Straits Times Index   

STI to cross 3000 boosted by long-term investors

slowly and steadily dropping....

 

STI seems to be free falling....

 

Does this below US data mean that less funds are flowing into US market?

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Yup, SQ gal .... And expect huge profit taking too on last trading day before CNY holiday.

Let's see what's US market is up to tonite when Ben talks again.

 

Haha... somehow gut feel told me that there will be a rally today.

But I think there will be a correction tommorow. As always, any big price movement will usually be followed closely by a correction the next day.

 

HONG KONG (MarketWatch) -- Japanese shares ended at their highest level in almost seven years as retailer Seven & I Holdings and other domestic-focused shares advanced after data showed the economy expanded for the eighth consecutive quarter.

Markets across the region were higher, led by record closings in Singapore, Australia and China. Thai shares missed the regional rally.

The Nikkei 225 Index ended 0.8% higher, rising 144.59 points to 17,897.23, its highest level since May 2000. The Topix index rose 11.40 points, or 0.7%, to 1,776.71.

Gains followed Federal Reserve Chairman Ben Bernanke's comments before Congress Wednesday to the effect he's comfortable with current interest rate levels and believes inflationary pressures are on easing. The comments helped lift the Dow Jones Industrial Average to a record close of 12,741.86.

Japanese stocks advanced as government data showed the economy expanded 4.8% on an annualized basis in the quarter ended Dec. 31. Compared with the preceding quarter, the economy expanded 1.2%, the data showed.

Economists had expected a 3.8% annualized rise, and a 0.9% quarterly increase. For 2006, Japan's economy grew 2.2%, its seventh straight year of expansion. Consumer spending, meanwhile, rose 1.1% on quarter, reversing a 1.1% drop in the July-to-September quarter.

"Japan's domestic demand is more robust than expected," said Takuji Aida, chief economist at Barclays Capital in Tokyo. "The economy grew about 2% in the second half; that should help Japan's stock market because it shows economic growth could go on much longer than expected without overheating."

Around the region, Australia's S&P/ASX 200 added 0.5% to end at a record 5,992.80. Shares of Telstra Corp. added 3.9% after Australia's dominant phone company reported a narrower-than-expected decline in first-half net profit.

Singapore's Straits Times Index rose 1.5% to end at a closing and intraday record of 3,252.49. In China, Shanghai's Composite Index jumped 3% to a record 2,993.01.

Analysts said the China gains followed signs stock market regulators will not take firm action to cool the market. Officials began approving new mutual funds earlier this month following a two-month freeze.

South Korea's Kospi index added 0.5% and Taiwan's Weighted Price Index firmed 0.9%. Indonesia's JSX Composite gained 2.3%, Thailand's SET Index fell 0.6% and India's Bombay Sensex was up 2.5%. New Zealand's NZSX-50 added 0.3%.

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Singapore Budget Highlights 2007, extracted from Asia1 online:



ECONOMIC OUTLOOK
The outlook for 2007 is positive. Globally, the major economies are doing well. Singapore's economy will continue to do well in 2007 and grow between 4.5 per cent and 6.5 per cent.

"Our investment pipeline is strong. The external picture is also positive." -Second Finance Minister Tharman Shanmugaratnam

WORKFARE BENEFITS
Will be extended to those 35 years and above, who earn $1,500 or less per month - partly in cash and partly in CPF.

CPF CONTRIBUTION
Employers' contribution to go up by 1.5% to 14.5% from July 1, 2007 of this, 0.5% will go to Medisave and the rest to ordinary account

MAKEOVER OF PUBLIC HOUSING ESTATES
- total urban regeneration of HDB estates
- Government to spend S$1 billion a year to rejuvenate public housing estates
- $20 billion to improve land transport system over next 10 years

BUILDING CAPABILITIES
- 3% increase in R&D annually
- Injection of another $500 million to the National Research Fund

CHARITIES
- Removal of 80-20 spending rule for registered charities
- Grant automatic income tax exemption for donations to registered charities

CONSTRUCTION SECTOR
Construction sector is set to expand even further, with S$17 to 19 billion worth of contracts expected to be awarded in 2007

LIFELONG EDUCATION
- Triple expenditure in life-long learning
- Top-up for Post Secondary Education Account
- Increase investment in life-long learning
- 80 % subsidy for post-diploma courses

BUDGET
Singapore reported a smaller budget deficit of S$1.3 billion in 2006/07, against an earlier government forecast deficit of S$2.9 billion.

 

U r welcome, Teeth53 .... Tks for your IPO postings too.

Remember to cash out our 'Ang Pao' timely ya, guys.

 

Hi billywows,

Thk Q for DOW posting, DOWup instead of DOWn. STI 3.2k lai liao and a new high going forward, senting the hedged  funds for today the wrong way memm....... another Angpao after CNY lai lohh.....for everybody.

 

US market rallying again tonite .... And with our Budget Day tomorrow too at 1520hrs, STI will move back above 3.2k mark effortless. Maybe a new record for all we know!!!!!!!!!!

 

Today ST Index continue it climb by certain index stocks, posted a gain of 33.05 pt to STI 3,182.21 pt. However some stocks continue it selling, putting more pressure on selling rather then on buying.., so settle for a weaker mkt due to hedged funds, mkt weak sold down by funds. it is very usual for such...to happened when going is so... good. 

Just my 2 cents worth and my tot. Yahh...

 

STI 3200 seems formidable. GST 2% a bit hard to swallow -have to get help from I SWALLOW advertiser.

 

Just talked to my broker on Monday.  He said to be cautious as the STI is presently too high and may drop after Budget Day tomorrow.  After CNY, it may drop further.  So buyers beware.  Trade cautiously.

 

The sentiment pre lunar new year 2007 has changed to negative-vastly different from 2006

 

Although the STI is up, the overall market seems rather jittery, especially if we look at the performance of indiviadual stocks in the last few days.

Somehow the delayed effects of the devastating floods, fowl flu, banned sand... etc, seem to be looming. The correction seems to be here already.

But Korea is bright news, though.

 

The STI is in a trading range with resistance at around 3200 and support at 3000. The small caps are deteriorating first. The status of genting is still uncertain.

 

The trading volume is quite light today.

Now only 800K shares traded. It will probably continue like this until after CNY.

 

Singapore lifts 2007 growth target to 4.5 - 6.5%

more news from Asia1 online http://news.asiaone.com/a1news/20070214_story2_1.html

hope trading sentiments can be improved after 2pm....

 

STI losing steam already after opening very high?