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Guest
on 06 Jul 08 11:24 pm
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| Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
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on 07 Jul 08 12:57 am
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| Anonymous wrote: | | Anonymous wrote: | STI already done it major correction of over 20% from 3900 to 2800.
STI will need sometime to consolidate above at the support level of 2800 for another upswing to test the 3900 level again.. |
THE SWING IS GOING TO BE DOWNWARD. THIS IS THE CALM BEFORE THE BIG SLUMP. 2200 LEVEL WILL BE TESTED. |
Good to see so many stock market gurus exchanging notes. i think the guy who said consolidate above support of 2800 and upswing has higher probability of happening. 85% chance. But property market prices unfortunately will be going up after the current subprime storm subsides. |
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Guest
on 07 Jul 08 6:53 am
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | STI already done it major correction of over 20% from 3900 to 2800.
STI will need sometime to consolidate above at the support level of 2800 for another upswing to test the 3900 level again.. |
THE SWING IS GOING TO BE DOWNWARD. THIS IS THE CALM BEFORE THE BIG SLUMP. 2200 LEVEL WILL BE TESTED. |
Good to see so many stock market gurus exchanging notes. i think the guy who said consolidate above support of 2800 and upswing has higher probability of happening. 85% chance. But property market prices unfortunately will be going up after the current subprime storm subsides. |
Which is a long way to go and hard time to get there. |
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Guest
on 07 Jul 08 8:06 am
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | STI already done it major correction of over 20% from 3900 to 2800.
STI will need sometime to consolidate above at the support level of 2800 for another upswing to test the 3900 level again.. |
THE SWING IS GOING TO BE DOWNWARD. THIS IS THE CALM BEFORE THE BIG SLUMP. 2200 LEVEL WILL BE TESTED. |
Good to see so many stock market gurus exchanging notes. i think the guy who said consolidate above support of 2800 and upswing has higher probability of happening. 85% chance. But property market prices unfortunately will be going up after the current subprime storm subsides. |
Which is a long way to go and hard time to get there. |
Which will only happen after burning all the speculators. When you give shit you get shit back sooner or later. This will be a downturn never witnessed before by this generation. |
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Guest
on 07 Jul 08 9:05 am
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| why do u thinking this down turn is severe? |
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Guest
on 07 Jul 08 9:15 am
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| Anonymous wrote: | | why do u thinking this down turn is severe? |
This time the "down turn" is very severe for these people because they want to talk other people into selling their property. These people either sold their property too early and made very little money or they hold their property for a long time so offload when the property started moving in 1996. Some of them don't believe prices can go up so missed the boat. These people hope prices can come down so that they can buy. But after months of waiting the prices remain the same or even going higher in spite of sub prime, rising oil price, inflation etc. These people becoming desperate and jealous when they see other people making money so they start make angry comments. Please be careful not to read too much into the postings here as they lack substance and economic fundamentals. Prices are going up and these people are just a bunch of unhappy folks in denial mode trying to talk down the market and selecting negative news to cut and paste.  |
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Guest
on 07 Jul 08 11:55 am
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| Anonymous wrote: | | Anonymous wrote: | | why do u thinking this down turn is severe? |
This time the "down turn" is very severe for these people because they want to talk other people into selling their property. These people either sold their property too early and made very little money or they hold their property for a long time so offload when the property started moving in 1996. Some of them don't believe prices can go up so missed the boat. These people hope prices can come down so that they can buy. But after months of waiting the prices remain the same or even going higher in spite of sub prime, rising oil price, inflation etc. These people becoming desperate and jealous when they see other people making money so they start make angry comments. Please be careful not to read too much into the postings here as they lack substance and economic fundamentals. Prices are going up and these people are just a bunch of unhappy folks in denial mode trying to talk down the market and selecting negative news to cut and paste. |
I made $150 k from the sale of my flat, and just sold my condo and made another $100k. Now I'm renting.
