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Latest Posts By WanSiTong
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| 12-Jan-2017 09:04 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Tokyo: Stocks open lower   Tokyo stocks opened lower Thursday as the yen strengthened against the US dollar after US president-elect Donald Trump gave no details on his stimulus plans at a closely watched news conference. Asian Indexes
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| 12-Jan-2017 07:10 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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  Nasdaq notches record closing high despite health care weakness after Trump news conference U.S. equities closed higher in choppy trade on Wednesday, shrugging off a sharp decline in health care stocks following remarks made by President-elect Donald Trump. The Nasdaq composite fell after Trump made his remarks, as the iShares Nasdaq Biotechnology ETF (IBB) fell 3 percent. The tech-heavy index, however, ended the session 0.2 percent higher at a record closing level. Shrugging off a 1 percent decline in health care. Energy stocks led the way in the S & P, rising 1.2 percent. Randy Frederick, vice president of trading and derivatives at Charles Schwab, said the stock market has largely given Trump the benefit of the doubt. He said that would change after the inauguration. " After that point, his actions will become more important versus what he Says, " he said. The Dow Jones industrial average closed about 99 points higher, with Goldman Sachs and IBM contributing the most gains. The blue-chips index briefly turned lower after Trump' s remarks on the pharmaceutical industry. Investors came into the news conference looking for clues about his proposed policies. Stocks in the US have rallied sharply since Trump' s victory, amid hope that the incoming administration will cut corporate taxes, deregulate certain sectors and inject fiscal stimulus into the economy. Trump' s news conference Concluded without him providing details on these policies. " We need some concrete numbers. We have not sold off because there has been been a reason to do so. That said, you' re dealing with some pretty nervous longs here," said JJ Kinahan, chief market strategist at TD Ameritrade . " Our hope is that these three policies will be enacted and a more pragmatic approach will be taken to trade and immigration," said Jon Adams, senior investment strategist at BMO Global Asset Management. He also said he expects Trump to wait until the after the Inauguration to provide more guidance on his policies. Since said, some of the president-elect' s tweets have raised concerns among investors. Since Nov. 8, Trump has taken to Twitter to criticize companies that planned to send jobs overseas than than create them in the United States. He has also threatened to levy A high border tax against those firms. Overseas, European equities traded higher, with the pan-European Stoxx 600 index advancing 0.23 percent. In Asia, Chinese stocks closed lower overnight, with the Shanghai composite dropping 0.79 percent, while the Japanese Nikkei 225 recorded a gain of 0.33 percent. Read more....   |
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| 11-Jan-2017 18:53 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index  3,000.94   -0.17% -5.08 ▼  
  Singapore shares close 0.2% down on Wednesday SINGAPORE stocks finished 0.2 per cent lower on Wednesday, with the Straits Times Index dropping 5.08 points to 3,000.94. The blue-chip index was weighed down ahead of United States president-elect Donald Trump' s first press conference since July, scheduled for late Wednesday night Singapore time. 1.75 billion shares worth S $ 1.19 billion in total changed hands, which worked out to an average unit price of S $ 0.68 per share.   |
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| 11-Jan-2017 09:02 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch QAF, Pacific Radiance, Old Chang Kee, Boustead Projects, Vard, ITE Electric   |
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| 11-Jan-2017 06:59 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Oil slides 2 percent on strong dollar, doubts of OPEC output cuts NEW YORK (Reuters) - Oil prices fell 2 percent on Tuesday to the lowest in nearly a month, extending the previous session' s sell-off as the U.S. dollar strengthened and doubts mounted over whether producing countries would implement a deal to cut output. Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (OPEC) appear to be reducing production, but it was unclear whether other big producers will follow suit. Iraq, OPEC' s No. 2 producer, said it would raise crude exports from its main Basra port to an all-time high in February. The country' s southern oil exports in early January held steady near a record high, despite the agreed start of OPEC cuts , According to an industry source and loading data. Oil prices " are consolidating at the lower levels ... after doubts rising over the degree of compliance with OPEC production cuts as Iraqi exports remain high, as well as the more general pace of market rebalancing," Tim Evans, energy futures specialist at Citigroup Said in a note. " Fresh reports that non-OPEC producers Russia and Kazakhstan have reduced output have produced little price reaction, with the failure to rally on bullish news suggesting that the market is overbought and vulnerable to a further downward correction." Brent crude (LCOc1) settled at $ 53.64 a barrel, down $ 1.30, or 2.4 percent, after hitting the lowest level since Dec. 15 at $ 53.60. US crude