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STI
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billywows
Elite |
19-Dec-2006 22:38
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But US market is a wet blanket now .... But STI should recover by 1% tomorrow. |
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maxsyn
Veteran |
19-Dec-2006 22:35
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good chance for bargain hunters, isn't it? likely a strong recovery for STI tomorrow. |
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billywows
Elite |
19-Dec-2006 22:32
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HeeHEE!! Just back home after hearing all the shitty market 'crash' on radio whole afternoon! Switch on PC and 1st thing saw Market watch "latest news" was the reverse control of the baht! Shiok or what?!!! |
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iPunter
Supreme |
19-Dec-2006 22:18
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Somehow, you just have the knack of bringing us good news!... :) |
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billywows
Elite |
19-Dec-2006 22:03
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Stay positive, guys .... Its Christmas, remember? :) |
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maxsyn
Veteran |
19-Dec-2006 21:03
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SINGAPORE - Shades of 1997's Asian contagion crisis? It was a little over 10 years ago that an unexpected devaluation of the Thai baht caused unprecedented selling of all regional currencies and markets and although no one seriously expects the same to occur now, Monday's shock news of Thai baht capital controls did nonetheless bring tremendous pressure to bear on stocks throughout the region.
Then again, the Straits Times Index did already gain 125 points for the month to date, of which 80 points came as it set three consecutive all-time highs between Thursday and Monday. Seen in this light, a precariously poised index was thus already vulnerable to shocks of any kind and so Tuesday's panic-selling which slashed 66.14 points or 2.2 per cent off the index to 2,897.3 was arguably not overly excessive. Turnover was a moderate 1.64 billion units worth $1.5 billion, excluding foreign currency issues which amounted to 32 million units. Excluding warrants and bonds, there were only 91 rises versus 332 falls. Tuesday's plunge was the second time in under a month that the index lost 50-odd points in one sitting, the first coming on Nov 28 (also a Tuesday) when it fell 53 points to 2,787 because of a steep fall the day before on Wall Street. There was no doubting that it was the Thai news that sent prices sliding - Thai stocks crashed almost 20 per cent at their low, the Jakarta index lost 3 per cent, the Bombay stock exchange index also 3 per cent, Hong Kong's Hang Seng Index 1.2 per cent, and Japan's Nikkei 1.1 per cent. Brokers were not overly surprised at the sell-off, with most observing that markets at their all-time highs are overdue for a correction. Also not surprising was the comment that 'Thailand has given people an excuse to take profits'. Thailand's central bank on Monday introduced currency curbs aimed at forcing speculators to keep their money in the country for at least a year. The baht had risen 16 per cent this year as economic growth accelerated and a Sep 19 coup ousted the incumbent prime minister. Here, the selling of stocks accelerated in the final half hour when it became obvious that Europe was not going to provide any stabilising influence when markets there opened with an average loss of one per cent. There was also no doubt as to which were the main targets of the selling here - SingTel fell 16 cents to $3.24 and DBS lost $1 to $21.60. Property counters also fell, although dealers pointed out that counters like SingTel, DBS and those from the property sector have all performed very well this year and so were due for a correction. Despite the fact that virtually all stocks came under pressure, there were a few pockets of strength. Mobile phone operator MobileOne, for example, gained 10 cents at $2.25 possibly because of its attractive dividend yield and the chance it might be a takeover target. Casino operator Genting International was another, rising one cent to 51 cents with 96 million shares traded while among the banks, OCBC stood out with only a 5-cent loss to $7.50. |
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singaporegal
Supreme |
19-Dec-2006 20:38
Yells: "Female TA nut" |
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I believe STI will be green tommorow. Nothing to worry about. Thailand's economy is just a fraction of the whole Asian region. If what happened today happened to Korea or Japan, then it would be really worrying. |
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maxsyn
Veteran |
19-Dec-2006 20:23
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fundamentally no problem in our economy. Sharp fall basically due to Thailand situation. |
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iPunter
Supreme |
19-Dec-2006 20:00
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Thank you, cashier... :) |
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cashiertan
Elite |
19-Dec-2006 19:21
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SEriously, i dun feel much of the current dip coz my stocks that are in red is still in red. my stock that in green are now in red after CD n CR. just got to hold and buy some when it bottoms out. i think no need to worried much as the economy is still on track and as long STI dun brk the usual trusted 15dsma should be alrite.. next time just learne dthe mistakes and take some profit along the climb.. |
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cashiertan
Elite |
19-Dec-2006 19:18
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Those who listen to my advice to lock in their portfolio abt 10%-30% should be happy like me as we got the spare cash to buy on dip. Cheers.. I dun anyhow share and advice but all with certain reason.. so i wonder who listened to what i suggested and lock in some profit? Horseh liao.. |
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iPunter
Supreme |
19-Dec-2006 19:14
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Cashier... at times like this we need you to help boost our morale a bit... :) |
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ed88ks
Senior |
19-Dec-2006 18:51
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Golden opportunity to pick up the bluest chip now , i hope there will be deeper correction tomorrow so that, those who miss out can now pick up your favourite. let the fund throw ,as the basic are all there for all of asia china and india with the middle-east will togather able to lift the market. |
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Sporeguy
Elite |
19-Dec-2006 17:42
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As long as there is no 2nd country in SEA doing currency control like in Thailand, then STI will be well supported at 2865(13MA). |
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Synapse
Member |
19-Dec-2006 17:11
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Agree with master cashiertan. 2900 is an impt support. This is usually the case for round nos from a psychological perspective. Looks like must make plans (just in case ... touch wood) to run ... |
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victor_lee
Member |
19-Dec-2006 16:44
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Bombay Stock Exchange dropped 430+ pts now! Looks like a major correction is taking place... |
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junjun
Member |
19-Dec-2006 15:57
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Thailand currency control can be good news to S'pore as funds will be shifted here. Any comment? |
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maxsyn
Veteran |
19-Dec-2006 15:31
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seems like it has hit the bottom and stablising now. |
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cashiertan
Elite |
19-Dec-2006 15:24
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just let the stocks take it course.. consider it as big correction only when it breaks the 2850 support. now is still on course currently. 2900 seem to be a invisible support.. thus now we can only depend on support line |
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ozone2002
Supreme |
19-Dec-2006 15:11
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What goes up fast...comes down HARDER!..let it slide baby!! pre-xmas shoppin |
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