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pikachu
Veteran |
13-Oct-2007 19:23
Yells: "Holy Cow!" |
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Monday will herald the continuation of the bull run! STI to be 4000 by year end! Our economy is doing very well! Go go go ! 
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Pinnacle
Master |
12-Oct-2007 23:17
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SE Asia Stocks-Mostly down; UOB, CityDev weigh on Singapore SINGAPORE, Oct 12 (Reuters) - Southeast Asian stocks mostly fell on Friday, tracking losses in regional markets, with United Overseas Bank Singapore shares <.STI> dipped 0.5 percent and Malaysian shares <.KLSE> fell 0.6 percent on investor concern that the long global equities rally may be running out of steam. Thai stocks <.SETI> were down 0.2 percent by 0944 GMT, but the Vietnam stock index <.VNI> bucked the trend, ending 0.5 percent higher. Stock markets in Indonesia <.JKSE> and the Philippines <.PSI> were closed on Friday for a public holiday. Singapore's second-largest lender United Overseas Bank fell 0.9 percent, and the country's No. 2 property developer City Developments was down 3 percent, dragging the benchmark Straits Times Index off Thursday's record close. Singapore Telecommunications Hong Kong's Hang Seng Index <.HSI> closed down 1 percent, and the Shanghai Composite Index <.SSEC> plunged more than 4 percent at one stage on Friday before ending almost flat, as investors took profits after record-breaking rallies in both markets. Investors in Singapore were also cautious ahead of China's five-yearly Communist Party Congress next week. Market watchers were anticipating the country's political elites will announce measures to cool China's economic growth. But the Singapore Exchange In Malaysia, state-controlled Telekom Malaysia In Thailand, bank stocks led falls, with top lender Bangkok Bank PCL The Thai index for bank stocks <.SETB> was down 1.2 percent. But energy firms capped losses, with top oil and gas firm PTT PCL |
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Pinnacle
Master |
12-Oct-2007 12:07
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Asia stocks lower; dlr flat ahead of U.S. data Oct 12 (Reuters) - Asian stocks retreated on Friday after a recent record-breaking streak, while the dollar held steady ahead of U.S. data expected to shed light on the timing of a next Fed interest rate cut. Investors will look to readings on September U.S. retail sales and producer prices at 1230 GMT for clues about the health of the world's largest economy. Economists expect retail sales to have risen 0.2 percent, after a 0.3 percent increase in August. Any number much weaker than that could revive expectations for a rate cut this month, analysts said. By 0310 GMT, MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> was off 0.7 percent. On Thursday, the index rose 1.5 percent to a fourth straight closing high. Tokyo's Nikkei <.N225> fell 0.5 percent by the midsession, dragged lower by Fast Retailing Co Ltd <9983.T>, which posted a bigger-than-expected fall in annual operating profit late on Thursday due to sluggish sales. "The markets have gained at a fast pace in recent sessions, and that's creating caution about how much further it can go in the short term," said Choo Hee-yeop, deputy general manager of asset management at Korea Investment and Securities. The tech-heavy Nasdaq Composite Index <.IXIC> slid 1.4 percent on Thursday, and the blue-chip Dow industrial average <.DJI> ended nearly 0.5 percent lower after earlier hitting an intraday record high. Oil Gold STOCKS RECOIL Seoul shares <.KS11> fell 0.9 percent, pulling back from a record high as banks slumped amid speculation about weaker earnings, while LG.Philips LCD dropped on worries a major shareholder will sell the rest of a stake to the market. Shares in Samsung Electronics <005930.KS> rose 1.6 percent before dropping to 0.2 percent lower, after the world's top memory chip maker posted flat quarterly profit as sluggish chip prices offset strong demand for its flat TV screens. [ID:nSEO246009] Australian shares fell 0.6 percent, snapping a five-session winning streak, with recent gainers such as banks falling due to concerns that valuations look over-priced. Hong Kong's Hang Seng <.HSI> dropped 2 percent, Singapore shares <.STI> eased 0.6 percent and Taiwan stocks <.TWII> fell 1 percent. DOLLAR STEADY VS EURO The dollar was steady against the euro ahead of the U.S. data. The yen stayed off a 2-1/2-month low against the euro but remained under pressure after the Bank of Japan kept interest rates on hold at 0.5 percent on Thursday. "U.S. data released later this session is likely to decide the direction of the dollar from here," said Mitsuru Sahara, senior VP of forex dealing at Bank of Tokyo-Mitsubishi UFJ. "The market's focus is whether today's economic reports change expectations for a Fed rate cut in October and December." The euro also got a boost after European Central Bank President Jean-Claude Trichet said economic growth in the euro zone and globally remains robust, despite recent financial market volatility. The euro traded at $1.4180 The dollar was flat at 117.25 yen Japanese government bond futures ticked higher following a rise in U.S. Treasuries, but caution over stock prices and a five-year bond offer during the session kept a cap on prices. The benchmark 10-year yield |
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Pinnacle
Master |
12-Oct-2007 08:44
