM ET	8.381 (0.39%)	Components, Chart, More
^KLSE	KLSE Composite	1,357.43 5:02AM ET	9.56 (0.70%)	Components, Chart, More
^N225	Nikkei 225	17,942.43 10:30PM ET	93.15 (0.52%)	Chart, More
^NZ50	NZSE 50	4,198.317 11:46PM ET	4.952 (0.12%)	Components, Chart, More
^STI	Straits Times	3,528.00 11:47PM ET	22.50 (0.64%)	Components, Chart, More
^KS11	Seoul Composite	1,742.44 11:47PM ET	9.34 (0.54%)	Components, Chart, More
^TWII	Taiwan Weighted	8,857.04 11:47PM ET	12.82 (0.14%)	Chart,

 

The trend is your friendly friend...

Spot it and recognise it early to avoid disappointment.... 

 

Today, all the property counters look especially shitty...

obviously  an ominous sign for the trend (ie. for the bulls) ...!   

 

Posted from the other STI tread.

Was confident that the STI will closed just above 3500 (was away for course after 2.45 pm) even though the STI at that time looked menacing downwards because spore economic is still good and intact while the properties fever has simmered (not so crazy in chasing the property prices up and up).

There is at least 6 mths to a year of bull bearing in mind that stocks move ahead of economic by 1/2 a year.The expected bottom of bear is in  yr 2010 (may start to slide from mid 2008).

 

Good report...

Do read it again... 

 

ST Index- Wait for a decline towards 3370-3380

The recent sell down in the ST index appears to signal a trend reversal and looks noticeably different from prior pullbacks. This is because the index has broken down in a wedge formation. Our original working assumption was that the index was tracing out in a rising wedge or diagonal triangle. As of yesterday, the index had broken below the wedge formation in a broad based sell down. Unlike previous corrections, the rebounds have been muted even as downside range expands. Additionally, the SGX Finance index which represents banks has also traced out in a rising wedge formation and broken down. This again is noticeably different from previous pullbacks since March 2007, where banks maintained their uptrend.

Several key index stocks have also broken below key moving averages. At this stage, we think it is better to sell into strength instead of bottom picking. We also note that the index has yet to gap down. Typically, a breakdown from a wedge formation results in a breakaway gap. We have yet to witness that. On top of that, the 14 day RSI indicator on the ST index has not moved to oversold levels. Prior pullbacks have led to RSI indicator heading to oversold levels before a rebound takes place. We think that this will repeat. Our price oscillator model has slipped slightly into neutral territory, but suggests a further 130 point downside potential before the index stabalises. Support as such is estimated at 3370-3380 for the ST index. That attached chart shows the break down from the wedge formation and the Elliott wave count on the index.

 

 

Quotes:

SINGAPORE (18th June 2007) - Share prices closed sharply higher on follow-through buying by investors who continued to pick up stocks following Wall Street's extended gains Friday, as fears of a near-term US rate hike receded.

The Straits Times Index closed up 42.63 points or 1.19 pct at an all-time high of 3,623.79. It also briefly touched a fresh all-time intra-day high of 3,629.45 in early trade. There were 3.71 bln shares traded, valued at 2.34 mln sgd. Gainers beat losers 603 to 269, with 675 shares unchanged. "The STI is up on the US market rally," a local brokerage dealer said.

But given the market's record-breaking run-up since the beginning of the year, the dealer said the market is expected to see bouts of profit-taking going forward.

Most property stocks were higher as developers continued to snap up existing residential condominiums in central areas for potential redevelopment even though the government is releasing more residential sites in the suburbs. Keppel Land was up 0.20 sgd at 9.30, City Developments was up 0.40 at 17.70, and Ho Bee was up 0.08 at 2.55, off a year-high of 2.58. SC Global Developments climbed 0.35 sgd to 6.35, also off a year-high of 6.45, after saying it has acquired a freehold residential property near Singapore's main shopping belt, Orchard Road, for 262 mln sgd. But DBS Vickers Securities cautioned investors that inflationary pressures could re-emerge, especially if oil prices continue to rise.

