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STI to cross 3000 boosted by long-term investors
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Octavia
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12-Dec-2013 09:10
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Markets are of the view that the Fed is closer to taper in Dec because of improving economic data and clearing of the budget impasse. However, the budget compromise, which still needs to pass through the Republican-dominated House and Democrat-controlled Senate, did not address the US debt ceiling, setting up another fiscal showdown after Feb | |||||||||||||||||||||||||||||||||||||||||||||||||
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Octavia
Supreme |
12-Dec-2013 09:08
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US stocks fell for a second day, suffering their biggest drop in two months as a congressional budget accord spured bets that the Fed could scale back its stimulus next week. The broad-based S& P 500 shed 1.1% to close below its milestone 1,800 level. The VIX or Wall Street?s so-called fear gauge spiked 11% to 15.42 for it sharpest advance since 15 Oct. | |||||||||||||||||||||||||||||||||||||||||||||||||
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bishan22
Supreme |
12-Dec-2013 08:38
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He must be a yes man in the company. Influenced by local mentality society.
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hlfoo2010
Master |
12-Dec-2013 08:13
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 If I am his boss I will promote him yesterday. Boss don't have to think ??? |
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BullsAndBear
Veteran |
12-Dec-2013 07:47
Yells: "I come at the turn of the tide " |
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Yea, really expect the unexpected.. STI has not move in tendem with US equities. If STI was to fall further, I would expect a technical rebound by next week. I wouldn't really be surprise at all if the STI was to move up today. Haha! Anyways Huat to all!! | |||||||||||||||||||||||||||||||||||||||||||||||||
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GorgeousOng
Supreme |
12-Dec-2013 07:22
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Expect the unexpected ! Huat arh!!! |
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tanglinboy
Elite |
12-Dec-2013 07:13
Yells: "hello!" |
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What goes down fast will come up fast also. | |||||||||||||||||||||||||||||||||||||||||||||||||
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bishan22
Supreme |
12-Dec-2013 06:05
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3030. More blue into red.
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WanSiTong
Supreme |
12-Dec-2013 06:03
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U.S. Stocks Drop as Budget Deal Spurs Bets on Fed Cuts CNN  Click for more market data. Stocks tumbled Wednesday as investors bet that a new U.S. budget deal raises chances the Federal Reserve might start to scale back its support for the economy soon.The Dow Jones industrial average fell nearly 130 points. The S& P 500 and the Nasdaq both lost more than 1%. Congressional negotiators reached a bipartisan budget compromise late Tuesday that would prevent another government shutdown, if approved by the House and Senate. The deal would set spending levels, reduce the deficit and relieve some of the arbitrary, forced spending cuts. Some analysts say the deal could make the Fed more likely to announce it will begin trimming its $85-billion-a-month bond purchases as early as next week. Fed chairman Ben Bernanke has said repeatedly that uncertainty about fiscal policy is a threat to the economy. " This budget agreement probably increases the odds of a taper sooner rather than later," said Ryan Larson, head of equity trading at RBC Global Asset Management. Still, many investors say the Fed will remain on hold at next week's policy meeting, despite a recent run of strong employment data. The general consensus is that Fed vice chair Janet Yellen, who has been nominated to succeed Bernanke and is awaiting final approval from the Senate, will begin tapering early next year. ............................................ Bloomberg News U.S. stocks fell a second day, giving the Standard & Poor?s 500 Index its biggest back-to-back drop in two months, as a congressional budget accord fueled speculation the Federal Reserve could trim stimulus next week. The S& P 500 dropped 1.1 percent to 1,782.22 at 4 p.m. in New York, extending its two-day slide to 1.5 percent from a record on Dec. 8. Today?s retreat was the biggest since Nov. 7. The Dow Jones Industrial Average fell 129.60 points, or 0.8 percent, to 15,843.53. About 6.5 billion shares changed hands on U.S. exchanges, 6.5 percent above the three-month average. ?We?ve moved much closer for the Fed to taper in December,? Jeffrey Kleintop, chief market strategist at LPL Financial LLC in Boston, said in a telephone interview. ?Markets are increasing their views that we are a week or so away from tapering because of improving economic data and clearing the hurdle for a budget deal. This deal is great, it?s a positive, but also a negative because it could prompt the Fed to taper sooner.? The S& P 500 