Straits Times Index   

STI to cross 3000 boosted by long-term investors

18th Dec 2006 STI=2966,19th Dec 2006 STI=2897 a drop of 66 pts in 1 day, (2.2%).

24th Jan 2007 STI=3150, 26th Jan 2007 STI=3088, a drop of 78 pts in 2 days (2.5%).

26th Feb 2007 STI=3308, 27th Feb 2007 STI=3232, a drop of 76 pts in 1 day (2.3%).

Standard type of drops! all dips supported at 21MA.

From May 2006 to July 2006, it cut the 21 MA 2 times up and 2 times down before moving above 21MA all the way till now.

 

Short the market, anyone ?

 

si liao, if Dow really closed at  -100 ++ points , STI will bleed big time tomorrow again, anyway, that is a good thing. I am waiting for that moment.

 

If this is really the expected and overdue Correction, the BBs are really cruel .... They fled just one day after China market opened for trading yesterday after the long CNY holiday.

Dow down 132 points and Nasdaq down 44 points now ......

 

That's it....

 

A few years back, nobody gives a damn on the Chinese bourse.  Now, even the DOW has to show some respect and follow suit.

 

Still going down....

 

Dow down 121 points and Nasdaq down 50 points now ...... Wow .... CRASH!!

 

DISASTER!!!

 

US market opened liao! Dow down 85 points and Nasdaq down 42 points now ...... Wow!

 

HONG KONG (MarketWatch) -- China's leading stock index tumbled nearly 9% Tuesday, marking its biggest plunge in a decade, on concerns of more economic tightening measures as China's parliament prepares for its annual session next week.

The Shanghai Composite Index, which tracks shares listed on the larger of China's two stock exchanges, tumbled 8.8% to 2,771.79. The declines rank as its biggest single-day drop since the benchmark plunged 9.4% on Feb. 18, 1997, which reportedly came after the death of reformist Communist Party elder Deng Xiaoping.

The Shenzhen Composite, a gauge of shares on China's smaller exchange, shed 8.5% to 709.81.

Analysts said the declines, which came a day after the Shanghai Composite ended at an all-time high, were sparked by concerns the government may implement new measures to cool speculative behavior.

"There's a combination of rumors buzzing around the market," said Garry Evans, an equity strategist for HSBC in Hong Kong.

Regional markets were also lower, with benchmarks in Hong Kong, Singapore, and Malaysia recording sharp declines. Taiwan's leading share index broke from the downtrend to end in positive territory.

Japan's Nikkei 225 snapped a three-session winning streak as Mitsui Fudosan Co. (JP:8801: news, chart, profile) and other property shares fell back on concerns they may have outpaced fundamentals after recent strong gains.

Market watchers said investors in China were spooked by rumors the government may impose a 20% capital gains tax, while comments by People's Bank of China Governor Zhou Xiaochuan, published in a Chinese-language publication Tuesday, also stirred unease about the prospect for further rate hikes.

"If inflationary pressure increases the central bank should consider monetary policy action, including interest rate policy," the Xinhua Finance news service reported Zhou as saying in the interview, which was published in the Hong Kong Commercial Daily.

Investors were also wary that additional macro-tightening policies could be in the works after the annual session of the China's National People's Congress, which gets underway March 5.

China's central bank lifted the reserve requirement on domestic banks by 50 basis points from Sunday.

"I think the market had gotten a little too expensive and had reached about 26 times forward price earnings, at the top of what we see as a fair value range," Evans said. Prior to Tuesday's decline the Shanghai Composite had risen 14% year to date, following on from a 130% gain in 2006.

Markets around the region were pressured by large fund selling, analysts said.

"There may be further squaring of positions in carry-trade portfolios," said Alex To, research director at Tai Fook Securities in Hong Kong. "If Asian markets are on a weakening trend hedge funds are going to liquidate positions and reduce exposure."

Elsewhere around the region, Japan's Nikkei ended 0.5% lower at 18,119.92, easing back after closing at its highest level since May 2, 2000 in the previous session. The more-inclusive Topix index was also lower, falling 0.3% to 1,811.33.

Australia's S&P/ASX 200 was down 0.8% and Singapore's Straits Times Index eased 2.3%. Malaysia's KLSE Composite Index was down 2.8% and New Zealand's NZSX-50 fell 0.3%.

South Korea's Kospi was off 1.1%, Thailand's SET Index shed 0.7%, and Indonesia's JSX Composite fell 1.1%. India's Bombay Sensex fell 1.3%.

Taiwan's Weighted Price Index ranked as the only regional index to end in positive territory. The benchmark closed at 7,901.96, rising 0.02% for the session.

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Alamak... why that greenspan talk about possible US recession?

Dow sure crash later... he should just spend his time fishing or something lah...

 

hope to bring some smile back, thk Qs

novena_33 Member	Posted: 27-Feb-2007 19:37
x 0 x 0	YES....APOIL.... ...not sure can buy this @60c...

 

Dealers noted heavy selling, which intensified in the afternoon. But some analysts said Tuesday's correction in Southeast Asian markets is long overdue.

"There's ample room for profit-taking, particularly in Singapore and Malaysia," said Malcolm Wood, regional strategist at Morgan Stanley, citing the strong runs that these markets have had in the past month.

The Singapore and Malaysia indexes have risen nearly 5 percent and 6 percent respectively in the past month.

Losses in the city-state were capped by gains in contract electronics firm Venture Corp. , which rose 6.8 percent after posting better-than-expected quarterly profits. Click on [ID:nSIN86840] for more details.

"Overall, the money is still here and there are stocks to buy, they won't stay away from the market for too long, said Winson Fong, who manages $2 billion as chief investment officer at SG Asset Management in Singapore.

So don't panic.

 

WoW!! Europe bleeding a bit more now ....

US market following down pretty BADLY on opening bells in 40 minutes time!!!!! What a nite later!



Dow futures down 79 points at 12,575

S&P 500 futures down 12.40 at 1,440.20

 

 from  CNBC?

 

I -tan888

where do u get all these US mkt news?

 

US convoy also got bombed today at Afghanistan.  Dick Cheney was not affected though.

 

Bad news, I think the US markets are going to get whacked tonight. DOW futures are down 77 pts now, NASDAQ futures down 22 pts and S&P futures down 10 pts.

 

greenspan, our mm same, same