futures (CLc1) ended down $ 1.14, or 2.2 percent at $ 50.82 per barrel. Contract touched its lowest since Dec. 16 at $ 50.79. (1) million did not move much after settlement, when industry group the American Petroleum Institute (API) reported a 1.5 million-barrel build in US crude stocks in the week to Jan. 6. Analysts had expected an increase of 1.2 million barrels, and official data From the US government are due Wednesday morning. On Monday, both contracts sank around 4 percent on doubts about global output cuts. The dollar rose (.DXY), pressuring greenback-denominated oil. [USD /] Higher oil futures prices through December encouraging investors to buy large volumes of crude contracts and sliding prices could prompt many of these long positions to be unwound. Rising oil production in North America is also pressuring prices. The U.S. Energy Information Administration sharply raised its forecast for 2017 U.S. crude output growth to 110,000 barrels per day. Last month it forecast a 80,000 bpd decline. The average Canadian rig count for December was 209, up 36 from November and up 49 from a year ago, said Matt Stanley, a fuel broker at Freight Services International in Dubai. " A 30 percent increase in Canadian rigs in a year ... The bear in me is well and truly back," Stanley said.   |
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| 11-Jan-2017 06:56 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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  U.S. equities closed mixed   Health care lifts Nasdaq to new record closing high Street awaits Trump U.S. equities closed mixed after a choppy session on Tuesday, as the Nasdaq composite notched a fresh record high, while investors prepared for a key news conference from the U.S. president-elect. " For the past few weeks, you' re seeing a tug-of-war between bulls and bears," said Adam Sarhan, CEO at 50 Park Investments. " The market continues to wait for a catalyst." The Nasdaq hit a new intraday record and posted a new closing high, as health care stocks rose. The S & P 500 closed unchanged for the first time in nine years, with consumer discretionary leading advancers and real estate lagging. The Dow Jones industrial average fell about 30 points, after briefly flirting with the psychologically important 20,000 mark. " Clearly, the breadth [in the market] has declined," said Maris Ogg, president at Tower Bridge Advisors. " There are some near-term concerns. The near-term concern I have is the rising dollar. Trump is scheduled to hold a news conference Wednesday at 11 a.m. ET. " Investors are going to want to hear what he has to say, and whether he' s changing his tone," said Peter Cardillo, chief market economist at First Standard Financial. Read more.....   |
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| 10-Jan-2017 17:34 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index  3,006.02   0.82% +24.48  ▲  
  STI regains 3,000 mark lost in Nov 2015 THE Straits Times Index enjoyed enjoyed a sixth consecutive rise on Tuesday, gaining 24.48 points at 3,006.02, making it the first time since early November 2015 that it closed above 3,000. Turnover, which dipped below S $ 1 billion on Monday, amounted to 1.9 billion units worth S $ 1.3 billion, though the advance-decline score of 256-201 suggested the index' s gain was not broad based. The last time the STI saw the 3,000 level was on Nov 4, 2015 when it ended at 3,039. It stayed above 3,000 for only 3 days then and until Tuesday had not managed to regain that level. |
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| 10-Jan-2017 14:53 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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European markets seen lower with fresh concerns over Italian banks Bourses in Europe should start Tuesday' s session moving south as concerns over the Italian banking system and the implementation of an OPEC deal continue to grow. Two Italian banks, Popolare di Vicenza and Veneto Banca, which were rescued last year, are to propose a deal with disgruntled shareholders that could cost the banks more than 600 million euros ($ 634 million). According to Reuters, the two banks are seen as The next big issue in the Italian banking system. Meanwhile, oil prices extended seen as U.S. trading on Monday as investors remain concerned that record crude exports from Iraq will affect the implementation of the OPEC deal to cut production. On Tuesday' s calendar will be the release of the World Bank Global Economic Prospects report. President Barack Obama is also giving a farewell address later in the day.   |
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| 10-Jan-2017 09:52 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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ASX down 0.8%, Nikkei slips 0.3%, Kospi off 0.3% Asian markets started Tuesday on the back foot, after the Dow retreated further from the 20,000 mark and oil prices plunged as much as 4 percent overnight. On the economic data calendar, Australia will announce November retail sales, while China' s Consumer Price index and Producer Price index are due. " Inflation data from China could set the regional tone. Consumer prices are projected to show a modest slowing in growth rates, but the PPI is forecast to accelerate from 3.3 percent to 4.6 percent," said Michael McCarthy, chief market strategist at CMC Markets in A note on Tuesday. Crude prices dropped 4 percent on Monday during US hours, on concerns that record Iraqi crude exports and rising US production would undermine the Organization of Petroleum Exporting Countries recent deal to cut supply. In Iraq, oil exports from the southern Basra ports reached a record high Of 3.51 million barrels per day in December, Reuters reported. U.S. crude fell $ 2.03 at $ 51.96 a barrel, while Brent finished down $ 2.16 at $ 54.94.   Asian Indexes
