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Market falls weeds out weak holders
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kiasiDBT
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24-Nov-2010 08:04
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From Edge Singapore: Military exchange between both Koreas putting additional pressure on Singapore shares. STI off 1.5% at 3,142.11 vs down 1.1% at 3,155.77 midday; support eyed at 3,119 (Oct. 29 trough). Decliners outnumbering gainers by almost 7 to 1 in broad market vs 5 to 1 shortly after post-lunch trade. “The market has been correcting for about two weeks and now you can see some panic selling. It’s cleansing the market of some of the weak holders. It’s a bit overdone. There might be a rebound soon,” says head of equity sales at foreign brokerage. Among small caps, notable decliners include handful of Singapore-listed companies in midst of dual-listing in South Korea’s Kosdaq market; UMS Holdings (558.SG) down 4.1% at $0.465, China Gaoxian Fibre Fabric (I4U.SG) down 3.9% at $0.245. |
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kiasiDBT
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24-Nov-2010 08:02
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http://www.theedgesingapore.com/the-daily-edge/business/23409-market-fall-weeds-out-weak-holders-trader.html?showall=1 |
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