STI up 1.53% to close at 3494

STI is surprisingly resilient against whatever US side is doing nowadays. Good sign or bad sign? I don't know. STI just keeps powering up and up. Even when China announced that its inflation reached sky high and that trade surplus is at all time high, STI droppped a little and went up further.

In the end, Shanghai dropped 4.51%, HK was affected slightly by droppign 0.20%, while STI was up 52.70 pts (up 1.53%) to close at 3494 with a volume of 2.8 billion (higher than yst's 2.5 billion).

Today we saw pennies having sort of a revival. Constrution had a brief rally also, before closing neutral/slighly higher. Wilmar had a field day today, supposedly after Goldman sachs upgraded its target price from 4.20 to 4.60. It went up 0.220 with intraday high of 3.480. Damn, always wanted to get wilmar, but somehow didn't get it.

Quite a couple of announcements to share:

1. Tiong Woon got its first contract of S$64.8 million on shipbuilding and signals the start of its shipbuilding expansion plans. The contract is to construct a derrick pipelya barge scheduled for delivery in Dec 08. This stock breaks my heart...I had it when it was 0.375, sold it at a loss of 0.270 and now the price is 1.040. Tmr it should gap up higher because of this significant contract announcement.

2. Bus fares are goin up by 1 to 2 cts starting on 1st Oct. SMRT trains remain the same. Right, this is what happens when a public service is run as a corporation with profits first. Blah blah blah...maybe should look into SMRT as my transportation hedge. Buying some SMRT shares would hedge the forever ongoing price hikes. Pays good dividend too, steady and slow :P Check it out!

3. Swissco placed a S$15 million order for 2 more offshore support vessels. Haha, seems like offshore marine oil sector is booming like crazy. Swiber expanded its fleet aggressively, Swissco too. Even Tiong woon wants a piece of the pie with barge building. I'm sufficiently exposed to this sector with my stake in Swiber, so I wouldn't want to go into Swissco. Cheaper than swiber though, haha :)

Looks like Europe and Dow is taking the lead from Asian bourses. Europe is ALL green (around 1% up) while Dow is currently at 100 pts up. Volatile trading session for Dow and anything goes these few session until 18th Sept. So got rate cut or not? :)