fell 0.3 percent yesterday after reaching a record 1,808.37 the day before. Fed stimulus has helped propel the benchmark gauge higher by as much as 167 percent from its bear-market low in 2009. The index has rallied 25 percent this year and is challenging 2003 for the biggest annual jump since 1998. Fed MeetingInvestors are considering when the central bank, which meets next week, will reduce the pace of its monthly bond buying. Fed officials cited the drag from fiscal policy in their Oct. 30 statement and Jeffrey Lacker, president of the Richmond Fed, said in a speech Dec. 9 that budget uncertainty is weighing on business investment decisions. Congressional negotiators yesterday agreed to a budget deal that would ease automatic spending cuts by about $60 billion over two years and will reduce the deficit by $20 billion to $23 billion. The budget compromise, which needs to pass both chambers of Congress, doesn?t raise the U.S. debt limit, setting up another potential fiscal showdown after February. Fitch Ratings said the proposal signals ?an improvement in the functioning of budget policy making? and suggests a reduced risk that political brinkmanship will cause another government shutdown or debt ceiling crisis. Budget Deal?The budget deal itself is at best a signal that we won?t shut the government down at the start of the new year,? Alexander Friedman, chief investment officer at UBS AG?s wealth-management unit, told Anna Edwards on Bloomberg Television. ?It?s a low base that we?re declaring victory from. The key message for 2014 is the real economy is getting better. For investors however, it?s probably not going to be the same sugar high we?ve seen for the last five years.? The deal comes after data last week showed the jobless rate fell to a five-year low and the U.S. economy expanded in the third quarter at a rate faster than initially estimated. Data later this week on retail sales, initial jobless claims and producer prices will provide clues on whether growth is strong enough for the Fed to curb stimulus measures. The Federal Open Market Committee will probably start slowing its $85 billion in monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg, an increase from 17 percent in a Nov. 8 survey. Nine of the 35 economists surveyed said the central bank will buy fewer bonds from its January meeting and the remaining 14 predicted that tapering will start in March. |
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WanSiTong
Supreme |
12-Dec-2013 05:55
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满 江 红 ............ World MarketsNorth and South American markets finished broadly lower today with shares in Brazil leading the region. The Bovespa is down 1.81% while U.S.'s S& P 500 is off 1.13% and Mexico's IPC is lower by 0.44%. North and South American Indexes
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Wisely
Senior |
12-Dec-2013 00:20
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Dow's going down...... | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
11-Dec-2013 22:40
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My Market View The views expressed here by the contributor does not belong to ShareJunction. Daily Market Opinion for 11-Dec-2013 Contributed by Jay Chia 11-Dec  Daily Market Opinion for 11-Dec-2013 It was another day of bloodshed for STI yesterday. STI had failed to hold above 3100 support level yesterday which sends strong selling pressure into the market. STI attempted to rebound with a positive opening yesterday but it failed to sustain the bullishness despite bullish closing by DJI on the previous night. Sellers gradually enter the market after the opening hours and started to pressurise 3100 support level. This support level cracks eventually and a new wave of sellers enter the market. Buyers started to avoid the market which sends STI to drop deeper during the day. Eventually, STI closed at 3081 level with 31.92pts down for the day. Last night, DJI returned its gains and retreated by 52.40pts. Will STI retreat further today? How far can STI go today? ( STI close 3061 today.) Breaking of 3100 support level yesterday had dampened the hope of STI rebounding this week. With such actions, STI will be heading for its next support level to form its lower low formation. The next immediate support level stands at 3080 level which STI is trading close to right now. However, the short-term indicators failed to create bullish reversal signals yesterday. This indicates that there might be selling pressure to happen today and hence, the support might fail to hold. If 3080 level fails to hold as support, STI will likely attempt to reach the next support at 3050 level. Therefore, the key level to watch out today will be 3080 support level. The banks were shed their values yesterday. Ocbc suffered strong selling pressure despite its attempts to rebound yesterday. 