Straits Times Index   

Crashing!!

I'm sorry to hear that.... :( I also same. I think a lot of people lose money these few days. Many of my friends want to pull out but if they pull out now, they suffer big loss.

 

What i make from IPO gain, i give back every cents liao, still lost abit after cutting my lost. no choice leh...@_@zzz

 

look like herd instinct is all we can do, sell, sell, sell to cut lost.

 

Many retail investors have the herd instinct. Follow what others are doing.

 

US have just Fear to live with, not U , not me or US, East Asia is economic i moving, surging.

 

Peter Ong is like many retail investors who jump in when they see the prices surging and then got caught. Don't do that! Buy only on correction.

 

Woww.. +34.99pts to STI 2,548.69pts, correction is on d way, on going, today gain, maybe tmr lost, look like today gain is fairly equal btw big big blue chip stocks & China related stocks "chin Tien Ta Ta Ti Cheongg.. liao" across d broad.

 

Alamak!!, warning sign is up there, got profit, take some profit & leave some for other mah.., so do hv to lose so much mah... STI is down but not so bad as yesterday, hope "Ming ten hui kan hao"

 

Sad to say, the carnage is not over.

 

Bloody hell... I'm one of those who lost money yesterday big time. Straits Times Article Today - AFTER rocketing to all-time highs recently, the Singapore stock market suffered its biggest one-day plunge in almost five years yesterday, wiping a staggering $16 billion off the total value of its shares. All other Asian markets except mainland China also tumbled after jittery investors were spooked by fears that rising commodity prices may hurt economic growth and by concerns over a recent sharp fall in the US dollar. They fear its slide will dent earnings among firms that rely heavily on the US market. Investors were also worried by fresh signs that the US central bank will keep raising the benchmark rate for bank lending rates, which has a dampening effect on export demand from Asia and elsewhere. At the same time, the currency of economic powerhouse China, the yuan, strengthened to its highest level against the dollar in 12 years yesterday. Amid all this uncertainty over currencies and interest rates, the Straits Times Index (STI) plunged 85.75 points, or almost 3.3 per cent, to 2,534.83. That is its biggest single one-day drop since Sept 12, 2001, when global stock markets suffered a meltdown, the day after the terrorist attacks on the US. Still, market watchers believe a rebound may be around the corner, and that investors were merely taking money off the table after a strong run-up. Despite yesterday's sell-down, the STI is still up 8 per cent this year. DBS Asset Management equity strategist Peter Chiang said: 'After the recent strong performance, we expect some consolidation. 'But stock valuations in Singapore are still attractive. 'Domestic demand as evidenced by the economic data is strong. The Singapore market is also less affected by oil prices than other markets in the region.' UOB Kay Hian research head Yang Sy Jian said: 'We had a very good pre-election rally. The sell-off will only be taking the STI back to its long-term trend-line.' Elsewhere in Asia yesterday, among the worst performers were Hong Kong's Hang Seng Index, which fell 2.4 per cent, and Indonesia's Jakarta Composite Index, which crashed 6.3 per cent. The worst-hit stocks region-wide were banks and property companies. Recently, they had been among investors' favourites, based on expectations that a series of interest rate hikes by the US Federal Reserve would soon end. But experts are not so sure now, and fear more rate rises after US Fed chairman Ben Bernanke made no reference to a 'pause' in raising rates in a statement last week. Subtle shifts in phrasing are seen as significant by market watchers. Big losers here included bank DBS Group Holdings, which fell $1 to $17.60, conglomerate Keppel Corp, which lost 90 cents to $14.50, and developer City Developments, down 30 cents at $9.90. Dealers said that the sell-off here yesterday was exacerbated by a number of factors, including a slump of 1.2 per cent on Wall Street on Thursday, and another 1 per cent on Friday. 'Wall Street was already mauled by a sell-off on Thursday, but investors here had no chance to get out until now because of the market closure for the Vesak holiday last Friday,' said one dealer. The sell-off was further accentuated by traders selling off purchases of stocks bought at much higher prices on Monday last week, when the STI hit a record high of 2,665.99 during trading. These traders were swept up in last week's euphoria but joined the stampede for the exit yesterday. The mood among traders was quite grim yesterday. 'I have now lost more money in one day than what I had made since the start of the year,' said retail investor Peter Ong.

 

I was right! the Straits Times today front page mention that it was the greatest drop since 5 years!

 

Oil down to US$70/- DOW up 47.78 pts Yuan is allowed to gain against the US$, yuan is traded for less than 8.00 yuan per US$. Someone dream someday, soon to be doomday, dream STI down to STI2000, come on this yr is year 2006 and not yr2000 lah.. okkkk

 

Can still remember Sept 11 or 911 ??? how long did last ?? b4 mkt coming at it again considering today mkt down 3%, A good sign that it did a flavour to SGX mkt as every mkt is hitting records high. As a reminder always buy within ur mean if one must buy.

 

someone called this crashing ??? something wrong with oneself, rite, it's a healthly correction here, if not for China stock playimg a role here, then i think can get bad, not worst. A role which is still in tact when correction is over liao.

 

Then you must a pretty new to the market. Have seen such drop many times....that work out to be 3%. You have to look at it as 2 days continuous drop since SGP market was closed last Friday, Not too bad actually.

 

I don't remember the STI crashing that badly. the last time it happened was during SARS period. 85 points drop is very bad

 

You don't call this crushing... STI had been on the up trend since beginning of the year. It is time to take a break, considering the fact that SGP market was closed on last Friday where most of the markets corrected, the drop today look logical. When there is chance like this, take it or you will miss it. Time to buy cheaper if you have missed the boat earlier!

 

Probably high oil prices? Recent Volcano eruption? Or just that the market is way too pricy now!

 

Crashing like crazy today! Anyone know why?