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Today market

tmr will be a shopping day I tink....

 

investment time... ermmm

 

STI suffers 3.3% fall as traders play catch-up with Wall Street SINGAPORE : Singapore stocks saw their largest drop in three years on Monday, triggered by two days of sharp falls on Wall Street. The benchmark Straits Times Index shed 85.75 points, or 3.3 percent, to end at 2,534,83, just a week or so after hitting all-time record highs. Even so, some experts have welcomed Monday's correction. From the opening bell, Singapore stocks fell like nine pins, with more than 1.8 billion shares changing hands. The Vesak Day public holiday on Friday only made matters worse, as local stocks played catch-up with their US counterparts. Said Song Seng Wun, economist at CIMB-GK Research, "This is a healthy correction. If you look at not just Singapore, regionally and globally many markets hit multi-year high or new record highs. What we are really looking at is just an excuse to see a healthy correction." Among those hardest hit were DBS and Keppel Corp, which saw their prices shaved by over 5 percent. The experts say investors should expect choppy trading in the days ahead as investors look for signals out of Washington over more potential interest rate hikes by the US Federal Reserve. In particular, they will be watching US inflation data coming out later this week. So if you missed the earlier ride, is this an opportune time to get into the market? Said Mr Song, "I think at this juncture it is really stock investing for the brave of heart. We are seeing a convergence of factors which can pull the market down further, especially if the CPI data were to show a much higher increases in inflation than presently estimated, indicating there is still upside risk to US (interest rates) and potentially interest rates around the world, which will be bad for equities." So if you dare invest, be very careful with what you pick.