10.00 support level was broken yesterday and this will lead Ocbc to seek for another support at 9.85 level. Uob was also seen losing its value strongly. It failed to break its 50ma resistance line and even broke its support at 20.70 level yesterday. This bearish movement will lead Uob towards its next support at 20.30 level. Dbs did not slide much yesterday as it is still supported by its 50ma line. 100ma line was also tested yesterday and it seems that the support is holding well here. Support might be formed around 16.70 level today. Overall, the banks will likely to show more selling pressure today as they have yet to test their support level. The properties were also sliding lower yesterday with some testing their support levels. Citydev was able to reach its support at 9.70 level and test it yesterday. Citydev will likely to continue to test this support level today. Kepland also managed to hold its support around 3.40 level yesterday. It is still unsure of whether this support will hold and if Kepland breaks this support, it could be heading towards next support of 3.27 level. Capitaland broke its key support at 3.00 level yesterday. This breakout had confirmed its downtrend movement and Capitaland will be heading towards its next support at 2.90 level to test it. Overall, most of the properties are testing their support levels yesterday and they will likely to hold at this support today. Selling pressures were also seen in the offshore sectors yesterday. Kepcorp failed to stay above 11.00 level and returned back to its 50ma support line at 10.90 level. This support held well with the horizontal support at 10.85 level. Kepcorp will likely to continue to test this support level today. Sembcorp continues to be resisted by its resistance at 5.30 level yesterday and it is now attempting to return back to its support at 5.20 level. 5.20 support level will likely to be tested today. Sembmar broke its support at 4.30 level yesterday and it is now heading towards its next support at 4.25 level. Sembmar will likely to be testing its support at 4.25 level today. Overall, the offshores are likely to continue to test their support levels today. The commodities were surprisingly flat yesterday as they are not affected by the market sentiment. Wilmar was the only one that retreated strongly yesterday as it broke its 50ma support at 3.42 level. Downtrend will be forming for Wilmar and it will likely to attempt to test its support at 3.37 level today. Olam continues to face resistance at 1.50 level yesterday and it is still holding well at 1.46 level. If 1.46 support fails to hold, Olam will be confirming its downtrend movement and head towards its next support at 1.42 level. Noble grp was facint resistance at 1.05 level yesterday and was unable to break its. Bearish candle was formed yesterday while 50ma line is holding the support at 1.03 level. If Noble grp breaks 1.03 supportlevel, Noble grp will be confirming its downtrend formation and its immediate support at 1.01 level will be threatened to break. Overall, the commodities are trading closer to their resistance level and selling pressure might start to set in. In conclusion, STI?s failure to hold at 3100 support level had definitely blown off the chance of a rebound. Further selling pressure can be expected to happen today. However, the selling pressure is likely to be limited as both the properties and offshores are near their support levels. There are still some downside rooms for the banks and commodities to slide but they are likely to be limited also. Therefore, the immediate support levels at 3080 or 3050 will likely to limit STI?s downside. These support levels will likely to be tested today. Long traders should continue to stay aside. Shortists should continue to ride on the downside and get ready to close their short positions when rebound happens. |
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teeth53
Supreme |
11-Dec-2013 22:32
Yells: "don't learn through life, learn to grow with life " |
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THE Singapore stock market is well positioned for two contrasting themes in 2014: improving global economic growth, and currency volatility concerns from a US taper, said Credit Suisse in its 2014 outlook report. " With a stable to strengthening currency, inexpensive valuations, and yet with strong global linkages, we believe Singapore equities offer a unique, low-volatility exposure to potential growth improvement," the report said. The bank said an improvement in the global economy is likely to benefit small and mid-cap companies, and possibly some commodity names. Meanwhile, bank earnings could improve if trade and the small and medium enterprises (SME) sector picks up. |
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teeth53
Supreme |
11-Dec-2013 22:25
Yells: "don't learn through life, learn to grow with life " |
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FORECASTERS are more optimistic about S'pore economy than they were 3 months ago, according to the latest quarterly survey conducted by Singapore's central bank. The 21 private-sector economists and analysts who responded to the Monetary Authority of Singapore's survey in November expect the the Republic's gross domestic product (GDP) to expand 3.8% in 2013 - up from the 2.9% median forecast in the Sept survey. Last mth, the govt raised its full-year growth forecast to 3.5-4%, compared to its earlier projection range of 2.5-3.5%. For Q3 2013, the respondents expect GDP to grow by 5.8% - higher than the 4% that was reported in the earlier survey. |
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WanSiTong
Supreme |
11-Dec-2013 22:18
