|March 7 2006 06?:15 pm
March 7 2006 6:30 pm The correction was rather steep and in some ways may have put a short term end to the rally of China stocks. China Fish moved down sharply and though looking toppish may see whippy moves for the rest of this week. CG Tech and China Essence remains on bull track although correction may see more room on downside tomorrow.
11/26/05 3:15 pm The Dow looks resilient as it pounded higher for the week ending 25 Nov 2005. The major resistance of 10700 was cleared effortlessly and next target lies at 10984. Our local bourse is now in a major consolidative phase and during this stage many analysts will get their calls wrong as they will be like the dog chasing its proverbial tial. There may be a lack of trend in the coming weeks and this means that trading could be become a tough game. Stay focus on trending stocks and leave out the weak ones.
05/20/05 6:15 am The Dow chalked gains of 28 points and Nasdaq ended in positive territory despite oil price stabilising from its drop on Wednesday. Today's IPO is Biosensor which is making medical stent and it is projected to make $39.8 for year 2004, (half year $19.9mln). The issue size if 870 mln and placement were taken up by institutions as well as retailers. Sentiments for IPO may improve with the sharp rebound in LongCheer and when the issue is finally settled, IPO's that are coming on-stream may see better performances than that of FerroChina and Multi-Con.
05/19/05 6:15 am The Dow and Nasdaq closed higher with Dell leading the way on a set of excellent results. This could see a spillover into tech stocks here. The interest shown in IPO have waned as evident in the poor performance of Multi-Con which came in at a low PE of 4.7 times. Sentiments have been affected by the plunge in LongCheer and unless the issue is resolved amicably, IPO sentiments may at best be lukewarm. Today will see the listing of FerroChina, a coiled-steel maker and some funds have picked up 30% of the IPO.
05/11/2005 10:15 pm Tomorrow may see interest in commodity-based stocks such as OLAM and the new IPO Pine Agritech. OLAM came out with outstanding results with 9 months revenue hitting $2.56 bln and profit after tax at $48.1 mln. Pine Agritech is offered at $0.575 which is lower in absolute term to OLAM which came in at $0.70 and it has seen interest from reputed investors such as ARANDA and NewSmith. Both took up 5% stake in Pine. Target for OLAM for medium term is at $1.00 and for Pine at $0.80.
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