Yes I'm waiting. I'm making "angry" statements because I want to warn people. My intentions are good. My comments are based on Strong Economics REALITIES.
Singaporeans are in a serious case of EMPEROR'S NEW CLOTHES. Can't you see the King is Naked?
Sub prime + inflation + oil prices + stagnant growth + desperate govt...
look at it this way - we're putting BILLIONS into buying banks OVERSEAs.
That's how much confident we have in our own banks. how much confidence we have in investing in our own country.
Please wake up. Think. Do something.
I am Pro-Government, they've done a fantastic job so far... but i really feel they are so good at their jobs being such great parents, that the people became very spoilt, like spoilt rich kids, greedy and uneducated, have no idea how big the world is, and can only think inside this little safe box.
LEARN TO FIGHT. LEARN TO COMPETE. STAND UP ON YOUR OWN TWO FEET! GROW UP! SINGAPORE! IT'S TIME TO GROW UP! |
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Guest
on 07 Jul 08 5:02 pm
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| With inflation going up, if PRs jump into the wagon of buying property at high the locals suffer. |
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Guest
on 07 Jul 08 5:22 pm
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| Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
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Guest
on 07 Jul 08 5:35 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
Not just invest in singapore. Now the idea is to ask these rich people to Settle in singapore. That is why property prices are not going to come down. the foreigners will continue to come and buy because their ang mo country stock market and currency are all falling. |
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Guest
on 07 Jul 08 6:43 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
Not just invest in singapore. Now the idea is to ask these rich people to Settle in singapore. That is why property prices are not going to come down. the foreigners will continue to come and buy because their ang mo country stock market and currency are all falling. |
you seriously think they'll come here and settle down here?
THINK ABOUT IT - If your stock market and currency are falling like mad the first thing you would think of is to migrate (or invest in) to a low-crime country with no natural disaster???? That line of logic is so optimistically sad, it makes me feel so sorry for all of us.
I cannot believe you people are sooooo innocent! or in some serious denial... |
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Guest
on 07 Jul 08 8:20 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | STI already done it major correction of over 20% from 3900 to 2800.
STI will need sometime to consolidate above at the support level of 2800 for another upswing to test the 3900 level again.. |
THE SWING IS GOING TO BE DOWNWARD. THIS IS THE CALM BEFORE THE BIG SLUMP. 2200 LEVEL WILL BE TESTED. |
Good to see so many stock market gurus exchanging notes. i think the guy who said consolidate above support of 2800 and upswing has higher probability of happening. 85% chance. But property market prices unfortunately will be going up after the current subprime storm subsides. |
Which is a long way to go and hard time to get there. |
Which will only happen after burning all the speculators. When you give shit you get shit back sooner or later. This will be a downturn never witnessed before by this generation. |
STI will be holding above the major support level.. & begin to climb once things get stabilise soon.
Last year was the high end market take the lead.. now is the mass market to takeover the task by holding at current level forming a support to prevent mid end to fall.. & mid end indirectly prevent high end market for falling too much. Once the high end stabilise at certain level. The whole market will begin it moderate uptrend.. |
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Guest
on 07 Jul 08 9:01 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | STI already done it major correction of over 20% from 3900 to 2800.
STI will need sometime to consolidate above at the support level of 2800 for another upswing to test the 3900 level again.. |
THE SWING IS GOING TO BE DOWNWARD. THIS IS THE CALM BEFORE THE BIG SLUMP. 2200 LEVEL WILL BE TESTED. |
Good to see so many stock market gurus exchanging notes. i think the guy who said consolidate above support of 2800 and upswing has higher probability of happening. 85% chance. But property market prices unfortunately will be going up after the current subprime storm subsides. |
Which is a long way to go and hard time to get there. |
Which will only happen after burning all the speculators. When you give shit you get shit back sooner or later. This will be a downturn never witnessed before by this generation. |
STI will be holding above the major support level.. & begin to climb once things get stabilise soon.
