Philip Chua Business Blog

Posts Tagged ‘point’

WITH Wall Street closed for the 4th of July holidays and Shanghai's key index sliding to a 14-month low, there was no way for the local bourse but to head south. That said, the Straits Times Index still showed remarkable resilience by remaining largely range-bound on low volumes, and closing the session just 0.17 of a point down at 2,844.02. Traders said that whatever little volume that was being ... more

DO WE need a 'wall' on Wall Street? The question looms after traders' computers spiralled out of control and sent the Dow Jones Industrial Average into a nearly 1,000-point plunge last week. It appears that Wall Street is becoming less a place where businesses raise capital and more a traders' playground. Billion-dollar investors and their million-dollar computers are an expanding reality in sto... more

POSITIVE economic and corporate data boosted investor sentiment yesterday, with regional markets quickly recovering much of the ground lost in last week's knee-jerk sell-down in response to the US government's lawsuit against Goldman Sachs. The benchmark Straits Times Index (STI) yesterday promptly rebounded back above the 3,000-point level, closing 14.13 points higher at 3,002.62. Traders were up... more

HONG Kong’s weakness probably played a pivotal role in yesterday’s 5.36-point loss in the Straits Times Index to 2,913.94, although just as important was the fact that the index had already shot up by 130 points since closing at 2,790 on March 5. A third factor was Europe’s soft opening across all markets, suggesting that expectations were for a weak Thursday on Wall Street.
Genting Singapore was … more

The Federal Reserve has paid a yearlong bribe to the housing market to keep mortgage rates almost a full point below average. The $1.25 trillion payoff also known as the Mortgage Backed Security purchase program is about to end. Will the mortgage market stay bought? Honest corruption is when a…