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Is Singapore going to open lower as well? Oct 12 (Reuters) - Asian stocks eased on Friday, with Samsung Electronics under pressure ahead of its quarterly results, but a 2 percent jump in oil prices overnight helped lift some energy firms such as INPEX Holdings <1605.T>. Samsung Electronics <005930.KS>, the world's top memory chip maker, is expected to post lukewarm quarterly results later in the morning. Its shares were down 0.9 percent. [ID:nSEO305581] By 0025 GMT, MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> had lost 0.2 percent, while Tokyo's Nikkei Average <.N225> edged down 0.1 percent. The MSIC index had posted record-closing highs in each of the last four sessions. "The markets have gained at a fast pace over the past several sessions, and that's creating caution about how much further it can go in the short term," said Choo Hee-yeop, deputy general manager of asset management at Korea Investment and Securities. In Japan, investors dumped Fast Retailing <9983.T> a day after the clothing retailer reported a bigger-than-expected, 29 percent fall in quarterly profit, but Sanyo Electric <6764.T> climbed 1.1 percent after reaching a basic agreement to sell its unprofitable mobile phone business to Kyocera <6971.T> [ID:nT251240] and [ID:nT273153] Oil developer INPEX Holdings gained 0.8 percent. South Korea's benchmark KOSPI <.KS11> slipped 0.4 percent, retreating from a record high, on weakness in Samsung Electronics as well as top lender Kookmin Bank <060000.KS> and Shinhan Financial Group <055550.KS>. Both financial stocks have gained strongly recently. Australia's key S&P/ASX 200 index <.AXJO> fell 0.2 percent as bank shares, including Commonwealth Bank But strength in base metals prices helped shore up the major miners, driving BHP Billiton On Wall Street, Bidu The tech-heavy Nasdaq Composite Index <.IXIC> slid 1.4 percent, while the blue-chip Dow <.DJI>, which hit an intraday record high earlier, settled nearly 0.5 percent lower. |
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Pinnacle
Master |
11-Oct-2007 15:07
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Asian stocks hit records SINGAPORE, Oct 11 (Reuters) - Asian stocks extended gains on Thursday, with Australian, Singapore and South Korean markets setting new records, while the yen lost ground to the dollar and euro after the Bank of Japan kept interest rates on hold. European stocks were expected to creep higher, adding to their two-week rally, with rising crude oil prices likely to boost energy shares. Financial spread betters in London expected Britain's FTSE 100 <.FTSE> index to open 7-8 points higher, Germany's DAX <.GDAXI> 5 to 10 points higher and France's CAC 40 <.FCHI> flat to 6 points higher. The Bank of Japan left its benchmark overnight call rate unchanged at 0.50 percent as expected, as it waited for more evidence that problems in the U.S. housing and credit markets will not threaten its scenario for modest growth in the country. "Market players dumped the yen after they saw the BOJ's vote tally stayed at 8-1, with no change in the interest rate outlook," said a senior trader at a big Japanese bank. By 0545 GMT, MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> had risen 0.8 percent to a record high, propelling the world index <.MIWD00000PUS> to its best level ever and taking year-to-date gains to nearly 15 percent. The Nikkei average <.N225> rose 1.6 percent to end at its highest in nearly two-and-a-half months as ratings agency Moody's upgraded Japan's sovereign debt, lifting market sentiment. Sony Financial Holdings Inc <8729.T>, Sony Corp's <6758.T> financial unit, rose nearly 4 percent in its market debut amid easing investor worries about fallout from the U.S. subprime mortgage meltdown. RECORDS GALORE Australian shares <.AXJO> rose 0.5 percent to clinch a record closing peak for the third day in a row, buoyed by gains in resources firms such as Rio Tinto Ltd Oil Gold Seoul shares <.KS11> hit a record intraday high for a fourth straight day, while Singapore's Straits Times <.STI> touched a lifetime high. Hong Kong's Hang Seng <.HSI> hit an intraday high while Indian shares <.BSESN> struck a record peak at its open. Taiwan stocks <.TWII> closed up 0.6 percent. EURO AT 2-½ MONTH PEAK VS YEN The dollar edged up 0.1 percent to 117.30 yen The possibility of a U.S. rate cut has left the dollar unable to capitalise on a solid U.S. jobs report last week, remaining near an all-time low against the euro. Market players said the yen could get a boost if comments by BOJ Governor Toshihiko Fukui later in the day bolster expectations for a Japanese rate rise to 0.75 percent by year-end, though this is likely to have a modest impact. "If he makes a hawkish comment that increases expectations for a rate rise this year, that might cause a temporary bout of yen buying, but it won't lead to any trend towards yen strength," said Tohru Sasaki, chief foreign exchange strategist for JPMorgan Chase Bank in Tokyo. The euro rose 0.1 percent to $1.4160 Against the yen, the european currency struck a 2-½ month high after the BOJ rate decision. The euro rose 0.3 percent to 166.28 yen December 10-year futures rose 0.07 point to 134.40 <2JGBv1>. The benchmark 10-year yield <0#JPTSY=JBTC> fell 0.5 basis points to 1.720 percent. |
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mirage
Veteran |
11-Oct-2007 09:02