Last year was the high end market take the lead.. now is the mass market to takeover the task by holding at current level forming a support to prevent mid end to fall.. & mid end indirectly prevent high end market for falling too much. Once the high end stabilise at certain level. The whole market will begin it moderate uptrend.. |
AGREED!! |
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Guest
on 07 Jul 08 9:34 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
Not just invest in singapore. Now the idea is to ask these rich people to Settle in singapore. That is why property prices are not going to come down. the foreigners will continue to come and buy because their ang mo country stock market and currency are all falling. |
you seriously think they'll come here and settle down here?
THINK ABOUT IT - If your stock market and currency are falling like mad the first thing you would think of is to migrate (or invest in) to a low-crime country with no natural disaster???? That line of logic is so optimistically sad, it makes me feel so sorry for all of us.
I cannot believe you people are sooooo innocent! or in some serious denial... |
You are not an foreign talent so you will never understand the logic. I am innocent and I really think you are still the greatest and smartest person on earth. Really! No denial about it. |
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Guest
on 07 Jul 08 9:58 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
Not just invest in singapore. Now the idea is to ask these rich people to Settle in singapore. That is why property prices are not going to come down. the foreigners will continue to come and buy because their ang mo country stock market and currency are all falling. |
you seriously think they'll come here and settle down here?
THINK ABOUT IT - If your stock market and currency are falling like mad the first thing you would think of is to migrate (or invest in) to a low-crime country with no natural disaster???? That line of logic is so optimistically sad, it makes me feel so sorry for all of us.
I cannot believe you people are sooooo innocent! or in some serious denial... |
You are not an foreign talent so you will never understand the logic. I am innocent and I really think you are still the greatest and smartest person on earth. Really! No denial about it. |
Aiyo.... haiz... like talking to a retard. no hope liao.
can at least give some constructive debate or not? that's the problem - that's the real problem here. I raise a point - you give suan suan answer -
like dat how to progress?
fight me! tell me I'm wrong with facts! not with bad grammar and sacarsms.
(i know i sure kanna another smart alek reply... are we really so retarded that we can only behave like 12 year old? no wonder the ang mos laugh at us and take our high paying jobs and salaries) |
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Guest
on 07 Jul 08 10:08 pm
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Oil drops more than $5
Monday July 7, 9:47 am ET
NEW YORK (Reuters) - U.S. crude futures fell more than $5 Monday on a stronger dollar, the view that Hurricane Bertha will avoid damaging Gulf of Mexico energy operations, and as traders took profits after last week's surge above $145.
Some optimism that Iran and the West may show some flexibility in negotiations over Iran's nuclear program also was mentioned by dealers as a factor pressuring crude.
On the New York Mercantile Exchange at 9:41 a.m. EDT, August crude (CLQ8) was down $4.40 or 3.0 percent at $140.89 a barrel, trading from $140.12 to $145.68.
A NYMEX record high price of $145.85 was hit on Thursday. |
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Guest
on 07 Jul 08 11:52 pm
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| THANK YOU! YES! |
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Guest
on 08 Jul 08 12:50 am
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | there's a reason why London property prices keep going up, there's a reason why shanghai prices keep going up, and so's new york and paris, and even Hong Kong, because PEOPLE WANT TO LIVE THERE.
There is money to be make. The life is good. The living standards are good. Culturally is rich.
But most of all - these are places where WEALTH ORIGINATES. They pump out cash, they make money on their own, they have the knowledge, the spirit and they grow organically, there is NO NEED for any GOVERNMENT INTERVENTION - in face most times, government intervention just mess things up.
