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No worries lah, if not playing contra you won't get burn easily. The foundation for YZJ is good and i think it's one of the major shareholders wanting to get alot of money out of the profits for future expansion or personal interest and flooding the market with his shares. At least he never sell down!! At the end of the day, still a good stock to pick and will hit $3 counter sometime soon. Cheers
Singapore Hot Stocks-Ship and rig builders down on FX loss fears
Shares of ship and rig builders such as Cosco Corp
and Yangzijiang Shipbuilding
tumbled as investors feared more unannounced forex losses in the offshore and marine sector, dealers said.
In the past week, two companies, Labroy Marine
and SembCorp Marine
said they incurred large forex losses stemming from the US dollar's decline against most currencies.
Labroy said on Monday it has an unrealised forex loss of S$208.9 million due to currency hedging. SembMarine said last week that its finance executive undertook "unauthorised" foreign exchange transactions that could lead to a loss of $165 million.
[ID:nSIN101930] "The market is working on a hunch that there could be more (offshore and marine) companies out there that have these forex losses and this fear is just enveloping the market," said a local dealer.
Cosco Corp was down 3.8 percent to S$7.6 with 2.4 million shares traded. Yangzijiang fell 2.6 percent to S$2.59.
Yangzijiang was the most actively traded counter on the Singapore bourse with 96 million shares traded, including a "married", or off-exchange, deal of nearly 81 million shares at S$2.58.
Keppel Corp
was also 1.36 percent lower to S$14.50 with 1.5 million shares traded.
ASL Marine
fell 2.6 percent to S$1.87 with 540,000 shares traded.
0153 GMT- Straits Times Index <.STI> down 0.80 percent.
ghlau935, thanks for info.
pple think all shipping or ship building co has large forex losses...sell down not warranted
Time to run fast fast........
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2.580 |
80,774,000 |
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Yah, you never know when they will stop selling or the worst is yet to come....
Why buy in when shareholders selling???
Time to buy in if shareholders are selling out. Stock picking time. Don't worry, it will rebound after a few days. Cheers
anyone knows wats happen?
Wonder why such a big sell down.... some shareholders getting rid of holding???
Hi all. For the benefit of those who do not have access to time of sales. forex losses too lolx
