Philip Chua Business Blog

Posts Tagged ‘local market’

IF YOU are betting on the local market today, chances are you will be leaning towards the bears.
After all, with a negative Friday close on Wall Street, a market holiday today in the US and lingering concerns over an overheating property market in China, there seems little reason to hope for a positive session here, or across the region.

The Dow Jones tumbled 100.9 points to 10,609.65 last Frida… more

THE tiredness exhibited by the local market on Wednesday proved to be a precursor of things to come as prices fell yesterday across-the-board. Weighed down by weakness in Hong Kong and by expectations of a soft Thursday for Wall Street, the Straits Times Index finished 17.24 points down at 2,913.25, with the broad market recording 256 falls versus 190 rises, excluding derivatives. In the previous … more

WEAKNESS in Hong Kong and expectations of a possibly soft session for Wall Street meant that the local market underwent an indifferent session yesterday in which rotational punting of penny stocks was the main focus. The Straits Times Index, in the meantime, didn’t show much conviction throughout the day, spending most of the session moving in tandem with Hong Kong’s Hang Seng Index. With the latt… more

THE closure of the Hong Kong market for a public holiday yesterday meant that the local market was mainly left to run on its own steam and in this regard, it turned in a disappointing performance – stocks mainly drifted in low volume throughout the day. The Straits Times Index’s movements displayed all the hallmarks of a market unsure of what to do next while lacking in direction when it traded wi… more

THE local market marched to the tune of Hong Kong yesterday and – to a greater extent – expectations of how Wall Street would perform when it opened on Monday. And going by the weak opening – clearly in response to Friday’s US slide – followed by an afternoon rebound, players were betting on the US market recovering its poise on Monday.
Added evidence for expecting this came by way of a 50-point r… more

WALL Street’s overnight slide put pressure on the local market yesterday, but expectations of a possible US rebound on Thursday helped minimise losses. Hong Kong’s Hang Seng Index Index initially fell almost 3 per cent but finished 2.5 per cent weaker, leading to the Straits Times Index (STI) cutting its loss from about 28 points to 18.51 points at 2,667.43.
As always, stocks priced below 20 cents… more

IN THE end, the local market could manage only one day back in the black, before investors retreated to the sidelines ahead of the United States Federal Reserve’s deliberations on US interest rates.
This nervousness sent the Straits Times Index (STI) backwards by 25.99 points to close at 2,571.31 yesterday. Most STI components lost ground. The benchmark had lost ground for four straight sessions p… more

THE local market ended a four-day rally yesterday as investors took profit after the recent market frenzy, in a fall

mirrored across Asia as regional bourses slipped from their 10-month peaks.

The morning sell-off was mild, but sentiment soured after China markets took a sudden dive in the afternoon on concerns that government efforts to control huge amounts of bank lending could suck out some… more

THE biggest rise in the past six trading days yesterday has taken the local market to within touching distance of 2,500 points and its highest close in 10 months.

A surge of almost 3 per cent in Hong Kong offset Wall Street’s lacklustre performance and helped drive the benchmark Straits Times Index (STI) up 34.07 points, or 1.39 per cent, to 2,484.9.

It was the STI’s best finish since Sept22 l… more

AFTER trading in positive territory for most of yesterday, the local market suffered a sharp reversal in the last half-hour to close in the red.

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Dealers say profit-taking after a hefty run-up and weak indications from bourses abroad were key factors that kept a lid on gains during the day.

Th… more