Straits Times Index   

STI

SE Asia stocks - Credit worries hit financials, big caps



Southeast Asian stocks fell on Friday as concerns about U.S. credit markets hit Singapore-listed financial shares such as DBS Group and sagging energy shares weighed on Bangkok's market.

Singapore's benchmark Straits Times Index <.STI> dropped for a second straight day, closing down 1.05 percent at a more than two-month low of 3,440.96 points, while Thai stocks <.SETI> slipped 0.75 percent to a one-month low of 849.07 points.

The Philippine index <.PSI> shed nearly 2 percent, while Indonesian shares <.JKSE> fell 1.37 percent, Malaysia's index <.KLSE> eased 0.24 percent and Vietnam <.VNI> dropped 0.45 percent.

Asian stocks followed losses in U.S. markets on Thursday on concerns that U.S. credit losses from mortgage defaults and slumping home prices would worsen.

Most Southeast Asian stocks took a breather this week after strong gains since the start of the year, fuelled by higher foreign fund flows.

In Singapore, DBS Group , Southeast Asia's largest lender, fell 1.52 percent, extending Thursday's decline after a rising earlier in the week.

United Overseas Bank , Singapore's second-largest bank, dropped as much as two percent.

Blue chips such as Singapore Telecommunications eased 0.53 percent, while Keppel Corp was off 1.53 percent.

"With U.S. stocks remaining volatile, the Singapore market could not recover strongly," Najeeb Jarhom, head of research at Fraser Securities in Singapore.

"The market would see minor downward pressure next week but won't be as bad as this week and the week before," he said.

In Thailand, foreign sellers dominated the market for a fifth straight day, with PTT down 1.6 percent, PTT Exploration off 0.7 percent and Banpu 3.7 percent lower.

Banks extended their losses in the Philippines where Metro Bank fell 4.5 percent after a 3.5 percent decline on Thursday. Bank of the Phillippine Islands dropped 6.8 percent.

Malaysia was weighed down by financial firm Bumiputra Commerce Holdings , off nearly 1 percent, and gaming group Genting BHD which fell 1.3 percent.

In Indonesia, coal miner Bumi Resources fell 4.7 percent and Telekom Indonesia dropped 1.4 percent.

In the region's smallest market, Vietnam, broker Hai Phong Securirities fell 1.5 percent and Petroleum Technical Services Corp was down 0.75 percent.

 

This week is a very bad and bloody week.

Hopefully next week will be much better. At least the DJ Future is green now.

Name	Prev	Last	+/-	%	High	Low
All-S Equities Com	1197.23	1175.65	-21.58	-1.8	1189.13	1168.76
All-S Equities Cons	614.64	603.16	-11.48	-1.9	610.81	596.91
All-S Equities Fin	2382.46	2369.44	-13.02	-0.5	2381.33	2341.57
All-S Equities Hotels	1407.56	1391.59	-15.97	-1.1	1407.76	1386.75
All-S Equities Mfg	1570.91	1538.39	-32.52	-2.1	1558.58	1538.39
All-S Equities MultiI	2704.19	2673.95	-30.24	-1.1	2681.15	2497.66
All-S Equities Prop	1405.50	1383.02	-22.48	-1.6	1384.99	1372.70
All-S Equities TSC	1772.99	1756.21	-16.78	-0.9	1763.31	1742.65
All-SingEquities	976.09	963.45	-12.64	-1.3	966.83	956.61
BT-SRI	1817.69	1790.65	-27.04	-1.5	1799.13	1772.08
SingEquities Elect	107.17	105.37	-1.80	-1.7	106.59	104.68
SingEquities Foreign	362.77	356.26	-6.51	-1.8	361.27	354.10
SingEquities Mainbd	183.93	181.43	-2.50	-1.4	182.09	180.40
Straits Times Index	3477.59	3440.96	-36.63	-1.0	3453.98	3405.86
UOB Sesdaq	214.02	213.68	-0.34	-0.2	214.80	209.92

 

Asia Stocks Week Ahead-U.S. worries to keep a lid on markets



Asian stocks may find some tentative support in sessions ahead, after three straight weeks of losses, but ongoing worries about the fallout from credit markets are likely to keep any gains in check.