Singapore is a hydrophonic lettuce in a clinical glass house, everything is trial and error, and worse of all, everyone is ok with it, today IT, tomorrow life science, then after a factory in suzhou, then a casino, no make that two (for double sure!), let's promote creativity with the art fest and a big durian building, let's be gracious with a gracious campaign, speak English robots! no wait, speak Chinese, robots, it's cool.
to be able to swim, we need to get into the water and yes, even risk drowning, staying like chickens on the boat of the government is going to make the country sink like the titanic... |
we make a good living in singapore in a safe environment with no natural disasters....singapore has always come up as one of the best place to live in....and who are you to comment so negatively? probably some foreign talent who lives in rented flats....why dont you just go back to your own country...east timor or zimbabwe before you slam us again |
INVEST IN SINGAPORE! WE ARE SAFE AND HAVE NO NATURAL DISASTERS!
jia lat.... |
Not just invest in singapore. Now the idea is to ask these rich people to Settle in singapore. That is why property prices are not going to come down. the foreigners will continue to come and buy because their ang mo country stock market and currency are all falling. |
you seriously think they'll come here and settle down here?
THINK ABOUT IT - If your stock market and currency are falling like mad the first thing you would think of is to migrate (or invest in) to a low-crime country with no natural disaster???? That line of logic is so optimistically sad, it makes me feel so sorry for all of us.
I cannot believe you people are sooooo innocent! or in some serious denial... |
You are not an foreign talent so you will never understand the logic. I am innocent and I really think you are still the greatest and smartest person on earth. Really! No denial about it. |
Aiyo.... haiz... like talking to a retard. no hope liao.
can at least give some constructive debate or not? that's the problem - that's the real problem here. I raise a point - you give suan suan answer -
like dat how to progress?
fight me! tell me I'm wrong with facts! not with bad grammar and sacarsms.
(i know i sure kanna another smart alek reply... are we really so retarded that we can only behave like 12 year old? no wonder the ang mos laugh at us and take our high paying jobs and salaries) |
I give you Long Live Diva. Abandon Ship  |
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Guest
on 08 Jul 08 8:27 am
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| Anonymous wrote: | Hong Kong Stocks Fall to 15-Week Low; Developers Lead Declines
By Hanny Wan and Iris Leung
July 2 (Bloomberg) -- Hong Kong stocks fell, dragging the benchmark index to its lowest in 15 weeks, on concern higher borrowing costs will dent real estate demand and rising crude oil prices will erode earnings.
New World Development Co., the developer controlled by billionaire Cheng Yu-tung, dropped to an 18-month low after Hong Kong Economic Journal said yesterday HSBC Holdings Plc plans to raise mortgage rates. China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co., the nation's largest refiners, declined after oil prices climbed for a second day.
``I cannot see any good news for the property sector at the moment, as the turnover is small, the mortgage rates are rising and the market sentiment is still poor,'' said Benjamin Tam, a portfolio manager at IG Investment Ltd., which holds about $1 billion of stocks.
The Hang Seng Index lost 219.34, or 1 percent, to 21,882.67 at the 12:30 p.m. break, headed for its worst close since March 20. The Hang Seng China Enterprises Index, which tracks so-called H shares of mainland Chinese companies, dropped 2.2 percent to 11,649.70.
Markets were closed yesterday for a holiday.
Aluminum Corp. of China Ltd., China's largest producer of the metal, and known as Chalco, retreated to the lowest in 14 months after Credit Suisse Group cut its second-quarter profit estimate for U.S. aluminum producer Alcoa Inc.
New World
New World dropped 4.2 percent to HK$15.22, set for its lowest close since Dec. 19, 2006. The stock was the Hang Seng Index's second-largest percentage loser today. Sino Land Co., a Hong Kong-based developer, fell 2.2 percent to HK$15.16, set for its worst close since Aug. 17.
HSBC, the third-largest mortgage lender in Hong Kong, plans to raise the rate it charges on such loans in the city within a week, Hong Kong Economic Journal reported yesterday, citing Executive Director Peter Wong. Standard Chartered Plc and Wing Lung Bank Ltd. have raised mortgage rates by 15 basis points and 25 basis points respectively, the newspaper said.
