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SYNEAR - PUNT OR INVEST!
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idesa168
Elite |
23-Sep-2007 17:50
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News from DJ, 21/9/07......DJ MARKET TALK: China Pig Reserves Could Boost Synear - Analyst 0648 GMT [Dow Jones] Synear (Z75.SG) could benefit from China's move to release pigs from central reserves, says analyst at local brokerage. Source tells told Dow Jones Newswires China is releasing 30,000 metric tons of live pigs from central reserves in move to curb surging pork prices; analyst says Synear could benefit as pork accounts for 20% of its raw material costs. Expects less of an impact for People's Food (P05.SG) as pork is sourced from overseas, but could lead to lower buying prices. Synear currently down 2.4% at S$1.61, People's Food currently +0.8% at S$1.20. (KIG) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires September 21, 2007 02:48 ET (06:48 GMT) Copyright (c) 2007 Dow Jones & Company, Inc. |
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idesa168
Elite |
23-Sep-2007 17:24
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Just wonder with the "good news" by the China Central Government that they will be releasing tons of pigs from their central reserve to fight the hike of pig price, this will benefit Synear as their pig cost about 20% of their raw material. When the news released to the mkt, Synear share price dive and plunge straight away. Opens on Fridat at 1.60 and gone all the way to 1.55 before recovering back. Are the BB manupulating the price or this counter is indeed on the down trend? I looked at the chart and agree that Synear seemd to head for the down trend, but I am not a TA person, dun really know how to read charts....I have the intention to collect more of Synear this coming week but the feeling will be damn sour if once collected and the nxt moment realised I can buy cheaper the next day, $%^&*! I am confident this counter will perform, hence I am happy to park my $$ here. Can anyone here advise, suggest or recommend any entry price? Just for discussion only, not to worry of comitting a "not so good" recommendation. |
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