Skip to main content

Singapore Stock Market Booming by Investment

Singapore shares closed 0.14 percent lower on Monday, as stagnant U.S. budget talks threatened to derail the world's largest economy and kept investors cautious, but price drop was limited as further signs of a stabilizing Chinese economy boosted investors' sentiment.

China's official manufacturing purchasing managers' index rose to a 7-month high of 50.6 in November, following up on a preliminary private sector survey which revealed factory activity reviving to a 13-month high.

A number of central banks, including the Reserve Bank of Australia, the European Central Bank and the Bank of England, will hold their policy meetings this week. The monthly U.S. nonfarm payrolls data is due out on this Friday.

SIAS Research said "we could see the index testing 3,080 points resistance level, with immediate support at 3,060 points and 3,040 points levels."

DBS Group Research said "trading activity should taper down over the next three weeks before picking up again just before Christmas. The Straits Times Index is likely to range within 3,030 points and 3,090 points over the next three weeks with firmer support noted at 2,980 points."

Singapore's benchmark Straits Times Index dropped 4.21 points to 3,065.74 points. Trading volume was 1.86 billion shares worth 1. 09 billion Singapore dollars. Decliners outnumbered advancers 220 to 158, while 582 stocks did not move.

Among top actives, Genting Singapore shed 3.1 percent to 1.24 Singapore dollars. Deutsche Bank Research has a "hold" rating and 1.27 Singapore dollars target price on Genting Singapore. The German research house lowered its growth estimate for Singapore's gaming market in 2013 to 3 percent, from 6 percent previously.

Olam International requested on Monday a trading halt in its shares for one day pending the release of an announcement. The Singapore commodity trader bought 100 percent of Dehydro Foods Limited, which processes dehydrated onions and herbs in Egypt, for 30.8 million Singapore dollars.

Singapore Airlines closed flat at 10.71 Singapore dollars. It said it was in discussions with interested parties for the possible divestment of its 49 percent stake in British carrier Virgin Atlantic. It did not name the interested parties, but Delta Air Lines had reportedly held recent talks to buy Singapore Airlines' 49 percent stake in Virgin Atlantic.

Comments

Post a Comment

Popular posts from this blog

Bohol's Che Delos Reyes Avoids Drug Test, Sparks Public Suspicision

by Sunday Post Bohol Gov. Chatto negative for drugs but where's Che? Is she a false accuser? Gov. Edgar Chatto has tested negative for illegal drugs or any dangerous substances in separate credible examinations to which his falsely accusing political opponent did not submit herself. Not even a shadow of gubernatorial contender and Carmen Mayor Conchita De los Reyes did turn up for the twin drug tests at the state hospital and police crime laboratories on Monday. Many thought should she refuse examination for reason she only could tell, her mere presence would have saved her from inexcusable flak for her own dangerous gimmick that the governor is "engaged in illegal drug activities." Both the laboratory analyses of the Gov. Celestino Gallares Memorial Hospital (GCGMH) and Philippine National Police (PNP) Crime Laboratory at Camp Dagohoy proved Chatto to have not indulged in prohibited drugs. As a consequence, the moral authority and ascendancy of the reelectionist govern...
Post a Comment
Read more

Workers’ Party of North Korea Kim Jong-un

First Secretary of the Central Committee of the Workers' Party of North Korea Kim Jong-un came out with two speeches at the party's plenary session here on Sunday. The session focused "on tasks the party faces in making a decisive turn in the process of accomplishing the Juche revolutionary course." The party's strategic priorities will embrace "reconstruction of the economy as well as a qualitative and numeric strengthening of nuclear delivery forces for self-defence purposes," the North Korean leader said at the session after visiting the mausoleums of his father Kim Jong-il and grandfather Kim Il-sun in Kumsusun Palace. He was accompanied by members of the Politburo of the Central Committee of the Workers' Party of Korea and of the Central National Defence Commission. North Korea "is not eager to use the nuclear weapons as goods for buying American dollars or as a bargaining tool for receiving humanitarian aid," he said. "W...
Post a Comment
Read more

Global Hunger: 1 Billion People Hungry

By Bingo Dejaresco III It is not our imagination, folks. It is the United Nation's Food Council who drew the number. There are one billion hungry men in Planet Earth today. One of six earthlings suffer from malnutrition today. Last year in 2008, there were only 915 million recorded hungry earthlings then. War and political instability, drought and food crisis had brought this tragedy to us. When food production stabilized late last year, the global financial crisis however, in turn, lowered income levels and prejudiced access of men to food instead. This, aside from the fact, that food prices in the world had really effectively increased by 24%, a hot ratio, from 2006 to 2008. Malnutrition means a person receives less than 1,800 calories a day. This depravity, according to the UN, caused food riots in 30 countries recently. Malnutrition leads to slow death in that it weakens the immune system against battling germs that cause sickness and diseases. Malnutrition kills man softly....
Post a Comment
Read more