Pullback by DJIA, S&P 500 overnight may prompt investors to take profits on Singapore shares after yesterday’s strong run-up, which lifted STI to highest level since January 2008, +1.9% at 3,300.40.
Support for benchmark eyed at yesterday’s 3,257 intraday low. Local corporate earnings will continue to be in focus, with Sembcorp Industries (U96.SG), Armstrong Industrial (A14.SG) among latest to report results.
Video game hardware and software sales continue to suffer declines, but sales of accessories picked up in September. – A struggling video game industry saw another decline in the month of
September, with hardware sales plunging nearly 20 percent to $383 million,
compared with $472 million in September 2009. Video game software sales fell 6
percent to $614 million, from $649 million the previous September. And tot…
Singapore shares may track modest pullback by US stocks overnight, although market’s undertone in near term expected to remain firm given improving risk appetite, says Dow Jones.
STI, down 0.2% at 3,195.02 yesterday, likely to hold above 3,160 (October 13 low), with immediate resistance for any upside at year-to-date high of 3,220.
Mixed session on Wall Street may prompt investors to take some profits off Singapore shares in early trade, says Dow Jones.
Ahead of Singapore’s earnings season starting next week, investors expected to take cues from economic data, with surprise fall in US September private-sector employment potentially keeping sentiment guarded.
Profit-taking in Singapore may surface in early trade with shares now at 27-month high, especially in wake of retreat in US stocks, says Dow Jones.
Support for STI, up 0.7% at 3,113.46 yesterday (highest since June 2008), expected at last week’s 3,069 low. Any upside expected to meet resistance at 3,146, higher end of breakdown gap formed in June 2008.
Singapore shares may pull back given Wall Street’s overnight retreat, lack of leads from Asia with number of markets shut for holidays, says Dow Jones.
Firm support for STI, which ends flat at 3,096.10 yesterday, at August high of 3,043. Any upside may be capped at yesterday’s new year-to-date 3,116 intraday peak.
“It will be a lonely ride for Singapore with the key Asian markets closed today. I suspect the blue chips will be subdued while the lower liners will continue to draw interest,” says a local house trader.
Among smaller-cap stocks, Technics Oil & Gas (5CQ.SG) may be in focus as equipment supplier to energy sector secures $35 million contract to support oil field in offshore Vietnam; stock ends down 0.6% at $0.895. Biosensors (B20.SG) may also be closely watched as heart-stent maker reveals findings endorsing efficiency of its stent system; stock ends +1.6% at $0.985.
{jcomments on}
Sentiment on Singapore bourse supported by Asia-wide advance, with small caps again driving volume, according to Dow Jones.
STI +0.3% at 3,077.78 midday, expected to hold below 3,100 for rest of session.
“The STI’s trend is still positive, but shorter-term price action shows a shrinking average range. A minor pullback would still be normal at this point given that broader markets are also consolidating,” says Phillip Securities.
Increased competition in Singapore’s telecom market with launch of country’s high-speed national broadband network may weigh on shares of telcos, especially SingTel (Z74.SG), Starhub (CC3.SG), says Dow Jones.
Network’s broadband speeds much faster than those offered by both telcos’ older systems. Roll-out has already prompted SingTel to launch new broadband packages. M1 (B2F.SG), new entrant in consumer Internet services market, has also introduced broadband plans. Starhub will unveil new line-up tomorrow.
Singapore shares likely to slide as record drop in US existing home sales for July aggravating already-jittery investor sentiment, says Dow Jones.
If STI, which closed down 0.1% at 2,922.85 yesterday, fails to hold above 2,900, next support tipped at 2,875 (lower end of breakup gap formed July 7).
“The opening will be weak but there might be some buying on dips as the day goes on. Shares here have been holding relatively well despite the slew of disappointing US economic data in recent weeks, so we might still be able to see some resilience,” says dealer at foreign brokerage.
Singapore shares may pull back in early trade on DJIA’s fall Friday sparked by lingering unease over global economic prospects, according to Dow Jones.
Support for STI, which closed down 0.4% at 2,936.48 Friday, remains at 2,900, with any upside likely capped at 2,969 (Aug 11 high).
“The STI has now transited into a consolidation phase,” says OCBC Investment Research analyst Philip Teo, noting index’s tight 2,915-2,952 trading band last week: “This suggests that the 15% rally from end May to early August might have exhausted and the index could be taking a breather before extending a further correction in the weeks ahead.”
Singapore shares may retreat on weaker-than-expected US economic data, which weigh on US stocks overnight, according to Dow Jones.
STI at risk of slipping below psychologically important 3,000 mark after holding above that level for last 2 sessions. Initial support at 2,979 (July 30 low), with any upside expected to be capped at year-to-date intraday high of 3,043 set yesterday, when index ends down 0.3% at 3,014.77.
Mild decline by US stocks overnight may mean cautious start for Singapore shares, according to Dow Jones.
STI’s recent attempts to clear 3,000 may be prolonged as index heavyweight DBS (D05.SG) may weigh given bank’s surprise 2Q10 $300 million loss due to $1.02 billion goodwill impairment charge taken for HK business; shares closed down 0.1% at $14.50.
Singapore stocks may slip after Wall Street’s mixed performance overnight, says Dow Jones.
With Moody’s downgrading Greece’s debt rating to junk-grade status, investors may again take Europe’s debt problem as signal to sell.
