Tag Archive | "STI index"

US stocks pummeled by bleak jobs data

US stocks pummeled by bleak jobs data

US stocks closed more than two percent lower on Friday after a disappointing report on the United States’s labor market showed that job creation ground to a halt in August.

The Dow Jones Industrial Average was down 251.57 points (2.19 percent) to 11,242.00 in closing trade.

The broader S&P 500 fell 30.48 points (2.53 percent) to 1,173.94, while the tech-heavy Nasdaq Composite dropped 66.01 points (2.59 percent) to 2,480.03.

Stocks dived after the highly awaited US non-farm payrolls report revealed that the US economy created no jobs in August, leaving the unemployment rate at a stubbornly high 9.1 percent.

Taking lead from the neagtive US news, Singapore market likely to open negative in the absence of fresh leads on Monday September ,05 2011.

adapted from Yahoo finance

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Singapore Stocks-Down at midday in choppy trade; 3,000 support seen

Singapore shares slipped 0.2 percent by the midday on Thursday in choppy trade, as Moody’s warning that it may downgrade its credit rating for the U.S. spurred fund outflows from Asian equities into safe-haven assets.

By the midday break, the Straits Times Index (STI) was down 7.15 points at 3,081.27. The total value of shares traded in the morning session was S$486.3 million, down from S$558.4 million on Wednesday.

The STI is expected to find support at 3,000, but the afternoon session may see the index extend its losses, traders said.

“The market is running out of postive catalysts. There’s still the fear that investors will sell into any rebound,” said Carey Wong, an investment analyst at OCBC Investment Research.

The risk of a lower credit rating for the U.S. overshadowed Federal Reserve Chairman Ben Bernanke’s suggestion, in testimony to Congress, that the central bank could provide more stimulus if the economy weakens further.

“Although the U.S. markets ended higher overnight, stock index futures dropped sharply after that, suggesting that optimism in the U.S. isn’t strong enough to carry through to this region,” Wong said.

With the lack of positive news, many investors are switching into defensive plays like telecommunications firms that have higher dividend yields, Wong said. StarHub , was up 0.36 percent at S$2.78.

Chinese shipbuilder Yangzijiang fell 2.2 percent to S$1.34 by the midday, on concerns that a slowing economy in the United States and China would dampen global trade and hurt orders for ships.

However, wastewater treatment firm HanKore Environment Tech Group bucked the trend and jumped 5 percent to a two-month high after it said it had reached a deal with a provincial government in China that will allow it to invest in environmental projects.

HanKore said it had signed a strategic cooperation agreement with China’s Xianyang City Environmental Protection Bureau that will give it preferential rights to invest in environmental projects in Xianyang City, with a total value of not less than 1 billion yuan within five years. (Reporting by Charmian Kok)

Adapted from Reuters.

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Weighed by weaker palm oil, 3,028 support eyed

Weighed by weaker palm oil, 3,028 support eyed

Singapore shares fell 0.8% by midday on Monday, weighed by weaker palm oil prices, although shipbuilder Cosco Corp (COSC.SI) surged after the company secured a major rig contract provided some support for the market.

Wilmar International (WLIL.SI), the world’s largest listed palm oil firm, fell 1.7% to $5.27, hurt by lower palm oil futures on expectations of higher output and lacklustre demand in March.

Smaller rival Golden Agri Resources (GAGR.SI) also retreated 1.5% to $0.68 with over 27.6 million shares traded.

By the midday break, the Straits Times Index (STI) was down 23.45 points at 3,047.39. The total value of shares traded in the morning session was $704.2 million, down from $845.3 million on Friday.

“The lethargic performance today may be attributable to uncertainties within the market, particularly from the Middle East and Europe regions,” said Ng Kian Teck, an analyst at SIAS Research.

With the index having gained almost 5% last week, dealers said some retail investors decided to take profits due to lack of positive catalysts.

Ng said he expects the STI to continue trading in negative territory in the afternoon with support at 3,028.

“Markets has more or less settle down on the ongoing Japanese nuclear issue. With the market having risen a little, I think some investors are taking some money off the table,” said a local trader.

Shares Chinese shipbuilder Cosco surged as much as 4.5% and hit a one-month high after it signed an agreement to build two rigs worth $1.05 billion, prompting CIMB to upgrade its rating to neutral from trading sell.

At the midday, shares of Cosco were 2% higher at $2.05 with nearly 23 million shares changing hands.

Shipbuilder STX OSV (STXO.SI) rose as much as 2.6% on Monday to a one-month high after it said it had secured a contract to build a platform supply vessel, traders said.

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STI Constituent Weightings(As of 24/08/2010)

STI Constituent Weightings

STI is a market capitalization weighted index and involves the total market capitalization of the companies weighted by their effect on the index. This means that larger stocks would make more of a difference to the index as compared to a smaller market cap company. (E.g. Capitalland (4.88%) will need to move “2 times more” as compared to Singtel (9.78%) in order to shift the STI)

STI Reserve List contains the next 5 highest ranked companies by full market capitalisation –KeppelLand ,Yangzijiang Shipbuilding Holdings, Ascendas Real Estate Investment Trust,Yanlord Land Group and Parkway Holdings.

It is always good to know what the respective weightage are for individual company and their effects on STI especially when trading STI ETF.

Rank Constituent Name Subsector Name Weight in Index (%)
1 Singapore Telecom Fixed Line Telecommunications 9.78
2 DBS Group Holdings Banks 9.59
3 Oversea-Chinese Banking Banks 8.47
4 United Overseas Bank Banks 8.44
5 Wilmar International Limited Food Products 6.76
6 Capitaland Real Estate Holding & Development 4.88
7 Jardine Matheson Diversified Industrials 4.64
8 Hong Kong Land Real Estate Holding & Development 4.55
9 Keppel Corp Diversified Industrials 4.1
10 Noble Group Diversified Industrials 3.76
11 Singapore Airlines Airlines 3.68
12 Singapore Exchange Investment Services 3.3
13 City Developments Hotels 2.8
14 Fraser and Neave Diversified Industrials 2.45
15 Singapore Press Holdings Publishing 2.37
16 Jardine Strategic Diversified Industrials 2.36
17 Golden Agri-Resources Farming & Fishing 2.02
18 Singapore Technologies Engineering Aerospace 1.88
19 Genting Singapore Recreational Services 1.77
20 CapitaMall Trust Retail REITs 1.71
21 Jardine Cycle & Carriage Specialty Retailers 1.52
22 Olam International Food Products 1.51
23 CapitaMalls Asia Real Estate Holding & Development 1.44
24 SembCorp Industries Diversified Industrials 1.38
25 Sembcorp Marine Commercial Vehicles & Trucks 1.3
26 ComfortDelgro Corp Travel & Tourism 1.27
27 Neptune Orient Lines Marine Transportation 0.79
28 StarHub Mobile Telecommunications 0.59
29 SMRT Corp Travel & Tourism 0.59
30 SIA Engineering Transportation Services 0.31
Total 100

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Symbol Bid Ask Spread
EURUSD 1.22400 1.22420 2
GBPUSD 1.38880 1.38910 3
USDCAD 1.24320 1.24350 3
USDJPY 111.030 111.050 2
USDCHF 0.95850 0.95880 3
AUDUSD 0.79940 0.79970 3
NZDUSD 0.73060 0.73110 5
EURGBP 0.88110 0.88140 3
EURCHF 1.17340 1.17370 3
EURJPY 135.900 135.930 3
AUDJPY 88.760 88.810 5
GBPJPY 154.200 154.260 6
XAUUSD 1328.03 1328.43 40
XAGUSD 16.941 16.991 5