There are also concerns about more interest rates rises in China following a recent batch of solid data, including one showing capital spending in October rising at the fastest pace in over a year.

Fresh U.S. housing data as well as a report on U.S. consumer sentiment in the week ahead will also be closely watched to gauge the health of U.S. consumers, which drive about two-thirds of the U.S. economy, Asia's top export destination.

Stocks in the Asia Pacific region, excluding Japan <.MIAPJ0000PUS> have fallen about 10 percent from the Nov. 1 record high, but they are still up nearly 35 percent so far this year. Japan's Nikkei <.N225> is down 12 percent year-to-date, with the majority of the losses in the past month alone.

Analysts warn that markets are still on shaky grounds.

"The combination of ongoing worries about the impact of the sub-prime crisis, record oil prices and whether the Fed will cut interest rates quickly enough are all likely to weigh further on shares over the next few weeks," said Sydney-based Shane Oliver, head of investment strategy at AMP Capital Investors.

Markets in the United States and Japan will have a shortened trading week due to their respective holidays.

-- FACTORS TO WATCH (FOR WEEK STARTING NOV 19) ** For Asian company earnings, see [ASIA/EQTY] ** Key U.S. earnings/data (for Wall Street report, see [.N]) Monday - Earnings: Hewlett-Packard Q4 Tuesday - Earnings: Target Corp Q3 - Oct housing starts, building permits Wednesday - FOMC minutes from Oct 30-31 meeting - Nov Reuters/UMich Sentiment (final) - Oct lead indicators Thursday - Markets closed - Thanksgiving Day -- ** IN JAPAN (for Tokyo report, see [.T]) Stocks are likely to make some headway in the week ahead after having slid to 15-month lows as investors start to look for bargains among beaten-down shares.

"Investors are unlikely to keep selling Japanese stocks.

Rather, the market is expected to make a sharp rise if there is good market-moving news," said Hiroyuki Fukunaga of Investrust Inc.

"I'm paying close attention to bank shares. If they are relatively firm next week, it will support the market." He said the benchmark Nikkei average <.N225> is likely to move between 14,950-15,500.

Monday - Earnings: Sumitomo Mitsui Financial <8316.T> H1 Friday - Markets closed, National holiday -- ** IN KOREA (for Seoul report, see [.KS]) Worries that credit losses from U.S. mortgage defaults would grow worse and hit consumption in the world's largest economy, also South Korea's second-biggest export market, are likely to keep the market jittery.

Firms dependent on demand from China such as steel makers are also seen under pressure amid expectations of a hike in China's interest rates, analysts said.

"Markets could extend recent falls. There are fears that more losses related to subprime mortgages will be exposed and equity bulls are now starting to think the good days are over," said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities.

Tuesday - Financial Supervisory Service Governor to meet with chief executives of domestic banks (0600 GMT) -- ** IN HONG KONG (for Hong Kong report, see [.HK]) After taking hits on fears of further fallout from risky credit, investors are bracing for more declines as they eye possible further tightening by China.

"Uncertainties in China, the macroeconomic tightening will be a major driver that could drag down the index," said Castor Pang, strategist at SHK Financial Group, adding that the benchmark Hang Seng Index <.HSI> should find support at 25,000 points.

 

QUOTES:

SINGAPORE - Stock markets across Asia tumbled Friday with benchmarks in Hong Kong and Korea shedding more than 2 percent as investors digested the latest news on the subprime crisis, including Wells Fargo's conclusion that the US housing market is in its worst shape since the Great Depression.

The Hang Seng was last down 859 points, or 3 percent, at 27,892 with banks and property companies leading the decline.

"The market will remain in a consolidation mode today as overseas markets drag down sentiment," said Francis Lun, general manager at Fulbright Securities.