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Singapore shares are expected to open higher Thursday as investors remain upbeat on corporate quarterly results backed by a strong domestic economy. On Wednesday, the benchmark Straits Times Index closed down 51.3 points or 1.3 percent at the day's low of 3,814.45, after hitting a fresh record high of 3,906.16. There were 3.0 billion shares traded worth 2.7 billion Singapore dollars. Most analysts expect the upward market momentum to continue with intermittent profit-taking as investors are also wary about pushing the benchmark index too high too fast. It was the first time that the Straits Times Index breached 3,900 on Wednesday, prompting investors to lock in gains. The correction is healthy for the market to maintain its strong upward momentum, said Phillip Securities research head Chan Wai Chee. "Overall, the companies will do well and we are on track for our year-end target of 4,500 points" for the Straits Times Index, Chan said. Asian markets are expected to attract more capital inflows because of their strong growth story. Singapore's economy grew 9.4 percent in the third quarter based on the government's preliminary estimates released Wednesday, showing resilience in the face of the US subprime mortgage crisis. "Negative surprises in the US have been offset by positive surprises mainly in Asia," said Standard & Poor's global chief economist Dr David Wyss. |
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Pinnacle
Master |
10-Oct-2007 18:32
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SINGAPORE, Oct 10 (Reuters) - Singapore shares fell 1.3 percent on Wednesday, after hitting a life high, as investors booked profits in blue chip stocks such as Singapore Exchange Ltd In Singapore, investors welcomed data showing the economy grew by a seasonally adjusted 6.4 percent in the third quarter, putting it on track for annual growth at the top of a 7-8 percent range -- on a par with last year's robust growth of 7.9 percent. "The market hit a record high on the back of the bullish economic news," said Najeeb Jarhom, analyst at Fraser Research. "The market is bullish and sentiment is very good." The Straits Times Index <.STI> rose 1 percent to a record 3,906.16 points, before closing at 3,814.45 points. Jarhom predicted the index could hit the 4,050-point level by the year-end -- a gain of 6.2 percent from Wednesday's close. The Singapore dollar Stocks in Malaysia <.KLSE> added 0.6 percent, Thai shares <.SETI> rose 0.9 percent, and Vietnam's stock index <.VNI> advanced 0.7 percent. In Singapore, losses were led by a 4.3 percent drop in Singapore Exchange, Asia's second-largest listed bourse. The Exchange said on Tuesday its first-quarter net profit nearly tripled as volatile markets fuelled a surge in trading volume. The stock, which has nearly tripled since January, hit a record high on Monday on expectations of strong earnings. Banking stocks were among the top losers, with DBS Group Second-ranked United Overseas Bank In Jakarta, PT International Nickel Indonesia "There's so much liquidity in the market, and commodity and energy stocks are definitely the favourites," Rizal Prasetijo, a a research head at JP Morgan said. PT Bumi Resources Tbk |
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limhpp
Veteran |
10-Oct-2007 15:30
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I suppose is due to the US future is red now. |
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apple_jj
Member |
10-Oct-2007 15:23
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why DOW increased so much but STI slip right now, I though STI is follow DOW trend? what happen? |
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Pinnacle
Master |
10-Oct-2007 09:54
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SINGAPORE, Oct 10 (Reuters) - Asian stocks rose on Wednesday, cheered by a rally on Wall Street after talk the Federal Reserve might cut borrowing costs to stimulate economic growth in the United States, the region's largest export market.
Stocks climbed on the coat-tails of minutes from the Federal Reserve's last policy meeting that showed inflation expectations were contained, keeping alive hopes of another U.S. rate cut and signalling that the economy was in the pink. The dollar slipped against the euro, pulling further away from a two-week high on the possibility of further interest rate cuts. Both the Dow <.DJI> and wider S&P 500 index <.SPX> posted record closing highs, while the tech-heavy Nasdaq Composite Index <.IXIC> advanced 0.6 percent. "There is a lot of relief at the moment," said Simon Doyle, head of strategy at Schroder Investment Management. "The data in the U.S., most recently the payroll numbers, were better than people thought and the interpretation of the market is that the U.S. economy is holding up better than some had feared." Tokyo's Nikkei <.N225> rose 0.4 percent, with exporters such as Honda Motor Co Ltd <7267.T> higher on a softer yen and after the rally in U.S. shares. By 0105 GMT, MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> rose 0.6 percent, building on Tuesday's gain of 0.8 percent that sent the index to a record close. Australia's S&P ASX 200 <.AXJO> gained 0.4 percent to hit a third consecutive intraday record as resources stocks, such as BHP Billiton Ltd Seoul shares <.KS11> rose to another record, as LG.Philips LCD surged on strong quarterly results, while other exporters rose after Fed news. Singapore's Straits Times <.STI> rose nearly 1 percent to a life-time high, but Taiwan shares <.TWII> fell 0.8 percent. DOLLAR, YEN SEEN SOLD Traders said the U.S. dollar would stay weak even after strong U.S. jobs data released late last week scaled back some expectations for a Fed rate cut this month, as demand grows for riskier trades favouring higher-yielding currencies. They said Wall Street's rally was likely to trigger selling in the low-yielding yen for assets denominated in higher-yielding currencies. "It looks like selling in both the dollar and the yen is starting to pick up again," said Hiroshi Yoshida, a forex trader at Shinkin Central Bank. The euro edged up to the day's high around $1.4120 The dollar Oil Gold Japanese government bonds slipped on Wednesday, taking their cues from a slide in U.S. Treasuries the previous session and a firm stock market. December 10-year futures fell 0.25 point to 134.28 <2JGBv1>, nearing the two-month low of 134.14 hit on Tuesday. The benchmark 10-year yield |
