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Why don't our 2 state funds just pump another 10% liquidity into our stock market and STI may be the only green index in the region today!!!
State funds are set to make a bigger wave in global financial markets and the world economy - and Singapore's are in the leading pack, according to a recent study by London-based Standard Chartered Bank and Oxford Analytica, a consulting firm also based in London. Singapore is not just on the list of Super Seven Sovereign Wealth Funds (SWFs) with assets valued over US$100 billion, it is also the only country that boasts two SWFs - the Government of Singapore Investment Corporation (GIC) and Temasek - on the list. With estimated assets of US$215 billion in equities, real estate, commodities, foreign exchange and other investments, GIC is the third largest SWF in the world, behind the United Arab Emirates's Abu Dhabi Investment Authority fund (US$625 billion) and Norway's Government Pension Fund (US$322 billion).
Wow....what a way to greet us investors a very Good Morning, with a negative 90 points, a day to bite the bullet and ride thruough the waves man.
Singapore Straits Times Index falls 2.8 pct, led by banks
SINGAPORE, Oct 22 (Reuters) - Singapore's Straits Times Index <.STI> fell more than 2 percent during early trade on Monday, led by losses in Singapore Telecommunications (SingTel) and banks, following a sharp decline on Wall Street.
By 0101 GMT, the STI was down 2.8 percent to 3,644.27 points.
SingTel fell 3.5 percent, DBS Group and United Overseas Bank both fell 2.3 percent while Oversea-Chinese Banking Corp was down 2.2 percent.
Elsewhere, Japan's Nikkei average <.N225> dropped 3.0 percent and Seoul stocks <.KS11> fell 3.4 percent.
Caterpillar Inc's warning that the housing slump was infecting the wider economy sent U.S. stocks tumbling by the most in more than two months on Friday, in a drop that was made more unnerving as it marked the 20th anniversary of the 1987 market crash.
The price will be push low by BBs and retailers will follow.
This is the usual tactics used by the BBs to make some killing even in a down market like now.
If every retailers has very good self-discipline, we will not have saw the huge drop last Friday.
So hold on thigh, experience traders like us, to ride this tide.
After being "punished" last friday, guess the contra players will be more worry and careful today.
Penny stocks don't seemed to be affected much last friday, will be in for some bargain hunting if the pennies are affected today, but ultimately, i still feel the blue chips will be affected more, yet again.
Good Luck to all
Estimate about 100-120 pt drop 1st (estimating on a basis of 2.5% -3% correction from Fri close of 3747.)
Hope all will not panic too much, manage your fears and expectations a bit.
Early opening Aisa Stock all shedded more then 2%.
Korea shedded more than 3%, almost 4%!!!
Its going to be a blood bath today here.
Get ready your safety belts and prepare your own parachut.
| ^AORD |
All Ordinaries |
Australia |
6,571.400 8:26AM SGT |
 151.900 (2.26%) |
Components, More |
| ^SSEC |
Shanghai Composite |
China |
5,818.047 Oct 19 |
7.235 (0.12%) |
Components, More |
| ^HSI |
Hang Seng |
Hong Kong |
29,465.05 Oct 18 |
 166.34 (0.57%) |
Components, More |
| ^BSESN |
BSE 30 |
India |
17,559.98 Oct 19 |
0.00 (0.00%) |
More |
| ^JKSE |
Jakarta Composite |
Indonesia |
2,563.752 Oct 19 |
0 (0.00%) |
Components, More |
| ^KLSE |
KLSE Composite |
Malaysia |
1,370.17 Oct 19 |
6.15 (0.45%) |
Components, More |
| ^N225 |
Nikkei 225 |
Japan |
16,355.18 8:06AM SGT |
459.19 (2.73%) |
More |
| ^NZ50 |
NZX 50 |
New Zealand |
4,316.313 Oct 19 |
3.159 (0.07%) |
Components, More |
| ^STI |
Straits Times |
Singapore |
3,747.98 Oct 19 |
0.00 (0.00%) |
Components, More |
| ^KS11 |
Seoul Composite |
South Korea |
1,893.04 8:26AM SGT |
77.06 (3.91%) |
Components, More |
| ^TWII |
Taiwan Weighted |
Taiwan |
9,611.72 Oct 19 |
0.00 (0.00%) |
More |
STOCKS NEWS ASIA-Markets seen weaker after US slide
HONG KONG, Oct 22 (Reuters) - Asian stocks look set to fall on Monday after those listed on Wall Street <.BKAS> slumped 3.6 percent following a tumble in U.S. shares as nerves about the U.S. housing market hurt sentiment.
Warning that the U.S. housing slump was infecting the wider economy by Caterpillar Inc , the world's top maker of earth-moving construction and mining equipment, helped send all three major U.S. stock gauges down more than 2.5 percent last Friday, the 20th anniversary of the 1987 market crash.
U.S-listed stocks of Asian firms also fell across the board with China plays such as Shanghai Petrochemical <0338.HK>, which have performed strongly recently, suffering the steepest declines.
MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> fell 0.9 percent last week, snapping eight straight weeks of gains.
should it be selective or all counters? I'm sure some counters are still good?
how far DBS can dip? Friday close at 21.4
Comes Monday, JUST SHORT!!!
Be even more cautious with trading for next week. Volatility will spike up in response to US markets, and once sentiments run high in the market, FA and TA tend to lose their accuracy quite a bit.
Past short-term market trends/behaviour can totally reverse or disaapear altogether.
Good luck!
come on Singapore, you are more educated and stable... why should you be panic and lets look the the volume, it small.
so only penic seller sells.. hold it, market will recover in short time and rebound
Mainly blue chips and financial stocks which had run up badly bruised
The rest with little run run is ok lah
Good rebound in the last 30 mins... ard 20 pts. Tks CWQuah
Was toying with SingTel and SIA for the last weeks hence the mistake and mix up on the figure 0.1
One thousand and one apology for the fright.
If Singtel shed 1.00SGD over a month or longer period it is fine, NOT at the rate of one trading session. *wink*
Anyway I can see that there will be opportunity to buy some valued stocks soon.... : )
Or maybe he mean SGX. Shedded $1.00.
Wanted to go in, but used up all my trading limit.
Can only see the price went back up.
KiLrOy, 10 cents i mean, my apology to you and all for the mistake
Hi CWQuah,
Hope you are right about the STI rebound thingy at the last 30 sec today
Myth or Self Fulfilling Prophecy or Real or Whatever - the Black Friday 19th October 20 years cycle ?
30 minutes to go with STI standing at 3,727 (-82 points) after opening at 3,809.
Let the Natural Market Force decides, before we end the week
CWQuah - 30 minutes count down starts
