My prediction for a short-term correction to 3,185-3,150 has come true, so what can we expect from now on? Before we start reading into the “crystal ball”, we must ask ourselves a few questions – million dollar questions – that will dictate the direction of the stock market.
The sharp 22bp rise in NIM and continued strong loan-related fee income came as positive surprises. We remain positive on UOB – it’s best bet against any further deterioration in the US subprime crisis.
For those who are unaware, we will be launching our very own web portal, www.sharesinvestment.com, on 26 May 2008. Although anyone can freely access the aforesaid website, only those who subscribe to Shares Investment (Singapore) will get to enjoy additional features.
SMB United (SMB) recorded 1Q08 net earnings of $2.7m, compared to a loss of $1m for 1Q07. The first quarter is traditionally SMB’s slow season, so we did not expect it to contribute much to our full-year forecast of $17.9m.
Cost of a barrel of oil has breached the US$120 mark and analysts are expecting oil prices to reach US$200 by the end of the year. This would further increase the prices of commodities such as wheat and rice, as farmers need oil to process their harvests.
SWFs are undeniably a formidable presence in markets and their financial muscle is expected to bulk up further, thanks to a steady rise in their number as well as assets under control.
Since making its way onto the Singapore Exchange in November 2005 at $0.30 per share, Pacific Healthcare has been raking in respectable earnings year after year. Nonetheless, the company’s bottom-line growth is far from being spectacular.
The earthquake in China’s Sichuan province has resulted in huge losses in human lives. It is a tragedy for humankind but global stock markets staged a rally despite the many deaths being reported. What are the hot spots that we should be looking out for?