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mirage
Veteran |
10-Oct-2007 08:58
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Quotes: Singapore shares closed higher Tuesday with the benchmark index ending at a record, lifted by gains in select blue chips led by banking stocks. The broader market came under pressure as investors locked in gains following the Straits Times Index's (STI) recent meteoric rise and after Wall Street's lacklustre performance overnight. "Trading activities are quieter and the focus is on blue chips," said Chan Tuck Sing, head of dealing at UOB Kay Hian. Chan said some of the blue chips are running up on expectations of good earnings, while others are playing catch up on the index's recent gains. "There is a little bit of catching up from the banks now that the subprime issues seem to be moderating," he said. The STI added 45.44 points or 1.2 percent to close at the day's high of 3,865.75. The index traded as low as 3,813.87 during the session. But losers outnumbered gainers 411 to 393, with 907 shares unchanged. There were 3.0 billion shares traded worth 2.4 billion Singapore dollars. Chan said the STI may continue to trend higher given that some of the component stocks have not reached record levels since the index's sharp correction in August, while the STI has surged to new highs. "At this point in time, all things being equal, the index may go higher with some of the catching up from some of the laggard index component stocks," he said. Investors are also accumulating blue chips given Singapore's accelerated economic expansion. The Ministry of Trade and Industry will release its advance estimate of third quarter GDP growth with most economists predicting a 9-10 percent expansion against the second quarter's 8.6 percent. "Some UK investors were more positive about Singapore and felt that there could be upside earnings surprises in 2008 given the buoyant economy," said Citigroup research head Lim Jit Soon in a note to clients. Banking shares were higher, with DBS Group Holdings up 10 cents at 22.60 Singapore dollars, United Overseas Bank up 30 cents at 22.70 dollars, and Oversea Chinese Banking Corp up 5 cents at 9.35 dollars. Among other blue chips, Singapore Telecommunications added 14 cents to 4.14 dollars and Singapore Petroleum Co rose 25 cents to 8.00 dollars. Media conglomerate Singapore Press Holdings climbed 4 cents to 4.48 dollars as it is expected to post better year to August earnings than the 428.46 million Singapore dollars it made in 2006. Hyflux Ltd advanced 20 cents to 3.28 dollars after announcing a tie-up with energy giant BP International Ltd and the Dalian Institute of Chemical Physics (DICP) to develop and commercialise zeolite dewatering membranes for use in biofuel production. Olam International was 12 cents higher at 3.28 dollars on news it will invest in a new soluble coffee manufacturing facility in Vietnam as it moves into a higher value-added activity in its coffee supply business. Offshore and marine plays also rose amid a robust industry backdrop. Keppel Corp was up 40 cents at 15.00 dollars, COSCO Corp Singapore was up 15 cents at 6.65 dollars, and SembCorp Marine was up 5 cents at 5.40 dollars. Shipping plays continued to gain on strong freight rates and robust global demand for commodities such as iron ore and coal. South Korea-based STX Pan Ocean gained 14 cents to 3.30 dollars, while China-based shipbuilder Yangzijiang Shipbuilding added 6 cents to 2.66 dollars. Yangzijiang is also among three Chinese stocks that will be included in the newly revamped Straits Times index, comprising 30 component stocks. The bourse will begin using the new index in January. Property stocks were mixed, with CapitaLand up 5 Singapore cents at 8.35 dollars and City Developments up 30 cents at 16.40 dollars, but Keppel Land fell 5 cents to 8.55 dollars and Allgreen slipped 2 cents to 1.88 dollars. Bourse operator Singapore Exchange lost 10 Singapore cents to 16.30 dollars on profit-taking after CIMB-GK Research lowered its rating on the company to "underperform" from "outperform," citing limited upside. |
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mirage
Veteran |
09-Oct-2007 15:59
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QUOTES: Stock markets across Asia were mixed Tuesday with Japan gaining as a softer yen boosted big export stocks, while Taiwan and the Philippines were stuck in the red as investors locked in gains on the recent rally. Hong Kong and South Korea floundered early in the day but later clawed their way back. The Korean benchmark, the KOSPI, closed at a fresh record, joining the main Australian indexes. The Nikkei 225 closed up 0.6 percent at 17,159, while the broader Topix added 0.2 percent to 1,660. The Japanese market was closed Monday for a public holiday, so investors were only today responding to the better-than-expected US September jobs report. "Investors sense that the worst period of the credit squeeze is over after the US jobs data last week," said Hideo Mizutani, chief strategist at Sieg Securities. With those worries set aside, " the tolerance for risk toward Japanese shares has increased." The Hang Seng was volatile, falling more than 200 points at its worst level before recovering midsession. Investors took their cue from the weak performance by the major US indexes overnight. The strength of the US jobs report has had the side-effect of dampening speculation that the Federal Reserve will cut rates again at its Oct meeting, making investors wary that the rally of the past month may have run its course. "The downside risks are still high," said Daniel Chan, senior investment strategist at DBS Bank in Hong Kong. "Everyone is watching the US Fed." In Sydney, the S&P/ASX 200 closed up 0.4 