The world market cheong until I don't know what to say man. Missed so much action, haha :P My stocks have been doing very well too, so today it's time to chart out the progress to see where it'll go next. I'm totally out of touch with global news, so it'll just be from charts.
Among the stocks I checked, I'm very bullish with swiber. I saw on tv mobile on the way back that STI components are going to be changed. I am suspecting a few new powerhouse additions - wilmar, cosco, perhaps swiber too? Haha, if any of my holdings are selected to be in the new sti components, sure cheong because it'll be more exposed to investors (esp those with big funds).
With this week's big rally, my portfolio once again broke even :) Every time I broke even, I learnt something new. Perhaps one of these days when I'm a bit more free, I'll reflect upon all that had happened again. Too tired now :) Finally, my profit stands at 3k :P
Have a great week ahead!
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Singapore shares close up 1.6 percent at another record high
Posted: 11 October 2007 1753 hrs
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SINGAPORE: Singapore share prices closed 1.6 per cent higher Thursday with the benchmark returning to record highs on blue-chip buying amid strong economic growth, dealers said.
The Straits Times Index closed up 61.32 points at 3,875.77, beating the previous all-time peak of 3,865.75 reached on Tuesday.
Volume totalled 2.81 billion shares valued at S$2.76 billion. There were 563 rising issues, 267 stocks declined and 828 were unchanged.
Index heavyweight Singapore Telecommunications (SingTel) and banking shares led the gains on expectations their results in the three months to September will be healthy.
Morgan Stanley regional strategist Malcolm Wood said the benchmark index will likely cross 4,000 points before the year ends, given the strength of capital flows.
"We're seeing good inflows from international investors into the region. That's not unusual in the fourth quarter, but underlying that is Singapore has got good fundamentals," he said.
Asian growth and prospects of further US interest rate cuts will continue to boost sentiment in regional equity markets, said Michael Kerley, director of pan-Asian equities at Henderson Global Investors.
"It's pretty certain that the US will slow down and that will take some momentum off global growth, but Asia will remain resilient," Kerley said.
In the banking sector, DBS Group gained 20 cents to $22.50, United Overseas
Bank rose 40 cents to $22.70 and Oversea-Chinese Banking Corp added 10 cents to
$9.30.
Singapore telecom companies also rose due to strong demand for mobile phones.
SingTel gained 10 cents to $4.14, while MobileOne added one cent to $2.13. StarHub gave up early gains to close flat at $3.10.
Singapore shipyards also gained, driven by demand for oil rigs and other vessels.
Labroy Marine was up 22 cents at $2.74, Keppel Corp advanced 20 cents to $15.00 and SembCorp Marine rose 10 cents to $5.35.
Cosco Corp Singapore, a shipping company that owns majority of unlisted Chinese shipyard Cosco Shipyard Group, added 45 cents to $6.90 and China-based Yangzijiang Shipbuilding gained eight cents to $2.69.
Bourse operator Singapore Exchange rose 20 cents to $15.80. Earlier in the week, it reported a 172 per cent increase in first-quarter net profit on strong
trading volumes.
Publisher Singapore Press Holdings, which will announce results for the
year to August on Friday, added four cents to S4.50.
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