"Trading is likely [to be] rangebound as investors remain cautious as they await statements regarding the outlook [for] interest rates." Reports that the authorities in Shenzhen, just across the border in mainland China, are moving to limit cash withdrawals from bank accounts in the city to prevent the alleged illegal flow of mainland funds into Hong Kong added to the downdraft.

The proximity of Shenzhen to Hong Kong encourages residents there to open accounts here to trade in the local stock market, and this has been a major source of funds for the local bourse in recent months, media reported.

The South Korean KOSPI lost 2.2 percent to 1,905.

"The market is seeing greater volatility and an unstable Wall Street is surely the epicentre," said Lim Dong-Min, an analyst at Dongbu Securities in Seoul.

Lim is advising investors to hunt for bargains ahead of an expected year-end rally. Despite the mood of doom and gloom toward the US economy, the analyst is expecting it to achieve a so-called 'soft landing.' Outside of the financial sector, third-quarter earnings were steady, he said.

"If oil prices find stability and thus relieve worry about inflation, the US markets would soon rebound," he said.

More bad news Overnight, the major US indexes closed lower with the Dow Jones Industrial Average losing 120 points, or 0.9 percent, to 13,110.

Wells Fargo president and chief executive John Stumpf soured the mood when he said the housing market is experiencing its steepest decline since the Great Depression. A Barron's report that a General Electric Asset Management bond fund has suffered losses in mortgage-backed securities and is offering investors the option to redeem their holdings in the short-term institutional bond fund at 96 cents on the dollar added to the gloom. The losses in the bond fund raised concerns that the squeeze on credit markets could spread and hurt small investors.

In the UK, Barclays said it took a 2.7 billion dollar charge in the third quarter on subprime-related securities and warned it expects more writedowns.

Meanwhile, the big US retailer JC Penney reported a 9 percent drop in fiscal third-quarter profit on weak sales and cut its fourth-quarter outlook, heightening concerns that the housing sector problems and sky-high oil prices are squeezing consumers.

Morgan Stanley said strong pressures are now being piled on US consumers from five fronts, presenting the toughest challenge since the recession of 2001.

"Job growth is slowing, surging energy and food quotes are draining purchasing power, adjustable-rate mortgages are resetting, lending standards are tightening, and housing wealth will likely decline," said economist Richard Berner.

The economist is forecasting at best sluggish growth in the near term. Yen pressures exporters In Tokyo, the Nikkei was down 1.6 percent at 15,150 and the Topix was down 2 percent at 1,469, with exporters under fresh pressure from a strengthening yen.

The dollar was last quoted at 109.93 yen, down 0.3 percent from late Thursday.

Toyota Motor Corp fell 1.6 percent to 6,120 yen as the market found little comfort in a Nikkei report that the carmaker plans to reduce the weight of its midsize passenger cars by 10 percent to improve fuel efficiency. Sony fell 1.3 percent to 5,340 yen, and Canon was down1.6 percent at 5,480 yen.

Tyre-maker Bridgestone lost 3.1 percent to 2,045 yen.

Among financials, Sumitomo Trust & Banking Co fell 2.4 percent to 781 yen after the bank announced Thursday its net profit dropped 41 percent in the first half ended September on losses stemming from investments in subprime mortgage -related products.

Mizuho Financial Group tumbled 4.4 percent at 522,000 after Moody's Investors Service revised the outlook on the ratings of its units to negative after the bank reported a 16 percent fall in first-half net profit and issued a profit warning for the full year. Financials were also lower in Hong Kong. Bank of China lost 3.3 percent to 4.37 dollars, Bank of East Asia lost 2.2 percent to 47.40 dollars and HSBC shed 1.7 percent to 136.50 dollars.

Resource stocks were the main decliners in Australia after pullbacks in gold and oil prices overnight.

The S&P/ASX 200 was down 0.7 percent at 6,480 and the All Ordinaries fell 0.7 percent to 6,548.