percent at 6,677, while the All Ordinaries rose 0.3 percent to 6,687, as gains in the banking sector offset weakness in commodity stocks. Oil prices held below 80 dollars a barrel on expectations of rising supply. The Dow Jones Industrial Average lost about 22 points overnight as investors braced for the start of the third-quarter earnings season. Aluminum giant Alcoa unofficially kicks off the US season later today. Earnings spotlight In Seoul, liquid crystal display maker LG Philips LCD launched the Korean third-quarter season after the market close. The company reported operating profit of 693 billion won, topping analyst forecasts for 550 billion won and marking its best quarterly result since the second quarter of 2004. Its shares closed down 1,000 won, or 2.2 percent, to 44,950, ahead of the report. LG Electronics finished up 2,100 won, or 2.3 percent, at 92,800. In Tokyo, Japan's leading department store operator Takashimaya reported earnings for the first half through August, with operating profit up 11.4 percent from a year earlier as the company cut costs in a difficult business environment. The company posted an operating profit of 16.52 billion yen for the first half to August, up from 14.82 billion a year earlier. Revenue fell 1.5 percent to 504.60 billion yen. "While sales stagnated amid unstable weather conditions during the early summer, past cost-cutting efforts helped improve profit margins, allowing us to report an all-time high operating profit for the first half," Takashimaya president Koji Suzuki said at a press conference. Shares closed down 4 yen, or 0.3 percent, at 1,288 yen. Toshiba Corp finished up 9 yen, or 0.9 percent, at 1,070 yen after a newspaper reported that the electronics giant plans to start mass producing 30-nanometer flash memory chips by the middle of fiscal 2009, a move that will put Toshiba ahead of South Korean rival Samsung Electronics Co in the race to adopt narrower circuit widths. In Hong Kong, shares of PetroChina Co Ltd rebounded from early lows posted after US tycoon Warren Buffett's Berkshire Hathaway Inc sold another 66.61 million shares, reducing its stake in Asia's biggest oil company to 6.97 percent. PetroChina, the listed arm of China National Petroleum Corp, was last up 14 cents, or 1 percent, at 14.24 Hong Kong dollars. "It's usually news whenever Buffett sells his shares. This is of course not the first time," said Conita Hung, research at Delta Asia Securities. Buffett is the chief executive of Berkshire Hathaway, in which he holds the controlling stake. Berkshire Hathaway has been unloading shares in PetroChina amid calls for US investors to cut their exposure in the company because of its links to Sudan. The US government has accused Sudan of supporting genocide. China Shenhua Energy Co lost 1 dollar, or 2.3 percent at 44.80 dollars. The mainland's biggest coal producer started trading in Shanghai today after last week completing a 66 billion yuan initial public offering, the biggest IPO in China to date. Industrial and Commercial Bank of China Ltd (ICBC) gained 3 cents to 6.29 dollars, buoyed by media reports that the government signed an agreement with Dubai regulators that would pave the way for mainland lenders to invest in Dubai's stock market. ICBC is China's biggest bank by assets. Elsewhere, the Singapore Straits Times index was up 0.6 percent at 3,845, the Kuala Lumpur Composite was down 0.04 percent at 1,363 and the Thai SET was up 0.2 percent at 864. The Philippines Composite closed down 2.5 percent to 3,777, led by index leader Philippine Long Distance Telephone Co, as the market took a breather after a six-day rally that brought the main index to a new record on Monday. "No sector was spared as the market corrected the excessive exuberance in the last couple of trading sessions when we were outperforming other markets in the region," said Jose Vistan Jr, research director of AB Capital Securities. The Shanghai Composite edged up 0.4 percent to 5,715 and the Taiwanese Taiex fell 1 percent to 9,622. |
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Pinnacle
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08-Oct-2007 18:35
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Oct 8 (Reuters) - Singapore shares hit an all-time high on Monday as hopes of strong earnings pushed Singapore Exchange In Singapore, the key Straits Times Index <.STI> jumped as much as 1.6 percent in early trade to an all-time high of 3,883.34 points, before shedding gains to end marginally lower, down 0.06 percent. Elsewhere, Indonesian stocks <.JKSE> added 0.9 percent, while Philippine shares <.PSI> also hit an all-time high after jumping 2.6 percent, led by a 5.3 percent rise in its largest telecoms company, Philippine Long Distance Telephone Co. The Philippine peso hit a seven-year high on Monday as investors sought high-yielding assets, prompting the central bank to intervene. [ID:nSP65700] Thai shares <.SETI> climbed 1.3 percent, the Vietnam stock index <.VNI> rose 0.3 percent, while Malaysian stocks <.KLSE> fell 0.6 percent. Gains in Singapore were led by Singapore Exchange, Asia's second-largest listed bourse, which is set to report its first-quarter earnings on Tuesday. "The depth and breadth of SGX's product offerings...should provide significant upside-revenue support," CLSA analyst Thilan Wickramasinghe said in a note on Monday. SGX jumped 6.5 percent to a record close of S$16.40. Wickramasinghe said he expected SGX's compound annual growth rate to hit 27 percent in the next three years, adding that "few peers could offer a similar growth profile". Shares in SGX have almost tripled since January, eclipsing the 28-percent gain in the benchmark STI. In Jakarta, banking stocks led gains as investors bet on more interest rate cuts this year even though the central bank left its key interest rate steady on Monday at 8.25 percent, in line with expectations after annual inflation in September picked up to its fastest pace in a year. [ID:nJAK6831] "The central bank still has room to cut rates by 25 basis points by the end of the year," Ferry Wong, the research head at BNP Paribas Peregrine, said. Wong said he liked PT Bank Mandiri Tbk Bank Mandiri jumped 6.2 percent to a record high and Bank Negara added 3.6 percent. PT Bank Rakyat Indonesia Tbk Mandiri trades at 2.9 times its price-to-book value, compared to 2.2 times for Bank Negara, Reuters data showed. In comparison, Singapore's DBS Group |
