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Just unfortunate the China snow storm is hitting most China stocks now
Give STi a week or two
When rate cut wears off, DOW will crash again
STI aagin will come down
Goldman Sach - some of our banks banks will hit approx $14
Now trading range bound with downside bias
When Spore banks hit $14, STI will probably be down to 2600
Waiting for the banks to hit $14 before I go in to mkt
At least the STI is still hanging there slightly above 3000.
Basically buyers have no more faith in rate cuts
Thay why rate cuts have no effect
They know that the dive in DOW will come sooner or later
Market has turned into Rat shit... haha... forgive the crudenes...
Let see how Mr Rat will bring in the new year
I guess everyone is in bear mood. Time to hibernate for CNY.
Jan is the past....now is the beginning...let's start afresh in FEB~!!!!
Quotes:
Singapore shares are expected to open higher Friday on bargain-hunting after Wall Street rebounded overnight, but continuing concerns about the health of the US economy may cap gains.
On Thursday, the benchmark Straits Times Index fell 18.28 points or 0.6 percent to 2,981.75, after swinging between a low of 2,976.65 and a high of 3,036.77 points.
Market volume was 1.7 billion shares valued at 2.3 billion Singapore dollars.
Decliners outnumbered gainers 445 to 270 with 1,098 stocks unchanged.
The Federal Reserve's decision to further ease its key fund rate by 50 basis points to 3.0 percent has helped restore some confidence in the market, but a further easing is expected to prevent the US economy from slipping into recession.
"The Fed noted that downside risks to growth remain, and thus left the door open for additional rate cuts ahead. The market clearly believes that, as shown in the fed funds futures," Standard Chartered Bank said in a note to clients.
Central banks in Asia have followed the Fed rate cut, with the Philippine central bank cutting its key rates by 25 basis points and the Hong Kong Monetary Authority reducing its base rate by 50 basis points.
Among individual stocks, Keppel Corp is expected to gain after reporting forecast-beating 2007 results and a hefty dividend payout.
Keppel Corp yesterday said its net profit rose 50.6 percent to 1.13 billion Singapore dollars in 2007, boosted by strong contributions from its offshore and marine engineering and property businesses. That was better than 1.05 billion dollar average net profit estimate made by 18 analysts polled by Thomson Financial.
The company is paying a final dividend of 10 cents a share and a special dividend of 20 cents a share. It is also distributing 25 cents a share via a capital distribution exercise.
I hope those who were long earlier got out fast.
Solid pump n dump play now. check out SGX n Cosco.
still better to sit on the fence and watch the show
The way the market cheong up in the last 2 days already factored in another 50 basis pts cut next week by Feds Bermonki. Would be interesting to watch what will happen next week if Bermonki will do what the market wants him to.
Lets see after half time still ok not.
only intra day trade now:)
yes.....too drastic on the fluctuation.....one day -100 points, one day +100 points.....better stay sideline and watch the show
Time to take profit if doing intraday trade. Other Asian indices are up between .5% to 2.5%, but STI chionged 4.3%. Watch out for massive profit taking later.
Currently looks good :)
as long as the financial institutes are stable...it will be good...subprime problem must be settled down for the market to go up...last night rebound was because of the increased confidence in them now....
however we need to monitor next wk as well...there r indications hinted by those big financial firms that i saw on Bloomberg tt Fed may not go down on further cuts if there are no further stocks selldown ....it may rebound..."too fast"....but i really hope we can pick things up frm here....shall see...patience is virtue
SJ forumers, what's your opinion? Has the STI reach the bottom? Is this now a trend reversal? Dow is up 298 pts.
Quotes:
Singapore shares may open higher Thursday on the back of Wall Street's rally overnight, in a belated reaction to the Federal Reserve's surprise 75 basis points policy cut on Tuesday, with volatility likely to be a key feature given the US markets' wild swings yesterday.
The Dow Jones Industrial Average gained nearly 300 points Wednesday, but not after plunging over 300 points earlier during the trading session.
"Compared to August 17 when the surprise cut in the (Fed) discount rate pushed the market up globally, this time around people are only recovering what they have lost the day before, which actually shows that people are still cautious," said Goh Mou Lih, research head at Westcomb Securities.
Heightened fears of a US recession pulling down global economic growth caused the recent massive slump in equities markets.
"Investors will continue to be cautious and will look forward to the Fed's action in their scheduled meeting next week as well as the US GDP data that will be out," said Goh.
Yesterday, the Straits Times Index closed up 117.07 points or 4.1 percent at 2,983.62, after trading between 2,851.01 and 3,009.65. Gainers outpaced decliners 632 to 254 with 925 stocks unchanged. Market volume was 2.4 billion shares worth 2.9 billion Singapore dollars