Australia's largest pure gold miner, Newcrest Mining, fell 2.5 percent to 32.89 dollars after the December Comex gold contract plunged 3.4 percent overnight.

Lihir gold was 2.7 percent weaker at 3.90 dollars.

BHP Billiton rose 1.3 percent to 41.70 and Rio Tinto was up 0.3 percent at 134.95 dollars on continued speculation that Rio Tinto might launch a counterbid for BHP Billiton.

Rio Tinto, which has rejected a three-for-one share offer from BHP Billiton, is reportedly considering a range of defense options.

Elsewhere, the Singapore Straits Times was down 1.5 percent at 3,426, the Kuala Lumpur Composite lost 0.2 percent to 1,386 and the Philippines Composite was down 1.4 percent at 3,620.

The Shanghai Composite fell 1.2 percent to 5,303 and the Taiwanese Taiex was down 1.9 percent at 8,735.

 

		Last Trade	Change	Related Info
^STI	Straits Times	3,420.47 12:30PM SGT	57.12 (1.64%)	Components, More
^SESD	UOB Sesdaq	212.78 12:31PM SGT	1.24 (0.58%)	More
^BSRI	BT-SRI	1,778.90 12:31PM SGT	38.79 (2.13%)	More
^MAIN	SingEquities Mainbd	180.80 12:31PM SGT	3.13 (1.70%)	More
^FRGN	SingEquities Foreign	355.53 12:31PM SGT	7.24 (2.00%)	More
^ELCT	SingEquities Elect	105.28 12:26PM SGT	1.89 (1.76%)	More
^HLRS	All-S Equitites Hotels	1,394.19 12:21PM SGT	13.37 (0.95%)	More
^CMCE	All-S Equities Com	1,171.61 12:31PM SGT	25.62 (2.14%)	More
^ASIN	All-SingEquities	959.91 12:31PM SGT	16.18 (1.66%)	More
^MLTI	All-S Equities Multi	2,647.34 12:21PM SGT	56.85 (2.10%)	More
^CONT	All-S Equities Cons	598.22 12:31PM SGT	16.42 (2.67%)	More
^PROP	All-S Equities Prop	1,375.46 12:31PM SGT	30.04 (2.14%)	More
^FIAN	All-S Equities Fin	2,360.63 12:31PM SGT	21.83 (0.92%)	More
^TSCM	All-S Equities TSC	1,743.56 12:31PM SGT	29.43 (1.66%)	More
^MAFT	All-S Equities Mig	1,545.45 12:31PM SGT	25.46 (1.62%)	More

 

Asia/Pacific			Last Trade	Change	Related Info
^AORD	All Ordinaries	Australia	6,526.100 1:11PM SGT	68.300 (1.04%)	Components, More
^SSEC	Shanghai Composite	China	5,270.396 11:30AM SGT	94.871 (1.77%)	Components, More
^HSI	Hang Seng	Hong Kong	27,638.91 1:07PM SGT	1,112.30 (3.87%)	Components, More
^BSESN	BSE 30	India	19,704.30 1:07PM SGT	80.59 (0.41%)	More
^JKSE	Jakarta Composite	Indonesia	2,655.4009 1:22PM SGT	50.4192 (1.86%)	Components, More
^KLSE	KLSE Composite	Malaysia	1,390.00 Nov 15	5.42 (0.39%)	Components, More
^N225	Nikkei 225	Japan	15,110.55 1:02PM SGT	285.75 (1.86%)	More
^NZ50	NZX 50	New Zealand	4,114.178 12:31PM SGT	1.128 (0.03%)	Components, More
^STI	Straits Times	Singapore	3,420.47 12:30PM SGT	57.12 (1.64%)	Components, More
^KS11	Seoul Composite	South Korea	1,908.9 1:22PM SGT	38.84 (1.99%)	Components, More
^TWII	Taiwan Weighted	Taiwan	8,754.00 1:22PM SGT	151.41 (1.70%)	More

 

GLOBAL MARKETS-Shares fall on U.S. worries; bonds, yen rise

Asian stocks extended their falls on Friday amid renewed worries about the health of the U.S.

economy and investors took cover in the relative safety of government bonds, sending yields sharply lower.