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Pinnacle
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08-Oct-2007 15:52
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After the morning and early afternoon record breaking bullish run, it looks to be closing flat. What a big swing. |
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Pinnacle
Master |
08-Oct-2007 15:21
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QDII and Singapore-listed China stocks (S-shares) On 28 September, Dow Jones reported about the approval of a new Qualified Domestic Institutional Investors (QDII) fund for investment in companies listed in Hong Kong, US and Singapore with at least 50% revenue and profit from China. S-shares got a re-rating almost instantaneously and rose 30-40% for the next few days. While most stocks have experienced some corrections during the week, prices are still 20- 30% higher than before the re-rating. Although Singapore-listed China stocks are still trading at a discount to their peers listed in Hong Kong and China, the discount is warranted in most cases as the SGX stocks are often smaller companies with short operating history. We advise investors to be more discerning as the quality the China stocks is quite varied. We like stocks with larger market capitalisation (more than S$1b) with brokers? coverage and sufficient trading liquidity as they are likely to attract institutional money. Large cap S-shares under our coverage Mkt Cap (S$m) 04 Oct 07 Cosco 14,541.6 SYNEAR 3,107.5 CHINA HONGXING 2,461.0 CHINA SKY 1,983.5 DELONG 1,904.4 FIBRECHEM 1,634.9 PINE AGRITECH 1,590.0 PEOPLE'S FOOD 1,571.2 SINO TECHFIBRE 1,404.3 CHINA XLX 1,380.0 SINO-ENV 1,204.9 FERROCHINA 1,168.8 JIUTIAN CHEMICAL 1,041.6 EPURE 1,010.5 CHINA MILK 1,004.5 |
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Pinnacle
Master |
08-Oct-2007 15:11
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POLL-Singapore Q3 GDP to slow but still strong; policy on hold * What: Singapore Q3 advance GDP; monetary policy announcement * When: Wednesday, Oct. 10 at 8 a.m. (0000 GMT) * Annualised Q3 growth forecast to slow to 7.5 percent after exceptionally strong second quarter; monetary policy unchanged. SINGAPORE, Oct 8 (Reuters) - Singapore's monetary policy will probably be left unchanged this week despite higher inflation, while annualised third-quarter economic growth is likely to be strong, if just half that in the unusually strong second quarter. A Reuters poll of 11 economists forecast that the advance estimate would show gross domestic product expanded by an annualised, seasonally adjusted 7.5 percent in the three months to end-September after 14.4 percent in the second quarter. Economists stressed that this was a return to a more normal rate rather than anything more worrying. They said the economy was still profiting from strong growth in services, particularly banking, and construction, and noted that manufacturing output expanded by 22.1 percent and 13.8 percent respectively in July and August from a year earlier due to strong biomedical and transport industries. From a year earlier, the $129 billion economy was expected to have grown 9.6 percent, the median of 10 economists' forecasts showed. The government has forecast 7-8 percent growth this year. All 11 economists expected the Monetary Authority of Singapore (MAS), the central bank, to stick to its three-and-a-half-year-old modestly tight policy even though a recent pick-up in consumer prices took inflation to a 12-year high of 2.9 percent in August. The MAS conducts policy through the exchange rate, steering the Singapore dollar "The subprime crisis and tighter global credit conditions have had a limited economic impact so far," Citigroup economist Chua Hak Bin said. But he said the probability of tighter policy next year had increased because of rising consumer prices and risks that Singapore's economy could overheat after four years of above-trend growth. Economists polled by Reuters last month forecast the economy would grow 7.5 percent this year after 7.9 percent last year. "Lower Singapore dollar interest rates, following Fed rate cuts, could paradoxically exacerbate demand pressures," Chua said. Economists agree that inflation is likely to be fanned by a tight labour market and rising rents on the back of a buoyant residential and office property market. In addition, the government raised the sales tax to 7 percent from 5 percent from July 1 in a move to redistribute wealth and address income disparities in the country of 4.7 million. "While lower import prices from a strong Singapore dollar and a flexible labour market have helped dampen price pressures in 2006-2007, consumer prices appear to have caught up with the strong economy in recent months," said Yeo Han Sia, an economist at Bank of America. Forecasts for Singapore advance Q3 GDP (percent): Change over Annualised rate year earlier (seasonally adjusted) Action Economics 10.0 8.8 ATR 7.7 n/a CIMB 10.0 9.0 Citigroup 10.9 8.5 DBS Bank 9.3 6.2 Forecast Ltd. 7.5 -0.3 HSBC 9.6 7.4 ING Financial Markets 9.6 7.6 OCBC 8.4 3.0 Standard Chartered 7.1 -2.2 Thomson Financial 9.7 7.8 Median 9.6 7.5 Low 7.1 -2.2 High 10.9 9.0 |
