Philip Chua Business Blog

Posts Tagged ‘sell-off’

NOT surprisingly, after losing about 70 points in a two-day sell-off on Tuesday and Wednesday, the Straits Times Index yesterday managed a bounce of 26.97 points to 2,959.01, described as 'technical' in some circles, but more likely due to short-covering. The broad market, however, was marginally firm, recording 226 rises versus 139 falls, excluding derivatives. Turnover was a moderate 1.9 billion... more

This past week has all the hallmarks of a market set to stall and undergo a correction lower for a few weeks at least. Before outlining those hallmarks, it's worth mentioning the main source of hesitation with this view, namely the proximate catalyst to Friday's sell-off: the US bank being...

The dollar found itself on the defensive against European currencies for much of the week, softness blamed on month- and quarter-end stop-loss orders. Several factors favored technical retracement in EUR/USD pair, which has seen an 800 pip Q1 quarter sell-off. Traders cited passive month/quarter end portfolio rebalancing, higher March inflation…

TRADING was mostly weak yesterday, but a late burst of buying ahead of an anticipated rise on Wall Street limited the Straits Times Index’s loss to 15.35 points at 2,781.86.
Earlier in the day, a Hong Kong-led sell-off had dragged the index to a low of 2,769 or a loss of about 28 points. But as traders all know, much of what happens to stocks here depend on expectations for the US market later in … more

A global sell-off on equity markets dragged down crude prices by nearly 3 percent Thursday, the first decline this week.

STI ends 16.67 points lower but off day’s low on short-covering and mixed Europe opening
THE local stock market suffered from a third consecutive Wall Street-triggered sell-off yesterday, this time resulting in 16.67 points being cut off the Straits Times Index at 2,632.31. This brings the index’s three-day losing streak to 85 points or 3.1 per cent.
It did, however, finish off its low of 2,605 y… more