The yen rose against the dollar as investors reversed risky bets that involved selling the low-yielding Japanese currency, as weaker Asian equities quelled risk demand.

Oil prices steadied below $94 a barrel after a surprise rise in U.S. crude inventories eased supply concerns, while gold firmed after falling 3.5 percent to a two-week low the previous day.

By the midsession break, Tokyo's Nikkei average <.N225> had fallen 1.6 percent, taking a cue from U.S. stocks <.DJI> which sank on Thursday on worries that credit losses from mortgage defaults were mounting.

MSCI's measure of other Asia Pacific stocks <.MIAPJ0000PUS> shed 2.2 percent. The index has fallen about 10 percent from the Nov. 1 record high, but still up 34 percent this year, about four times the gains for global stocks <.MIWD00000PUS>.

"Market sentiment is turning from worry to fear. Investors who had maintained a positive view until recently are now starting to think the bull run in the equities market might be over," said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities in Seoul.

Worries about the U.S. economy grew after the chief executive of No. 2 U.S. mortgage lender, Wells Fargo & Co , said the U.S. housing slump was far from over and was the worst since the Great Depression in the 1930s. [ID:nN15300039] South Korea's benchmark KOSPI <.KS11> dropped 2.7 percent, Taiwan's TAIEX index <.TWII> was down 2.1 percent, and Hong Kong's Hang Seng Index <.HSI> fell 3 percent.

Australia's key S&P/ASX 200 index <.AXJO> was down a smaller 0.9 percent, buoyed by rises in some resource shares. Shares of iron ore prospector Fortescue Metals Group rose after it said it would make a major announcement to the stock exchange, amid speculation a Chinese company may take a stake in the firm.

BANKS DOWN, YEN FIRM Investors sold bank stocks on credit worries, knocking the MSCI index for regional banks <.MIAP0FN00PUS> down 2 percent.

National Australia Bank fell nearly 4 percent, South Korea's Shinhan Financial Group <055550.KS> dropped 2.6 percent and Japan's Mizuho Financial <8411.T> slid 4.4 percent.

Japanese exporters were also hit by the stronger yen as investors worry that the rising currency would mean weaker profits from overseas sales. Canon Inc <7751.T>, Sony Corp <6758.T> and Honda Motor <7267.T> all fell more than 1 percent.

But mining giant BHP Billiton bucked the weaker market trend, rising nearly 1 percent after the Wall Street Journal reported that Rio Tinto was fighting off its unsolicited bid by considering a counterbid for the world's biggest miner. [ID:nSYD97874] With tumbling stock markets, investors scurried to safe-haven government bonds, sending the yield on the benchmark 10-year Japanese bond down 3.5 basis points to a 22-month low of 1.460 percent.

But yield spreads between emerging market debt and U.S.

Treasury notes <11EMJ>, a key gauge of risk aversion, blew out 7 basis points after a similarly sharp move the previous session.

The fall in risk appetite helped support the yen. The dollar bought 110.05 yen , keeping within sight of 18-month lows of 109.10 yen set this week.

Against the dollar, the euro bought $1.4620, edging up from late U.S. trade.

 

CIMB - Singapore Strategy - 3Q review ? Coping with cost pressures

Market earnings growth estimates for FY07 have been slightly lowered after the 3Q reporting season, the first time in recent quarters, led by EPS cuts for property (lower selling price assumptions) and telcos (cost pressure for M1). Generally, the big-caps did not disappoint. The change in index EPS is not as important as the underlying trends gleaned from the 3Q results of non-index stocks. In 3Q, as oil moved from US$70/bbl to US$80/bbl, CPO producers, coal producers, bulk freighters, O&M divisions and crane operators all did well. On the reverse, companies that needed coal-related feedstock, needed to pay high freight charges for commodity raw materials and China F&B companies suffered. As oil prices charge ahead from US$80/bbl (end-September) to US$94/bbl, we highlight the vulnerable sectors and the 'safe' sectors in this piece. We maintain our end-2007 STI target of 3,780 for now as we review our sector calls for 2008.