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08-Oct-2007 15:08
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Indexed Stocks covered by Credit Suisse Companies Mentioned (Price as of 05 Oct 07) Singapore Telecom (ST SP, S$4.02, NEUTRAL, TP S$3.69) DBS Group (DBS SP, S$22.50, OUTPERFORM, TP S$28.00) United Overseas Bank (UOB SP, S$22.40, OUTPERFORM, TP S$28.00) Oversea-Chinese Banking Corporation (OCBC SP, S$9.30, OUTPERFORM, TP S$10.80) Jardine Strategic (JS SP, $15.90, NOT RATED) Wilmar International Ltd (WIL SP, S$3.84, NEUTRAL, TP S$3.30) Keppel Corporation (KEP SP, S$15.10, UNDERPERFORM, TP S$7.81) Capitaland (CAPL SP, S$8.40, UNDERPERFORM, TP S$5.78) Singapore Airlines (SIA SP, S$19.60, OUTPERFORM, TP S$25.00) Singapore Exchange Limited (SGX SP, S$15.40, UNDERPERFORM, TP S$9.04) City Developments (CIT SP, S$16.50, UNDERPERFORM, TP S$13.10) Hongkong Land Holdings (HKL SP, $4.40, OUTPERFORM, TP $5.00) Cosco Corp (Singapore) Ltd (COS SP, S$6.50, NOT RATED) SembCorp Industries Limited (SCI SP, S$6.60, OUTPERFORM, TP S$6.54) ST Engineering (STE SP, S$3.90, NEUTRAL, TP S$3.52) SembCorp Marine Ltd. (SMM SP, S$5.40, OUTPERFORM, TP S$4.71) Fraser & Neave (FNN SP, S$5.95, NOT RATED) Yangzijiang Shipbldg (YZJ SP, S$2.43, NOT RATED) Neptune Orient Lines (NOL SP, S$5.10, OUTPERFORM [V], TP S$5.70) Yanlord Land Group Limited (YLLG SP, S$4.12, NOT RATED) Singapore Press Holdings (SPH SP, S$4.38, OUTPERFORM, TP S$5.14) Genting Int'l Public Ltd Co (GIL SP, S$0.71, NOT RATED) Jardine Cycle & Carriage Ltd (JCNC SP, S$19.50, NOT RATED) Thai Beverage Pcl (THBEV SP, S$.26, UNDERPERFORM, TP S$.24) Keppel Land (KPLD SP, S$8.60, OUTPERFORM, TP S$8.68) CapitaMall Trust (CT SP, S$3.86, NEUTRAL, TP S$3.08) Noble Group Limited (NOBL SP, S$2.15, NOT RATED) StarHub Ltd (STH SP, S$3.06, UNDERPERFORM, TP S$2.92) Sia Engineering Co Ltd (SIE SP, S$4.80, NOT RATED) Olam (OLAM SP, S$3.16, OUTPERFORM, TP S$3.80) Jardine Matheson Hldgs Ltd (JM SP, US$29.00, NOT RATED) Total Access Communications (DTAC SP, $1.31, NOT RATED) Venture Corporation (VMS SP, S$16.00, NEUTRAL, TP S$17.30) UOL Group Limited (UOL SP, S$5.35, NOT RATED) ComfortDelGro (CD SP, S$1.97, OUTPERFORM, TP S$2.80) CapitaCommercial Trust (CCT SP, S$2.80, UNDERPERFORM, TP S$2.35) Singapore Petroleum Co Ltd (SPC SP, S$7.40, NOT RATED) Ascendas Real Estate Investment Trust (AREIT SP, S$2.59, NEUTRAL, TP S$2.65) Parkway Hldgs Ltd (PWAY SP, S$4.42, NOT RATED) Allgreen Properties (AG SP, S$1.91, UNDERPERFORM, TP S$1.37) Suntec REIT (SUN SP, S$1.92, NEUTRAL, TP S$1.81) Wing Tai Holdings (WINGT SP, S$3.80, NEUTRAL, TP S$2.42) Chartered Semiconductor Manufacturing, Ltd. (CSM SP, S$1.02, NEUTRAL, TP S$1.50) Singapore Post Ltd (SPOST SP, S$1.23, NEUTRAL, TP S$1.22) Labroy Marine Ltd (LBRY SP, S$2.48, NOT RATED) MobileOne Ltd (M1 SP, S$2.13, NEUTRAL, TP S$2.40) UTAC (UTAC SP, S$1.18, NEUTRAL, TP S$1.20) People's Food Holdings Ltd (PFH SP, S$1.39, UNDERPERFORM, TP S$.97) Hyflux Ltd (HYF SP, S$2.99, OUTPERFORM, TP S$4.00) Datacraft Asia (DAT SP, $1.21, NEUTRAL, TP $1.35) Creative Technology (CREAF SP, S$6.15, NEUTRAL, TP S$7.00) Jurong Tech (JTL SP, S$.72, OUTPERFORM, TP S$1.00) STX Pan Ocean (STX SP, S$2.93, OUTPERFORM, TP S$3.10) GuocoLand Ltd (GUOL SP, S$5.70, NOT RATED) Singapore Land (SL SP, S$10.40, NOT RATED) United Industrial Corporation (UIC SP, S$3.06, NOT RATED) Mandarin Oriental Intl Ltd (MAND SP, US$2.43, NOT RATED) STATS ChipPAC (STAT SP, S$1.61, OUTPERFORM, TP S$1.66) Wheelock Properties (S) Ltd. (WP SP, S$2.71, NEUTRAL, TP S$2.76) Synear Food Holdings Limited (SYNF SP, S$2.28, NOT RATED) Gallant Venture Ltd (GALV SP, S$1.28, NOT RATED) Singapore Airport Terminal Services (SATS SP, S$2.80, NOT RATED) Raffles Education (RLS SP, S$2.43, OUTPERFORM [V], TP S$3.45) SMRT (MRT SP, S$1.74, NEUTRAL, TP S$1.95) Ascott Group Limited (THE) (SCOT SP, S$1.61, NOT RATED) Keppel Tele & Tran (KPTT SP, S$4.56, NOT RATED) China Hongxing Sports Limited (CHHS SP, S$1.15, OUTPERFORM [V], TP S$1.17) Hotel Properties (HPL SP, S$4.68, NOT RATED) China Energy Limited (CEGY SP, S$1.64, NOT RATED) China Aviation Oil(S) Corp Ltd (CAO SP, S$2.84, NOT RATED) China Sky Chemical Fibre Co (CSCF SP, S$2.48, OUTPERFORM [V], TP S$2.63) Cdl Hospitality Trusts (CDREIT SP, S$2.38, NOT RATED) Ezra Holdings Limited (EZRA SP, S$6.35, NOT RATED) Delong Holdings Limited (DLNG SP, S$3.44, NOT RATED) Indofood Agri Resources Ltd (IFAR SP, S$1.33, OUTPERFORM [V], TP S$1.65) Straits Asia Resources Limited (SAR SP, S$1.94, NEUTRAL [V], TP S$1.40) Hong Leong Finance Ltd. (HLF SP, S$3.86, NEUTRAL, TP S$4.20) Haw Par Corporation Ltd (HPAR SP, S$8.25, NOT RATED) Ho Bee Investment Limited (HOBEE SP, S$2.22, NOT RATED) Banyan Tree Holdings Limited (BTH SP, S$2.05, NOT RATED) Jaya Holdings Ltd (JAYA SP, S$2.00, NOT RATED) Straits Trading Co Ltd. (STRTR SP, S$4.60, NOT RATED) Macquarie Int'l Infra Fund Ltd (MIIF SP, S$1.09, NOT RATED) Mapletree Logistics Trust (MLT SP, S$1.22, NOT RATED) Cerebos Pacific (CER SP, S$4.20, NOT RATED) |
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08-Oct-2007 15:03