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| 10-Jan-2017 09:08 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch SGX, ISOTeam, CITIC Envirotech, F& N, CapitaLand, Yanlord, CEFC, Cheung Woh   |
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| 10-Jan-2017 08:24 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Oil down 4 percent on concerns over rising Iraqi exports, U.S. output NEW YORK (Reuters) - Oil prices tumbled by 4 percent on Monday on concern that record Iraqi crude exports and rising U.S. output would undermine OPEC' s efforts to curb global oversupply. US crude futures (CLc1) settled down $ 2.03 at $ 51.96 a barrel, while Brent futures (LCOc1) settled down $ 2.16 at $ 54.94 a barrel. In Iraq, OPEC' s second-biggest producer, oil exports from the southern Basra ports reached a record high of 3.51 million barrels per day (bpd) in December, the oil ministry said. OPEC members agreed in November on the first deal to cut oil output since 2008, limiting supplies to 32.5 million bpd starting Jan. 1 for six months. Iraq' s oil ministry underscored that the high levels from the south would not affect the country' s decision to cut January production to comply with the OPEC agreement. But some still concerned over the feasibility of the cuts, which would have to come from the north. " We have compliance with the Gulf countries, but the rest of the slate is looking a bit shaky," said Robert Yawger, director of the futures division at Mizuho Securities USA. " With the big numbers coming out of the southern port of Basra for December ... it' s implying that Iraq may be the first big crack in the wall of the OPEC agreement," he added. Sources also told Reuters that Iraq' s State Oil Marketing Company had given three buyers in Asia and Europe full supply allocations for February. The lower optimism comes even though Russia, one of the world' s largest crude producers, is apparently sticking with the agreement to cut. Russian energy market sources told Reuters the country' s output had fallen by 100,000 bpd in the first week of the month. Kuwait' s oil minister added on Monday that an OPEC committee will meet in Vienna on Jan. 21-22 to monitor compliance and agree on a " final monitoring mechanism." Last week, U.S. energy companies added oil rigs for a 10th week in a row, Baker Hughes data showed, with some forecast expecting the U.S. rig count will rise to 850-875 by the end of the year. Dealers say that the recent uptick in U.S. shale hedging to protect future output for 2018 and beyond could put more pressure into the market. They add that high inventories nationwide are still a hurdle for the market. " The price weakness ... calls attention to some bearish news that the market had been willing to ignore, such as the high level of (fourth quarter) supply still in transit to consumers and the uptrend in US drilling rigs and actual oil production, " Said Tim Evans, energy futures specialist at Citigroup, said in a note.   |
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| 10-Jan-2017 07:45 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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  U.S. stocks closed mixed on Monday, with and utilities lagging, as investors geared up for the start of earnings season and digested falling oil prices. The Dow Jones industrial average fell about 75 points, with Goldman Sachs contributing the most losses. The S & P 500 slipped about 0.4 percent, with energy and utilities falling more than 1 percent. US oil prices dropped 3.76 percent to settle at $ 51.96 per barrel, amid US production worries. The three major indexes posted new all-time intraday highs on Friday, as the Dow came within a third of a point of hitting the psychological mark of 20,000. " Markets have been focused on his economic policies, ... but there has always been uncertainty," said Quincy Krosby, market strategist at Prudential Financial. " Market participants are trying to figure out which Trump they are going to get." " The concern that we would express is that there is a lot of excitement about these policies, but they have not been enacted yet," said Bill Northey, chief investment officer at the Private Client Group at U.S. Bank. However, Atlanta Federal Reserve President Dennis Lockhart said in a speech the central bank should step aside, as the economic crisis is " largely done." Lockhart is due to retire from his post in February. Separately, Boston Fed President Eric Rosengren said the US central bank should step up its pace of interest-rate increases from the once-a-year pattern it has pursued since 2015, warning of lung risks if it does not. " I expect that appropriate. Monetary policy will need to normalize more quickly than over the past year, " Rosengren said in prepared remarks. Overseas, European equities fell broadly, with the pan-European Stoxx 600 index sliding 0.5 percent as the banking sector shed around 2 percent. U.K. stocks bucked the trend, however, as the FTSE 100 rose 0.38 percent on the back of a falling pound. Read more....   |
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| 09-Jan-2017 17:49 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index  2,981.54   0.64% +18.91 ▲  