Singapore shares may retreat slightly as investors digest some of yesterday’s robust gains, with Wall Street’s modest rise overnight not likely to fuel another round of strong buying activity, according to Dow Jones.
Renewed concerns over Greece’s debt problems may mitigate any boost to Singapore shares from Wall Street’s modest gains overnight. Early decline in Japan bourse may also weigh, says Dow Jones.
The video game industry continues to struggle as hardware sales, software sales and overall sales fall again, tumbling 15 percent in comparison to February 2009.
– Sales in the beleaguered video game industry continued their
decline, with February sales down 15 percent compared with the same
period last year, the NPD Group reported. Overall sales fell to $1.26
billion from $1.48 billion in February 2009, while hardware sales and
software sales saw declines…
THE BARR BROTHERS To Open For THE LOW ANTHEM
Surprise Me Mr. Davis & The Slip Announce Dates
 The Barr Brothers at FME Festival |
Guitarist Brad Barr and drummer Andrew Barr, best known as founding members of revered rock bands The Slip and Surprise Me Mr. Davis, are adding a third act to their repertoire. In the long tradition of brothers who’ve assumed their surname as a moniker, The Barr Brothers introduce themselves with a string of West Coast and Canadian shows opening for The Low Anthem.
The seeds for The Barr Brothers were first sown five years ago when Brad and Andrew relocated to Montreal. Brad’s apartment shared an adjoining wall with harpist Sarah Page. The two would hear each other practicing through the cracks. Sarah’s gentle melodies began weaving their way into the music that Brad was writing. A friendship was struck and songs were born. This latest endeavor for Brad and Andrew finds them exploring sounds quieter and more ethereal than anything in their previous work. Final touches are currently being added to a debut recording that will be released later this year.
Brad and Andrew Barr remain equally committed to their other bands, as well. Plans will be announced in the coming weeks for Surprise Me Mr. Davis tour dates and EP release, while work is also underway on the next full-length studio album by The Slip. Both The Slip and Davis have dates listed below, including some special Jazz Fest night engagements.
The Barr Brothers Tour Dates:
03.24 | Coronet @ Largo | Los Angeles, CA*
03.25 | Bootleg | Los Angeles, CA*
03.26 | Great American Music Hall | San Francisco, CA*
03.28 | Doug Fir Lounge | Portland, OR*
03.30 | St. James Hall | Vancouver, Canada*
03.31 | Crocodile Cafe | Seattle, WA*
04.10 | Church Of The Redeemer | Toronto, Canada*
04.12 | Eglise du Gesu | Montreal, Canada*
04.27 | The Saturn Bar | New Orleans, LA**
*w/ Low Anthem & Timbre Timbre
**w/ Rotary Downs
Surprise Me Mr. Davis Tour Dates:
04.13 | Club Passim | Boston, MA
04.14 | Red Square | Albany, NY
04.15 | Firehouse 13 | Providence, RI
04.16 | Union Hall | Brooklyn, NY
04.17 | Mercury Lounge | New York, NY
04.24 | Tipitina’s French Quarter | New Orleans, LA
04.30 | Hi Ho Lounge | New Orleans, LA
07.01 | High Sierra Music Festival | Quincy, CA
07.04 | High Sierra Music Festival | Quincy, CA
The Slip Tour Dates:
04.24 | Tipitina’s French Quarter | New Orleans, LA
(with Surprise Me Mr. Davis)
07.01-07.04 | High Sierra Music Festival | Quincy, CA
High Sierra Music Festival Initial Lineup
The 20th Annual High Sierra Music Festival has announced the following acts. There will be many more to follow:
 HSMF 2009 by Krolick |
The Avett Brothers
Ozomatli
Femi Kuti and Positive Force
Railroad Earth
Bela Fleck, Zakir Hussain, and Edgar Meyer
Dr. Dog
Karl Denson’s Tiny Universe
Trombone Shorty & Orleans Avenue
Cornmeal
Blitzen Trapper
The New Mastersounds
March Fourth Marching Band
Nels Cline Singers
The Infamous Stringdusters
Surprise Me Mr. Davis
The Slip
BLVD
Beats Antique
Telepath
Carolyn Wonderland
Darol Anger’s Republic Of Strings featuring Sharon Gilchrist
Great American Taxi
Nathan Moore
Johnny Vidacovich, Robert Walter Duo
Big Light
Trampled By Turtles
Zach Deputy
and many more to come!
Discount early-bird tickets are on sale now and available here.
Fore more on High Sierra see our coverage of the 2009 event here.
HP, Dell and Acer outpace Apple as low-priced mininotebooks and netbooks find favor in place of pricey Macs.
– Worldwide PC shipments surpassed 90 million units in the fourth quarter of
2009, a 22.1 percent increase from the fourth quarter of 2008, according to
preliminary results by technology research and analysis firm Gartner the
strongest quarter-over-quarter growth rate the worldwide PC market has
e…
Olam (O32.SG) may slip as news of acquisition of Nigerian wheat miller Crown Flour Mills (CFM) may not be enough to excite amid likely lackluster broader market, says Down Jones.
Commodity supply chain manager plans to buy CFM for US$107.6 million ($149 million), among the three largest wheat millers in Nigeria, supplying bread flour, noodle flour and semolina to industrial users, wholesalers.
