Wednesday, January 23, 2008

HSI up 2332 pts (10.72%)!!

STI rebounded a lot today, on news that fed had cut interest rate by 75 basis pt. STI went up 4.08%, HSI went up 2332 pts (10.72%). Haha, 10.72%!! I've never seen that kind of magnitude before...just imagine.

A few news to announce:

1. Cosco won more contracts, totalling US$422 million. This one is really a contract clincher. Every few months also got contracts. At the current $4.20, is it overvalued still? haha, don't know...never did find out.

2. China allows domestic banks to invest in singapore. Could this be the prelude for the QDII funds? But it didn't say when they can start investing. Anway, this could be the catalyst for the rebound of s-shares again tmr. Who knows...

Dow now at -115 pts. Let's see how it closes.