| 09/07/2004 6?:30 am With Nasdaq and Dow heading south, some tech stocks could be hit at the opening. Snowcity is trading today and is offered at $0.255 which is priced at lower end of PE when compared to Giant Wireless and Nera Tel. Range trading likely for this session after opening weakness. The next IPO after Snow city are Techcomp, China Paper and DAKA, priced at $0.40, $.365 and $0.20 respectively. 28/06/2004 6:15 am With the school holidays behind us and the Euro2004 ending, the local bourse may see some life soon. When the Fed meets tonight and tomorrow, the bets are out for a rate hike of 25 basis points. This anticipated move may be healthy for the market as the Fed's intention were talked about for months and buy on news could be the order of the day. The recent IPO Telechoice offered at $0.29 was battered down to $0.255 and at current price it is undervalued compared to Singtel and M1. ACCS which is into phone repair is the nearest comparison in terms of market size. The next IPOs are Jets offered at $0.20 and Guangzhao Industrial Forest Biotechnology Group offered at $0.22. Both are reasonably priced at pe of 8-10 times and how well the do will depend on market sentiments at the day of trading. 31/05/2004 Monday 11:30 pm What a dull day and this is just the start of a long listless summer. Whilst the bulls are still out there for the long term, the near term picture is trendless and a consolidative pattern is seen on most charts. China stocks are getting out of fashion as more and more ipos come into the market. The next two issues are expected to be unexciting and if the performance of Jishan, China Cast are anything to go by, expect limited upside. The NASDAQ and Dow are showing signs of resilience but with the next FOMC meeting coming up in June, any sharp moves up is not expected. Oil price are climbing up and this is another obstacle facing the bulls. In all, expect another boring day ahead. The US markets are closed for Memorial Day. As for us, tomorow is Vesak Day. A Happy Vesak day to one and all. IPOs : China Petrotech offers 62 million shares priced at $0.34. The public portion is 5 mln and placement is 57 mln shares. The company provides IT solutions for the China oil and gas sector. Net profit for 2003 is RMB 30.1 mln. Historical PE is 10.47 times. Market cap based on 244 mln shares is $83.1 mln. The major customers are Sinopec, CNOOC group and PetroChina. Competitors are Beijing Jurassic Software, JingPeng Software, Xian Carbonsoft (domestic), Schlumberger and Landmark Graphics (foreign). The IPO closes on 7 June. Gates Electronics offers 14 mln shares at $0.20. Due to small size of this IPO, the over-subscription rate could be high but it may not be indicative of the attractiveness of the company. The company engages in distribution of electronic products and parts. PE is 8.89 times and Market cap based on 69mln shares is $13.86 mln. Net profit for 2003 is $1.244 mln. Major customers include Wheels Electronics, Venture, Kong Tak Electronics. Competitors are Arrow Electronics, Future Electronics and Excelpoint. The IPO close on 8 June. 08/02/2004 Sunday 05:45 pm Sunday 5:05 pm 08/02/04 With Wall street having a field day at the back of 'friendly' job numbers, our bourse could be in for a ride on Monday. Significantly, the day is expected to be timed just right for the next ipo UTAC as the US Philadelphia semi-con index surges by 4.78% on Friday. The IPO is issued at $0.83 and analysts are comparing it to the bigger rival STATS. Next week could see a hive in IPO activities as AEI, China Flexible and Elite offers are traded. Bank stocks which were clobbered could see some retracement as the general trend for the market stays firm and bullish. Tech stocks are also expected to show some upside as Chartered Semi-con and Stats could show leadership. Monday 9:45 pm 15/12/2003 CME ipo traded in a lacklustre manner which was disappointing for stags who have gotten used to gains of more than 50% on opening day. The next ipo is Hi-P which is a large issue and is priced at $0.57. PE is near 12 times based on FY 2003 projected results of profit after tax of $35.2 mln. The issue is expected to be well taken up by funds. Meanwhile markets around the world may rejoice at the capture of Saddam but the focus could shift back to real economic issues later this week. Previous commentaries DISCLAIMER This is a free site and all views expressed here are not an inducement to trade or invest. The reader should be aware that investment and share trading have inherent risks and the author shall not be responsible for gains or losses incurred whatsoever. |
| Tanker's Elliott Wave Free Site |
|
| Free E-Mails are sent to those on mailing list. For those who are interested to be on mailing list, please provide full name, age and occupation to tanker333@hotmail.com |