Singapore shares close higher STI records fifth consecutive rise THE Straits Times Index advanced for the fifth consecutive trading session on Monday, gaining 18.91 points at 2,981.54, most likely in response to Friday' s US jobs report that raised the likelihood that Wall Street would enjoy a decent Monday itself, with hopes that the Dow Jones Industrial Average might close above 20,000 for the first time ever. That this might be the case was the signal from the futures market where the Dow futures traded in positive territory throughout local trading hours. At 5pm however, it had dipped marginally into the red. The STI' s rise takes its 5-day total to just over 100 points or 3.3 per cent. Overall volume, however, remained weak at 2.1 billion units worth S $ 881.2 million, versus S $ 1.14 billion on Friday. There were 265 rose versus 177 falls, Excluding warrants.   |
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| 09-Jan-2017 16:53 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Europe markets mostly lower euro zone data eyed FTSE rises as sterling falls European Indexes
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| 09-Jan-2017 09:04 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Stocks To Watch SembMarine, Secura, GKE, KSH, Ascendas i-Trust, Cosco   |
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| 07-Jan-2017 08:25 |
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STI to cross 3000 boosted by long-term investors
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  Dow comes within a whisker of hitting 20,000 S & P, Nasdaq close at all-time highs as tech pops U.S. equities closed higher after hitting all-time highs on Friday as the technology sector led, while investors parsed through key employment data. The Dow Jones industrial average rose about 65 points, with Goldman Sachs and Walt Disney contributing the most gains, and reached a new all-time intraday high. The Dow also came within 0.37 points of hitting 20,000 for the first time. The S & P 500 gained 0.35 percent and posted intraday and closing record highs, with information technology advancing 1 percent. " The Dow has been approaching 20,000 for several weeks now. Strong jobs news, combined with optimism about the incoming administration' s policies is lifting stocks," said Kate Warne, investment strategist at Edward Jones. The U.S. economy added 156,000 jobs in December, according to data from the Bureau of Labor Statistics. Economists polled by Reuters expected an increase of 178,000. The unemployment rate came at at 4.7 percent, in line with expectations. " This report is very good," said Michael Arone, chief investment strategist at State Street Global Advisors. " The fantastic thing here is the jump in hourly wages." Average hourly wages rose 10 cents to $ 26, representing a 2.9 percent annualized gain. Other data released Friday included November factory orders, which fell 2.4 percent, more than expected. Read more ... |
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| 06-Jan-2017 17:33 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Straits Times Index  2,962.63  0.29%+8.49▲  
Singapore stocks finish firmer, STI rises for 4th straight day ONLINE investment guide Investopedia defines the " January effect" as a seasonal increase in stock prices during the month of January that often occurs at the start of each year. " Analysts generally attribute this rally to an increase in buying, which follows the drop in price that typically happens in December when investors, engaging in tax-loss harvesting to offset realised capital gains, prompt a sell-off," said Investopedia. " Another possible explanation is that investors use year-end cash bonuses to purchase investments the next month." Whatever the reasons for the phenomenon, the local stock market enjoyed its own version of the " January effect" this week when the Straits Times Index, which ended flat for 2016, burst into life during the first week of 2017, gaining a total of 81.87 Points or 2.8 per cent, including Friday' s 8.49 point rise. |
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| 06-Jan-2017 16:45 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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European Indexes
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| 06-Jan-2017 16:44 |
Straits Times Index
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Asian Indexes
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| 06-Jan-2017 12:00 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Asia Shares Once Again at Mercy of Dollar Moves Japan shares dropped Friday amid yen strengthened as traders awaited U.S. jobs data for clues on Federal Reserve rate actions. Japan' s Nikkei Stock Average declined 0.9% in early trade after a decline in the dollar sent the yen stronger. A strong yen makes Japanese exports expensive. The index was last down 0.4%. The yen has strengthened 0.6% against the dollar since the Tokyo share market closed on Thursday. Nvestors are preferring to err on the side of caution ahead of US non-farm payrolls data, due later in the global trading day. A weaker number could prompt the Fed to pull back on its rate-raise trajectory. The US is expected to add 183,000 jobs in December according to consensus estimates polled by the WSJ. Meanwhile, China guided the yuan 0.9% stronger against the dollar Friday, its biggest increase since 2005, when the central bank surprised markets by removing its dollar peg. The Shanghai Composite was flat but in positive territory as investors bet on large-cap stocks in monopolized industries. This after Beijing urged a reform towards public-private ownership in these sectors to attract capital. Asian Indexes
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