 

GLOBAL MARKETS-Asian shares slide on U.S. worry, bonds rise



Asian stocks resumed their decline on Friday amid renewed worries about the health of the U.S. economy and investors took cover in the relative safety of government bonds, sending yields sharply lower.

Growing risk aversion helped support the yen, which rose against the dollar and euro as investors reversed risky bets that involved selling the low-yielding Japanese currency.

U.S. crude was steadier but held below $94 a barrel after a surprise rise in U.S. crude inventories eased supply concerns, while gold edged up to $791 an ounce after plumbing a two-week low near $782 on profit taking overnight.

Worries about the U.S. economy grew after the chief executive of No. 2 U.S. mortgage lender, Wells Fargo & Co , said the U.S. housing slump was far from over and was the worst since the Great Depression. [ID:nN15300039] Adding to the gloom, Starbucks Corp reported that for the first quarter in its history, the number of customer visits to its established U.S. stores fell. [ID:nN15331155] By 0030 GMT, Tokyo's Nikkei average <.N225> had fallen 1.6 percent, while MSCI's measure of other Asia Pacific stocks <.MIAPJ0000PUS> shed 0.8 percent.

South Korea's benchmark KOSPI <.KS11> dropped 2.4 percent and Australia's key S&P/ASX 200 index <.AXJO> was down 0.7 percent.

"Market sentiment is turning from worry to fear. Investors who had maintained a positive view until recently are now starting to think the bull run in the equities market might be over," said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities in Seoul.

The MSCI index has fallen about 8 percent from the Nov. 1 record high, but still up 36 percent this year, four times the gains for global stocks <.MIWD00000PUS>.

Yield spreads between emerging market debt and U.S. Treasury notes <11EMJ>, a key gauge of risk aversion, blew out 8 basis points.

Investors scurried to safe-haven government bonds, sending the yield on the benchmark 10-year Japanese bond down 3.5 basis points to a 22-month low of 1.460 percent.

On Thursday, the Dow Jones industrial average <.DJI> slid 0.9 percent to finish at 13,110.05, while the Nasdaq Composite Index <.IXIC> fell 1 percent to 2,618.51.

BANKS DOWN, YEN FIRM Investors sold bank stocks on credit worries, knocking the MSCI index for regional banks <.MIAP0FN00PUS> down 1.4 percent.

National Australia Bank fell nearly 4 percent, South Korea's Shinhan Financial Group <055550.KS> dropped 4.2 percent, Japan's Mizuho Financial <8411.T> slid 5.5 percent and Citigroup <8710.T> lost 4.7 percent.

Japanese exporters were also hit by the stronger yen as investors worry that the rising currency would mean weaker profits from overseas sales. Canon Inc <7751.T>, Sony Corp <6758.T> and Honda Motor <7267.T> all fell more than 1 percent.

But mining giant BHP Billiton bucked the weaker market trend, rising nearly 1 percent after the Wall Street Journal reported that Rio Tinto was fighting off its unsolicited bid by making a counterbid for the world's biggest miner. [ID:nSYD97874] The fall in risk appetite helped support the yen. The dollar bought 110.34 yen , keeping within sight of 18-month lows of 109.10 yen set this week. The euro fetched 161.26 yen after falling 1.3 percent in U.S. trade.

Against the dollar, the euro bought $1.4622, edging up from late U.S. trade.

"Declines in equity prices are keeping yen carry trades sidelined, with the greenback on the receiving end of a mild safe-haven bid," Michael Woolfolk, senior currency strategist with The Bank of New York Mellon said in a research note.