"While positive domestic factors such as the buoyant property market and the strong recovery of the construction sector should continue to drive thematic plays, keep an eye on the price of oil, which could rise further in the weeks ahead and re-ignite inflation worries," DBS said in a note to clients.

Blue chip and oil-related play Keppel Corp gained 0.40 sgd at 12.60 on hopes that its unit Keppel Offshore & Marine Ltd, will soon secure a 1.2 bln usd rig building order from Brazil's Petroleo Brasileiro SA (Petrobras).

Shares of most Singapore offshore and marine-related companies also posted gains, boosted by bright prospects for the sector, with Citigroup saying demand for rigs will remain strong.

SembCorp Marine was up 0.05 sgd at 5.05, KS Energy rose 0.28 to 3.88, and COSCO Corp was up 0.06 at 3.44.

Singapore Exchange (SGX) soared to a record high in early trade on news the Tokyo Stock Exchange (TSE) has acquired a 4.99 pct stake in the local bourse.

SGX rose 0.05 sgd to 10.0, off a high of 10.50.

 

Quotes:

Share prices were higher in early trade, with the Straits Times Index crossing the 3,600 level for the first time as Wall Street's extended gains overnight spurred investors here to snap up stocks.

Tame core wholesale inflation data in the US was taken as a sign that the Federal Reserve may not be hiking interest rates anytime soon.

At 10.04 am, the Straits Times Index was up 15.65 points or 0.44 pct at 3,589.08, off an all-time high of 3,603.44 points. There were 776.53 mln shares traded valued at 566.68 mln sgd. Gainers outnumbered losers 378 to 176, with 980 shares unchanged. "Effectively, the positive momentum that is generated in global equities markets is still very much holding forth for the Singapore market," DMG & Partners Securities Pte Ltd's senior dealing director Gabriel Yap said.

The fundamentals of the local market are also strong, with valuations reasonable given the strength of corporate earnings, he said. Among the early blue-chip gainers, Neptune Orient Lines (NOL) extended its rise, advancing 0.24 sgd to 4.72 after JP Morgan yesterday upgraded its rating on the stock to "overweight" from "neutral.

JP Morgan has a target price of 5.50 sgd on NOL, saying the stock is undervalued given its significant cost advantage and strong trans-Pacific market share.

 

STI will end on a rise this week...Dow is climbing up again...a boost once again

 

Dow up 90+ points now. If this continues, STI should see another good day tommorow.

 

Quotes: More measures needed to cool Chinese economy: Premier Wen

Chinese Premier Wen Jiabao says more measures are being planned to cool China's economy. The comment was made amid a flurry of new data showing breakneck growth. In meetign with the State Council Mr Wen said monetary policies should be "moderately tightened" to ensure stable economic growth. He highlighted China's trade surplus, industrial production and inflation as three key areas of concern. Official data released on Monday showed China's trade surplus surged to 22.45 billion US dollars in May, up 73 percent from a year earlier.   Meanwhile, China's industrial output expanded by 18.1 percent in May from a year earlier. In the first five months of 2007, industrial production also rose 18.1 percent compared with the same period last year.

 

Quotes:

Emerging markets not at risk of a bubble: Morgan Stanley

Asian and other emerging markets are not facing a risk of a bubble burst as yet, despite recording strong gains recently. That's according to Morgan Stanley CEO and Managing Director, Narayan Ramachandran, speaking to Bloomberg News in an interview. Some market observers have warned that financial markets in Asia, which have raced to record highs, are poised for a correction. Mr Narayanan disagreed, saying it would be premature to call it a bubble as long as the fundamentals underpin the market gains. Nonetheless, Mr Narayanan said he's less optimistic on Asian markets like Korea, Taiwan and ASEAN. He added that Morgan Stanley is placing money on emerging markets like India, China, Mexico and Russia.