Darko Elez has been sentenced to nine years in prison for drug trafficking and extortion and other crimes, by the Special Court in Belgrade.
Beside Elez, five members of his criminal group also received sentences ranging from one to six years in prison.
STI +0.2% at 3186.11 in broad rebound with over 3 gainers for every decliner, 386 million shares traded worth $392 million, says Dow Jones.
“We’re just following the US,” says dealer at local brokerage after DJIA closed +1.2%. Raft of economic data from China due shortly, including CPI, 3Q GDP, likely to set market tone for rest of session, dealer adds.
Singapore stocks remain in demand, underpinned by gains across Asian markets after Wall Street’s overnight rally, says Dow Jones.
STI +0.7% at 3,183.32 midday, faces immediate resistance at 3,200. Gainers outnumber decliners by more than 2 to 1 in broad market, with overall volume moderate.
Action in Singapore stock market notably subdued as investors generally staying on sidelines after digesting solid gains from past weeks, says Dow Jones.
STI +0.3% at 3,095.66 midday, but +5.3% since start of September, with support at last week’s 3,069 low.
"The index won’t come off too much because everyone knows this year is a good year for the Singapore economy," says a dealer at foreign brokerage; "we have had a good month in September. It’s time to take a break, have a Kit Kat, as it’s the end of the month."
Singapore shares still holding up well, though upside for blue chips appears limited as participants remain glued to small caps, penny stocks, says Dow Jones.
STI +0.4% at 3,078.06, expected to close below 3,100. FTSE ST Small Cap Index +0.8%, FTSE ST Catalist Index, which tracks penny plays, +1.6%.
“The market’s still fairly buoyant despite the STI holding at more than 2-year highs. Unless there’s some really nasty news, any pullback in the near term should be small,” says a local house dealer.
Notable gainers among lower liners include Biosensors (B20.SG), +17.3% at $0.985, DMX Technologies (5CH.SG), +22.9% at $0.43, China Energy (A0G.SG) +12.9% at $0.175.
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Ascott Residence Trust (A68U.SG) turns higher, last +1.7% at $1.17 vs down 2.6% at $1.12 earlier, drawing strength from broad market uptick, according to Dow Jones.
“Concerns of dilution and Ascott taking on more risk have been discounted. While having a big exposure to Europe will mean increased forex and operating risks, these have already been captured after the share price fall last month,” says a dealer at local brokerage.
Hisaka Holdings (FV2.SG) is up 11.3% at $0.345 on strong volume, says Dow Jones. Traders contacted offer different reasons for current keen interest.
“There’s no specific news, but I suspect it might be a rotational play on small listed counters of contract manufacturers,” says a dealer at local brokerage. Another dealer says investors may be hopeful maker of mechanical motion products could pursue TDR listing, while another tips potential M&A activity.
Tracking record is grave for an auto dealership and thus is a key purpose of car dealer software. While keeping an eye on when an automobile is get hold of or purchased by anyone is important for inner knowledge, the internet has made a incredible blow by raising the stipulate to share supply information with other or third parties.
Activity in Singapore market lower than usual as investors wait on sidelines for leads, including US August jobs report due later today, before making next move, according to Dow Jones.
STI off 0.2% at 2,982.05 midday vs +0.4% at 2,998.52 earlier; support at this week’s lowest close of 2,950 set Tuesday.
Singapore shares may edge higher, helped by modest gains on Wall Street despite more disappointing US economic reports, though participation could remain low as investors await more data, including US weekly jobless claims due later Thursday, before deciding next move, according to Dow Jones.
Resistance for STI, which closed +0.1% at 2,926.55 yesterday, tipped at last week’s 2,952 high, while support remains at 2,900. “Stocks here may be able to gain some ground. The blue chips, at least, managed to close slightly higher yesterday despite the weak US existing home sales report on Tuesday. It could be an indication that shares have already priced in negative data,” says dealer at foreign brokerage.
Olam (O32.SG) may be in focus as commodities trader due to report FY4Q results in midday break; closed +0.4% at $2.49.
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Raffles Education Corp (E6D.SG) is up 5.1% at 3-week high of $0.31 in active trade, says Dow Jones.
“It’s a laggard play,” says a dealer at foreign brokerage; notes stock may be benefiting from spillover effect of Informatics Education’s (I03.SG) recent rally.
Informatics +250% since July 21 as high-profile Singapore investor Peter Lim becomes substantial shareholder via series of purchases in open market.
Kreuz Holdings (5RK.SG) last +6.8% at $0.39 in active trade, building on recent momentum, according to Dow Jones.
Stock up as much as 12.5% since making debut on Thursday with $0.27 IPO price. “The stag sellers seem to have exited,” local house dealer says, referring to IPO subscribers offloading their shares shortly after debut, “those still buying are likely the serious investors willing to hold for the longer term.”
Singapore blue chips in play, with STI +0.6% at 2,943.17 midday. Immediate resistance at current July high of 2,958, says Dow Jones.
Still, activity in broad market sluggish, with market breadth tad negative, volume paltry at just 510.1 million shares worth $568.2 million.
“I guess people are still sticking to Singapore’s growth story, with inflation well contained, interest rates low and property prices still rocketing,” says dealer at foreign brokerage.
Singapore stocks off to wobbly start as players book some gains from yesterday’s run-up while keeping eye out for developments from China, including economic data, listing of Agricultural Bank of China (1288.HK), says Dow Jones.
STI last flat at 2,951.77 vs high of 2,953.89, low of 2,947.89, likely to hold above this week’s current low of 2,914, with 2,984 (April 30 high) capping any upside.
“I think people are still comfortable with the market, but they want leadership to emerge. There’s no clarity from the US side, with unemployment still remaining stubbornly high. The near-term focus will be on China,” says dealer at foreign brokerage.
NOL (N03.SG) top percentage decliner among blue chips, off 1.5% at $2.01, while banks, property stocks tad higher.
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Singapore economy’s robust 2Q10 performance, upgrade of 2010 GDP growth forecast bolstering sentiment in stock market, says Dow Jones.
STI last +0.6% at 2,946.55, with immediate resistance at 2,959 (May 4 high). Market breadth at 6 gainers for every decliner, gains broad-based.
Genting Singapore (G13.SG) is up 4.4% at 95 cents, the top percentage gainer among STI components.
Singapore stocks lower at end of morning session, reversing early gains, with few incentives to keep players invested. STI off 1.0% at 2,916.05 midday vs 2,959.70 earlier (+0.5%), according to Dow Jones.
Singapore shares likely to end lower as investors lie low amid weakness across Asian bourses, says Dow Jones.
The STI off 0.6% at 2,999.37, may close below 3,000 for first time in three days; firm support expected at this week’s low of 2,953. Most FTSE ST sub-indexes negative, with market breadth at 2.5 decliners for every gainer.
Gains in most Asian markets keeping Singapore shares in positive territory, although upside appears limited as investors not inclined to chase with no catalyst in sight, says Dow Jones.
The STI is up 0.4% to 2,899.62 as of 10:30 a.m., and is expected to hold above 2,850 (last closed below this level March 9), while any upside may be capped at around 2,900, reported Dow Jones.