 

Singapore's retail sales in September rose a seasonally adjusted 1.0 per cent from August, government data showed. The rise in retail sales in September after adjustment for seasonal patterns follows an 8.7 per cent rise in August due to strong car sales.

Singapore share prices closed 1.34 per cent lower on Thursday on continued worries that a crisis in the US subprime mortgage sector will hurt Asian economies and markets, dealers said. The main Straits Times Index fell 47.32 points to 3,477.59. Volume was 1.95 billion shares worth $1.97 billion (US$1.37 billion) with 220 risers, 605 losers and 856 stocks staying flat.

 

ok thanks.

 

01101749

picture must first be in web server,   Just RIGHT click to save the URL by selecting "Copy Image Location " or equivalent, then come to this Post A Reply, click the Insert/Modify Image button, you see popup menu asking for URL, move mouse there, RIGHT CLICK again, the Saved URL will appear in this space. Now you can click PreView to see for yourselves the correct Picture shown, once correct, click OK, and Post..

Good luck

 

hi mirage, how do u manage to paste pic in this forum can show me?

i click the insert/modify image icon but it's asking for URL.

how to attach pic from my computer?

 

 



 



Hi SingaporeGal,

Above are the 6 month chart for your info.

 



 



 



Above 3 charts are for the 1 year trend.

Hi SingaporeGal for your info.

Thanks, Regards,mirage

 

 

 

Hi mirage,

My main charts are the Acc/Dist and the Chaikin chart. However, they are volume based charts so they don't work on the STI. Therefore I generally only use charts for actual stocks.

Looking at your MA chart that you posted, the shorter 10 day MA is travelling in the same direction as the 20 day MA. Because I don't see any cross over happening soon, I will say that the STI is on a downtrend now.

 

Hi SingaporeGal, thanks for your reply, well looking at the trend, any idea, when will STI make a trend reversal? 

Attached is a 3 month trend of STI.

Thanks, Regards, mirage.

 



 

 

 

Hi mirage,

I don't make use of support or resistance levels. I look at the trend.  

 

SE Asia Stocks-Mixed, SembCorp leads Singapore losses



Southeast Asian stocks were mixed on Thursday, as blue chips such as Singapore Airlines weighed down the city-state while palm oil firms such as IOI Corp boosted Malaysia and Indonesia.

Singapore's benchmark Straits Times Index <.STI> dropped 1.34 percent, while Thai stocks <.SETI> were down 0.7 percent and the Philippine index <.PSI> retreated 0.26 percent.

But Indonesian shares <.JKSE> gained 0.52 percent, Malaysian shares <.KLSE> edged up 0.39 percent and the region's smallest market Vietnam <.VNI> added 0.9 percent.

Asian shares mostly weakened after posting gains the previous day, as investors turned cautious ahead of U.S. and euro zone inflation data.

In Singapore, SembCorp Industries slid 4.5 percent, as investors continued to sell the stock after news last month of forex trading losses in its marine unit. The stock is still up 38 percent this year.

Blue chips fell, such as Singapore Airlines , down 2.7 percent, with Singapore Telecommunications down 1.6 percent and bank OCBC losing 1.8 percent.

Property and electronic counters were also hit, with Keppel Land down 3.1 percent and Creative Tech losing 3 percent while Chartered Semiconductor was down 2.9 percent.

"The tech sector is still contracting," said Alvin Liew, economist at Standard Chartered.

Datacraft led Singapore gainers, up 5.6 percent, after Southeast Asia's largest computer data provider posted a 43 percent rise in quarterly profit.

In Thailand, falls were led by Thai Rubber , which slid 26 percent, after reporting third quarter losses. Utility Ratchaburi fell 5.2 percent and PTT Chemical fell 4 percent.

In the Philippines losses were driven by banks, as Metro Bank fell 3.5 percent, Bank of the Phillippine Islands down 2.2 percent, with conglomerate Ayala losing 3 percent, following on from a 9 percent drop in third quarter profit.