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Stocks eye budget deal for taper risk Stocks could take another knock Wednesday as a new U.S. budget deal raises the chances that the Federal Reserve might begin scaling back its support for the economy.U.S. stock futures were weaker before the open, with the S& P 500 contract down 0.3%. Congressional negotiators reached a bipartisan budget compromise on Tuesday that would prevent another government shutdown, if approved by the House and Senate. The deal would set spending levels, reduce the deficit and relieve some of the arbitrary, forced spending cuts. The reduced risk of a damaging shutdown would give support to those arguing for the Fed to begin trimming its $85-billion a month bond purchases as early as next week. " They could well be helped in this decision by last night's announcement... that a new budget deal could well be unveiled in the coming days," noted Michael Hewson, chief market analyst at CMC Markets UK. " It certainly does appear that a window of opportunity could be opening up for the Fed to act next week without a sharp market reaction, the only question remaining as to whether they will avail themselves of it." Asian markets ended weaker, with Hong Kong's Hang Seng Index dropping 1.7% and China's Shanghai Composite falling 1.5%, as heavy pollution blanketed the region. Tokyo's benchmark Nikkei 225 closed 0.6% lower and Australia's ASX All Ordinaries finished the day down 0.7%. |
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GorgeousOng
Supreme |
11-Dec-2013 22:07
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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New budget deal will pass |
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GorgeousOng
Supreme |
11-Dec-2013 21:29
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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US lawmaker announce compromise budget deal |
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Wisely
Senior |
11-Dec-2013 19:41
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Will there be a price drop in real estate? i am waiting to buy a house lol. | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
11-Dec-2013 18:01
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China?s Stocks Retreat Most in Month on Economic Target Concern 2013-12-11 By Bloomberg News Dec. 11 (Bloomberg) -- China?s stocks fell, dragging the benchmark index to its biggest loss in a month, as coal producers retreated and investors speculated the government may cut growth targets at an economic policy meeting this week. China Shenhua Energy Co. and China Coal Energy Co., the nation?s biggest coal producers, dropped at least 2 percent as worsening air pollution spurred government plans to curb coal consumption. China Life Insurance Co. tumbled 3.9 percent, reducing gains in the past month to 14 percent, while Ping An Insurance Group Co. retreated 3.4 percent. The Shanghai Composite Index dropped 1.5 percent to 2,204.17 at the close, the biggest loss since Nov. 13. The Hang Seng China Enterprises Index sank 2.8 percent in Hong Kong. China?s government may cut its 2014 economic growth target to 7 percent from 7.5 percent at the conference which ends tomorrow, the Economic Information Daily reported Dec. 4. Policy makers should phase out proactive fiscal stimulus, the China Securities Journal said in a front page commentary today. ?There?s concern that the government will set a lower economic growth target,? said Wang Zheng, the Shanghai-based chief investment officer at Jingxi Investment Management Co. ?That?s triggered a sell-off of big-cap cyclical stocks, which have dominated the broader market recently.? The CSI 300 slumped 1.7 percent to 2,412.76. The Bloomberg China-US Equity Index added 0.6 percent in New York yesterday. Trading volumes in the Shanghai Composite were equal to the 30- day average today, according to data compiled by Bloomberg. Growth Target The People?s Bank of China will announce new loans for November and money supply figures as early as today. Data released yesterday by the statistics bureau showed that industrial output rose less than estimated in November while retail sales unexpectedly accelerated. The government will likely maintain its targets of 7.5 percent for growth and 3.5 percent for inflation next year, Barclays Plc economist Jian Chang wrote in a report dated yesterday. Keeping the targets should help to stabilize market sentiment as the government implements reforms, according to report. The Economic Information Daily reported Dec. 4 that China may set its 2014 growth target lower at 7 percent. The Shanghai Composite has risen 3.2 percent since the government vowed on Nov. 15 to allow more private investment in state-controlled industries and loosen its one-child policy in the most sweeping reforms in two decades. The gauge trades at 8.6 times projected profit for the next 12 months, compared with the seven-year average of 15.2, according to data compiled by Bloomberg. |
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BullsAndBear
Veteran |
11-Dec-2013 16:24
Yells: "I come at the turn of the tide " |
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It is traditional weak in December, just that it's especially bad this year because of penny crash + US macro uncertainties. I see some light in the beginning for the new year.. Until then, hold tight to your holdings if you can. | |||||||||||||||||||||||||||||||||||||||||||||||||
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