Hong Kong's banks cut their lending rates seven times between September and March, tracking the city's de facto central bank.
Sinopec retreated 3.2 percent to HK$7.07, set for its worst close since May 26. The stock was the Hang Seng Index's No. 3 percentage loser today. PetroChina declined 1.7 percent to HK$9.93.
Cnooc Ltd., China's biggest offshore oil producer, added 5.1 percent to HK$14.10, making it the largest percentage gainer on the Hang Seng Index.
Aluminum Stocks
Crude oil futures rose 0.7 percent to $140.97 a barrel in New York yesterday. The contract was recently at $142.34 in after-hours trading. Oil touched a record $143.67 on June 30.
Chalco dropped 1.5 percent to HK$8.86, headed for its lowest close since April 20, 2007. Alcoa fell the most in two weeks in New York trading yesterday after Credit Suisse cut its second-quarter profit estimate, citing the slowing U.S. economy and rising raw-material prices.
Thirty-one stocks on the 43-member Hang Seng Index declined while 11 climbed. July futures slipped 0.9 percent to 21,930.
The following stocks rose or fell. Stock symbols are in brackets after company names.
Cathay Pacific Airways Ltd. (293 HK) added 1.1 percent to HK$15.02. Hong Kong's largest airline said during the trading break that its earnings this year, including in the first half, will be ``disappointing'' because of higher fuel prices.
Galaxy Entertainment Group Ltd. (27 HK), a Macau casino operator, lost 35 cents, or 6.9 percent, to HK$4.70, set for its lowest close since Jan. 9, 2006. The company laid off 270 employees from its President and Grand Waldo casinos in Macau to cut costs, the Apple Daily newspaper reported yesterday, citing the company.
Separately, UBS AG lowered its rating on the stock to ``neutral'' from ``buy,'' according to the brokerage's report today.
Guangzhou Shipyard International Co. (317 HK), a maker of tankers, retreated HK$1.22, or 6.1 percent, to HK$18.78, headed for its lowest close since March 25. The company will sell stock to existing shareholders to fund the purchase of affiliate Guangzhou Wenchong Shipbuilding Ltd. in a reorganization of China's biggest maker of marine vessels. Guangzhou Shipyard said yesterday it will offer shareholders the right to three shares for every 10 held, without giving a price.
Melco International Development Ltd. (200 HK), controlled by the son of Macau gaming tycoon Stanley Ho, plunged 67 cents, or 8.9 percent, to HK$6.83, set for its worst close since Dec. 15, 2004. UBS cut its rating on the stock to ``neutral'' from ``buy,'' according to the brokerage's research note today. |
So much for Property and Casinos....stuck stuck stuck. Down Down Down. |
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Guest
on 08 Jul 08 9:55 am
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| Anonymous wrote: | | Anonymous wrote: | Hong Kong Stocks Fall to 15-Week Low; Developers Lead Declines
By Hanny Wan and Iris Leung
July 2 (Bloomberg) -- Hong Kong stocks fell, dragging the benchmark index to its lowest in 15 weeks, on concern higher borrowing costs will dent real estate demand and rising crude oil prices will erode earnings.
New World Development Co., the developer controlled by billionaire Cheng Yu-tung, dropped to an 18-month low after Hong Kong Economic Journal said yesterday HSBC Holdings Plc plans to raise mortgage rates. China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co., the nation's largest refiners, declined after oil prices climbed for a second day.
``I cannot see any good news for the property sector at the moment, as the turnover is small, the mortgage rates are rising and the market sentiment is still poor,'' said Benjamin Tam, a portfolio manager at IG Investment Ltd., which holds about $1 billion of stocks.
The Hang Seng Index lost 219.34, or 1 percent, to 21,882.67 at the 12:30 p.m. break, headed for its worst close since March 20. The Hang Seng China Enterprises Index, which tracks so-called H shares of mainland Chinese companies, dropped 2.2 percent to 11,649.70.