By contrast Malaysia was pushed up by banks and traders, with top palm oil firm IOI Corp climbing 2.8 percent, after reporting a 77 percent jump in quarterly profit. Genting was up 1.9 percent and Malayan Banking gained 0.9 percent after its Q1 net profit rose 29 percent.

In Indonesia agriculture and mining firms also did well, with SMART gaining 4 percent on near record palm oil prices and International Nickel rising 1.5 percent, as investors bought back into the stock as a workers strike did not affect mining operations.

In Vietnam, top dairy firm Vinamilk gained 4.9 percent, after its profits for Jan-Oct outstripped 2006 by 11 percent, while the sixth-biggest lender Sacombank rose 3.9 percent.

 

Disappointing closing. DJ future had turned red again. Its going to be a yoyo market tonight.

Name	Prev	Last	+/-	%	High	Low
All-S Equities Com	1210.34	1197.23	-13.11	-1.1	1216.28	1194.38
All-S Equities Cons	609.77	614.64	+4.87	+0.8	617.56	600.05
All-S Equities Fin	2412.56	2382.46	-30.10	-1.2	2413.65	2378.08
All-S Equities Hotels	1421.96	1407.56	-14.40	-1.0	1427.74	1405.98
All-S Equities Mfg	1580.63	1570.91	-9.72	-0.6	1585.90	1566.54
All-S Equities MultiI	2750.26	2704.19	-46.07	-1.7	2748.46	2700.96
All-S Equities Prop	1419.27	1405.50	-13.77	-1.0	1417.70	1400.20
All-S Equities TSC	1804.60	1772.99	-31.61	-1.7	1812.07	1772.99
All-SingEquities	986.95	976.09	-10.86	-1.1	988.60	976.09
BT-SRI	1833.68	1817.69	-15.99	-0.9	1839.72	1817.69
SingEquities Elect	108.05	107.17	-0.88	-0.8	107.85	106.26
SingEquities Foreign	366.23	362.77	-3.46	-0.9	367.14	362.38
SingEquities Mainbd	185.93	183.93	-2.00	-1.1	186.01	183.93
Straits Times Index	3524.91	3477.59	-47.32	-1.3	3525.27	3477.59
UOB Sesdaq	218.70	214.02	-4.68	-2.1	218.54	214.02

 

Europe opened in mix. They are waiting for clearer signal from US opening.

Europe			Last Trade	Change	Related Info
^ATX	ATX	Austria	4,500.35 12:36AM SGT	34.60 (0.76%)	Components, More
^BFX	BEL-20	Belgium	4,133.23 4:19PM SGT	9.42 (0.23%)	More
OMXC20.CO	OMXC20.CO	Denmark	489.06 4:19PM SGT	0.29 (0.06%)	Components, More
^FCHI	CAC 40	France	5,598.28 4:19PM SGT	15.32 (0.27%)	More
^GDAXI	DAX	Germany	7,792.19 4:05PM SGT	9.08 (0.12%)	More
^AEX	AEX General	Netherlands	511.90 4:19PM SGT	0.42 (0.08%)	More
^OSEAX	OSE All Share	Norway	574.62 4:05PM SGT	1.76 (0.31%)	Components, More
^MIBTEL	MIBTel	Italy	29,921.0000 4:19PM SGT	17.0000 (0.06%)	Components, More
^IXX	ISE National-100	Turkey	100.90 6:00AM SGT	0.00 (0.00%)	More
^SMSI	Madrid General	Spain	1,712.13 12:38AM SGT	1.12 (0.07%)	Components, More
^OMXSPI	Stockholm General	Sweden	362.38 4:19PM SGT	0.66 (0.18%)	More
^SSMI	Swiss Market	Switzerland	8,647.54 4:19PM SGT	16.50 (0.19%)	More
^FTSE	FTSE 100	United Kingdom	6,441.50 4:19PM SGT	9.40 (0.15%)	Components, More