Home THE DAILY EDGE Business STI +0.3%; 3,184 resistance; Shipbuilders active
STI +0.3%; 3,184 resistance; Shipbuilders active

Tags: Cosco Corporation (S) | Cosco Corporation (Singapore) | Jes International Holdings | Yangzijiang Shipbldg Hldgs | Yangzijiang Shipbuilding

Written by The Edge   
Monday, 04 October 2010 09:35
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Singapore stocks in broad-based advance, with almost 4 gainers for every decliner, says Dow Jones.

STI +0.3% at 3,139.08, with resistance expected at 3,184 (peak at June 6, 2008).

“It’s not a strong start for the week but considering that the index is already at its highest in more than two years, the performance is credible. With third-quarter earnings up ahead, the market could head higher if results beat expectations and guidance is strong,” dealer says.

Chinese shipbuilders active following China’s announcement of US$5 billion ($6.6 billion) fund to help Greek shipping companies buy Chinese vessels. Cosco (F83.SG) +2.2% at $1.85, JES (EG0.SG) +2.9% at $0.36, Yangzijiang (BS6.SG) +1.1% at $1.80.

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STI +0.3%; 3,184 resistance; Shipbuilders active
Monday, 04 October 2010

Last Updated on Monday, 04 October 2010 09:35