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Credit Suisse New ST Index constituents announced; no major surprises SPH, SGX and FTSE announced on 5 October the constituents of the revamped Straits Times Index as well as the other 18 new FTSE ST indices. These indices are expected to go live in January 2008. The revamped STI will comprise 30 blue-chip companies on the SGX main board ranked by market cap as at 31 August, which have passed the selection criteria in line with FTSE.s international methodology. Firstly, the free float of a listed company must be greater than 15%. Secondly, a stock must trade with a median daily turnover value of at least 0.05% of the value of its free float-adjusted shares in issue for at least ten of the past 12 months. Not surprisingly, only 26 of the current 48 STI stocks are selected and 4 new names are added. That is, 22 existing STI stocks have been removed from the new index. Also, the entry of Wilmar, SIA Engineering, Yangzijiang and Yanlord are not unexpected, given their top-30 market cap .The excluded names are Allgreen, A-REIT, CapitaCommercial Trust, CSM, ComfortDelgro, Hyflux, Labroy Marine, M1, Parkway, PFood, SPC, SingPost, Suntec REIT, UTAC, UOL, Venture, WingTai Creative, Datacraft, Jurong Tech, Jardine Matheson and TAC. Together, the 30 members of the new STI make up about 55% (as of 5 Oct) of the total market cap of the stocks listed on the SGX main board compared to 60% (as of 5 Oct) for the original STI (and 54% and 49% for the FTSE and MSCI indices, respectively). Similarly, the 18 indices in the FTSE ST Index Series . including the FTSE ST Mid Cap and Small Cap indices . are based on the above free float and liquidity criteria. The FTSE ST Index Series includes 13 industrial and sub-sector indices. In addition, a China-theme index has been created to reflect the increasing significant representation of mainland China stocks in the Singapore market. To qualify for inclusion in any index, the market cap of a stock must fall within the top 98% by full market cap of all SGX Main board stocks. The remaining last 2% of main board stocks by full market cap are included in the FTSE ST Fledgling Index. These stocks are not screened for stock liquidity. The constituents of the STI and the new FTSE ST indices will be reviewed semi-annually. The first review is scheduled for September 2008. Trial values of the revamped STI and the other 18 new indices will be made available from today (8 October). |
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08-Oct-2007 14:48
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Credit Suisse ● SPH, SGX and FTSE announced on 5 October the members of the revamped ST Index as well as the other 18 new FTSE ST indices. These indices are expected to go live in January 2008. ● Largely as expected, just 26 of the 48 stocks in the original STI are in the revised index and 4 names have been added. That is, 22 existing stocks have been removed from the flagship ST index. ● Also, the entry of Wilmar, SIA Engineering, Yangzijiang and Yanlord are not unexpected, given their top-30 market cap. ● Together, the 30 members of the new STI make up about 55% (as of 5 October) of the total market cap of the stocks listed on the SGX mainboard, compared to 60% (as of 5 October) for the original STI (54% for the FTSE, 49% for the MSCI). ● To qualify for inclusion in any index, the market cap of a stock must fall within the top 98% by full market cap of all SGX main board stocks. The remaining last 2% of main board stocks by full market cap are included in the FTSE ST Fledgling Index. These stocks are not screened for stock liquidity. |
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08-Oct-2007 09:49
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Current STI Revamped STI 1 Allgreen Properties Ltd 1 CapitaLand Ltd 2 Ascendas Real Estate Investment Trust 2 CapitaMall Trust 3 CapitaCommercial Trust 3 City Developments Ltd 4 CapitaLand Ltd 4 Cosco Corp Singapore Ltd 5 CapitaMall Trust 5 DBS Group Holdings Ltd 6 Chartered Semiconductor Manufacturing Ltd 6 Fraser and Neave Ltd 7 City Developments Ltd 7 Genting International PLC 8 ComfortDelgro Corp Ltd 8 Hongkong Land Holdings Ltd 9 Cosco Corp Singapore Ltd 9 Jardine Cycle & Carriage Ltd 10 Creative Technology Ltd 10 Jardine Strategic Holdings Ltd 11 Datacraft Asia Ltd 11 Keppel Corp Ltd 12 DBS Group Holdings Ltd 12 Keppel Land Ltd 13 Fraser and Neave Ltd 13 Neptune Orient Lines Ltd 14 Genting International PLC 14 Noble Group Ltd 15 Hongkong Land Holdings Ltd 15 Olam International Ltd 16 Hyflux Ltd 16 Oversea-Chinese Banking Corp 17 Jardine Cycle & Carriage Ltd 17 SembCorp Industries Ltd 18 Jardine Matheson Holdings Ltd 18 SembCorp Marine Ltd 19 Jardine Strategic Holdings Ltd 19 Singapore Airlines Ltd 20 Jurong Technologies Industrial Corp Ltd 20 Singapore Exchange Ltd 21 Keppel Corp Ltd 21 Singapore Press Holdings Ltd 22 Keppel Land Ltd 22 Singapore Technologies Engineering Ltd 23 Labroy Marine Ltd 23 Singapore Telecommunications Ltd 24 MobileOne Ltd 24 StarHub Ltd 25 Neptune Orient Lines Ltd 25 Thai Beverage PCL 26 Noble Group Ltd 26 United Overseas Bank Ltd 27 Olam International Ltd 28 Oversea-Chinese Banking Corp Additions to Revamped STI 29 Parkway Holdings Ltd 30 People's Food Holdings Ltd 1 SIA Engineering 31 SembCorp Industries Ltd 2 Wilmar International 32 SembCorp Marine Ltd 3 Yangzijiang 33 Singapore Airlines Ltd 4 Yanlord 34 Singapore Exchange Ltd 35 Singapore Petroleum Co Ltd Deletions to Revamped STI 36 Singapore Post Ltd 1 Allgreen Properties Ltd 37 Singapore Press Holdings Ltd 2 Ascendas Real Estate Investment Trust 38 Singapore Technologies Engineering Ltd 3 CapitaCommercial Trust 39 Singapore Telecommunications Ltd 4 Chartered Semiconductor Manufacturing Ltd 40 StarHub Ltd 5 ComfortDelgro Corp Ltd 41 Suntec REIT 6 Creative Technology Ltd 42 Thai Beverage PCL 7 Datacraft Asia Ltd 43 Total Access Communication 8 Hyflux Ltd 44 United Overseas Bank Ltd 9 Jardine Matheson Holdings Ltd 45 United Test and Assembly Center Ltd 10 Jurong Technologies Industrial Corp Ltd 46 UOL Group Ltd 11 Labroy Marine Ltd 47 Venture Corp Ltd 12 MobileOne Ltd 48 Wing Tai Holdings Ltd 13 Parkway Holdings Ltd 14 People's Food Holdings Ltd 15 Singapore Petroleum Co Ltd 16 Singapore Post Ltd 17 Suntec REIT 18 Total Access Communication 19 United Test and Assembly Center Ltd 20 UOL Group Ltd 21 Venture Corp Ltd 22 Wing Tai Holdings Ltd |
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