Markets were closed yesterday for a holiday.
Aluminum Corp. of China Ltd., China's largest producer of the metal, and known as Chalco, retreated to the lowest in 14 months after Credit Suisse Group cut its second-quarter profit estimate for U.S. aluminum producer Alcoa Inc.
New World
New World dropped 4.2 percent to HK$15.22, set for its lowest close since Dec. 19, 2006. The stock was the Hang Seng Index's second-largest percentage loser today. Sino Land Co., a Hong Kong-based developer, fell 2.2 percent to HK$15.16, set for its worst close since Aug. 17.
HSBC, the third-largest mortgage lender in Hong Kong, plans to raise the rate it charges on such loans in the city within a week, Hong Kong Economic Journal reported yesterday, citing Executive Director Peter Wong. Standard Chartered Plc and Wing Lung Bank Ltd. have raised mortgage rates by 15 basis points and 25 basis points respectively, the newspaper said.
Hong Kong's banks cut their lending rates seven times between September and March, tracking the city's de facto central bank.
Sinopec retreated 3.2 percent to HK$7.07, set for its worst close since May 26. The stock was the Hang Seng Index's No. 3 percentage loser today. PetroChina declined 1.7 percent to HK$9.93.
Cnooc Ltd., China's biggest offshore oil producer, added 5.1 percent to HK$14.10, making it the largest percentage gainer on the Hang Seng Index.
Aluminum Stocks
Crude oil futures rose 0.7 percent to $140.97 a barrel in New York yesterday. The contract was recently at $142.34 in after-hours trading. Oil touched a record $143.67 on June 30.
Chalco dropped 1.5 percent to HK$8.86, headed for its lowest close since April 20, 2007. Alcoa fell the most in two weeks in New York trading yesterday after Credit Suisse cut its second-quarter profit estimate, citing the slowing U.S. economy and rising raw-material prices.
Thirty-one stocks on the 43-member Hang Seng Index declined while 11 climbed. July futures slipped 0.9 percent to 21,930.
The following stocks rose or fell. Stock symbols are in brackets after company names.
Cathay Pacific Airways Ltd. (293 HK) added 1.1 percent to HK$15.02. Hong Kong's largest airline said during the trading break that its earnings this year, including in the first half, will be ``disappointing'' because of higher fuel prices.
Galaxy Entertainment Group Ltd. (27 HK), a Macau casino operator, lost 35 cents, or 6.9 percent, to HK$4.70, set for its lowest close since Jan. 9, 2006. The company laid off 270 employees from its President and Grand Waldo casinos in Macau to cut costs, the Apple Daily newspaper reported yesterday, citing the company.
Separately, UBS AG lowered its rating on the stock to ``neutral'' from ``buy,'' according to the brokerage's report today.
Guangzhou Shipyard International Co. (317 HK), a maker of tankers, retreated HK$1.22, or 6.1 percent, to HK$18.78, headed for its lowest close since March 25. The company will sell stock to existing shareholders to fund the purchase of affiliate Guangzhou Wenchong Shipbuilding Ltd. in a reorganization of China's biggest maker of marine vessels. Guangzhou Shipyard said yesterday it will offer shareholders the right to three shares for every 10 held, without giving a price.
Melco International Development Ltd. (200 HK), controlled by the son of Macau gaming tycoon Stanley Ho, plunged 67 cents, or 8.9 percent, to HK$6.83, set for its worst close since Dec. 15, 2004. UBS cut its rating on the stock to ``neutral'' from ``buy,'' according to the brokerage's research note today. |
So much for Property and Casinos....stuck stuck stuck. Down Down Down. |
Don't post old news to confuse people, Hong Kong stocks recovered strongly from Mon 7 July onwards. How to make people believe you if you behave like a kid throwing temper? |
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