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861-880 of 1135
Rebounded!!!
| Straits Times Index | 3322.38 | 3337.96 | +15.58 | +0.5 | 3337.96 | 3295.60 |
| UOB Sesdaq | 210.13 | 212.41 | +2.28 | +1.1 | 212.41 | 211.06 |
What does up must come down.
Look out for kateis today.
Singapore shares posted on Monday their biggest single-day rise in almost nine years, rallying along Southeast Asian peers after the US Federal Reserve slashed a key rate to help soothe investor concerns over a credit crunch. Singapore's benchmark Straits Times Index ended 6.1 per cent higher at 3,322.38 points in its biggest one-day jump since October 1998. Monday's rebound took the year-to-date gains to 11.3 per cent, led by surges in recently battered banking stocks such as DBS Group Holdings, which rose 9.2 per cent and Oversea Chinese Banking Corp, which jumped 6.8 per cent.
Hi, i'm new here... STI ended up about 190 points more than 6%.. It's biggest gain in the history.. probably due to the recent selldown and investors have realise that they have oversold local counters. with All-S Equities Fin ended up more than 8%. DBS was the top earner up nearly 10%. its biggest stock jump in terms of both value and percetage. follow closely was UOB up near 7% or $1.30 despite going ex-divided today.
A roller coaster ride these few weeks, it took merely 3 wks for STI to fall 600 points which it took more than half a yr to gain.. now it took 1 day to recover 1/3 of it.. I still think that local counters are relatively attractive especially the banks, UOB and DBS at current prices are very cheap. haha.. all these are my perception only.. =D
STI went up so fast and not sure about tonight and tomorrow.....i will just watch only.....until a clearer picture....
| STI | 3,289.24 | +158.53 | (+5.06%) |
| SESDAQ | 211.52 | +9.72 | (+4.82%) |
| BT-SRI | 1,647.13 | +72.53 | (+4.61%) |
| KLSE Comp | 1,191.55 | -16.06 | (-1.33%) |
| Nikkei 225 | 15,727.48 | +453.80 | (+2.97%) |
| Hang Seng | 21,124.10 | +736.97 | (+3.61%) |
| Dow | 13,079.08 | +233.30 | (+1.82%) |
| Nasdaq | 2,505.03 | +53.96 | (+2.20%) |
STI cheong too fast too furious.
Don't think able to sustain for the rest of the day.
In short, gov is treating all stocks as blue chips which suppose to be stronger & last longer.
Unfortunately, not all are equal in health and financially independent. They've forgotten that majority of population can't survive beyond 85. Why change the policy just to cater for the minority? Pinnacle is absolutely correct! In order to have the ability to retire earlier, you've got to be financially independent first.
Gov want us to work till 65 or work till die...
So whether i can retire earlier and my retirement pension now depend on the market. Hee...
STI cheong 4.6%!!!
Hope its not just a sudden spark.
Last evening, in the National Day Rally speech, Singapore?s Prime Minister Lee Hsien Loong unveiled numerous exciting projects for the coming years in line with the new slogan that Singapore is a city of possibilities. Of economic interest is the increase in the longer term economic growth (5- 10 years) of the country from 3-5% to 4-6%. The government also highlighted measures to tackle the challenges of a widening income gap and an aging population. To this, the government is also planning to raise the official retirement age of 62 and to increase the interest rate for CPF savings by 1%, cap at a maximum of S$60,000. Other measures include more upgrading and renewal programmes for public housing, re-employment of older workers, a fourth University and scheme to monetise HDB flats.
Overall, it painted a fairly positive picture of the future for Singapore, although for the near term, PM Lee also highlighted that the volatile situation in the US may affect Asia in the next 3-6 months.
This, together with last Friday?s unexpected cut by the US Federal Reserve to lower the interest rate it charges banks should give trading this week a boost after the past few sessions of selldown in Singapore. The Fed reduced rate by 0.5% to 5.75%, but left the federal funds target rate unchanged at 5.25%.
However, while the oversold situation is likely to be reversed this week, the recent volatility in the market is unlikely to evaporate overnight as confidence has been hurt from the past few days of selling pressure. We expect a more cautionary mood to prevail and for now, prefer a strategy of holding the more defensive sectors (including oil & gas linked companies such as SembCorp Marine, land transportation firms such as SMRT and ComfortDelgro, core blue chips such as Banks, ST Engineering and SPH) and value stocks.
By 0101 GMT, the index was up 3.8 percent at 3,250.27 points, with banks leading gains. DBS Group Holdings
On Friday, the benchmark index dived as much as 6 percent in their sharpest one-day fall since Sept. 12, 2001, before staging a turnaround to end down 0.68 percent.
Elsewhere in Asia, Japan's Nikkei Average rose 3.3 percent, and stocks in Seoul climbed 4.7 percent.
The Straits Times Index (STI) sliced through all our forecasted support levels and hit a low of 2,962.01 on 17th August and reversed thereafter in late afternoon, closing at 3,130.71. The plunge downwards has broken through the medium-term uptrend line, this might not bode well for the STI over the next few weeks.
However, given the extent of the correction, we can expect a rebound in the week ahead, which has been signaled by 2 indicators. The first being the Doji candlestick formation on the 17th of August that was on the back of very high volume. The second is that the short-term RSI and stochastic indicators are trading within oversold regions.
Elliot wave counts indicate the STI is currently undergoing wave 4 of a 5- wave up cycle.
Our forecasted rebound should face strong resistance around the levels of 3,250 - 3,350. A break above this zone would result in the index testing the medium-term uptrend line. This would be a crucial gauge of the market strength going forward. Should the STI break above the trend line, we can expect a test of support on that up-trend line. The support of that trend line would need to hold to signal that the STI would climb higher.
A failure to break through the trend line could result in the index pulling back towards our support level at 2,800.
China is 1 possibility, but the immediate problems lie with Sub Prime and Yen carry trade.