| 07/04/2002 Thursday 06:00 am Thursday 6:00 am The Dow and NASDAQ ended higher despite concerns that terrorists may attack US or its citizen on July 4th which is their Independence Day. The stronger close bodes well for our markets and blue chips as well as tech stocks which were battered, i.e. Chartered, Stats, Creative, Venture, Ellipsiz may see a rebound over the short term. Banks such as DBS and UOB are also deeply oversold and could see some adjustment as funds look for buying opportunities. Looking as the US corporate problems in perspective, it seems that they are company specific and does not show a slackening corporate disclosure across the board. Most companies have disclosures and guidance which are used as guidelines by stock exchanges across the globe. US futures exchanges are noted for the tight surveliences for fraud and with measures in place, problems related to Enron, Worldcom may be limited in numbers. In any case, this should not distract us from our markets which ha gone into hibernation during the world cup. There could be renewed interest with new IPOs coming into the markets, notably those which are into water processing or salination. Overall, expecting a better close for this week as STI is showing a reversing pattern. A final word about the World Cup: Two former football stars, Maradona and Johan Cruff comments on Brazil looks to me like men trying to remind the world how great they used to be. There is no doubt that they were great during their heydays but for now the men of the moments are: Rivaldo, Ronaldo, Cafu, Gilberto Silva, Kleberson, Denilson, Edilson, Marcos, Edmilson, Lucio, Roberto Carlos, Roque Jr., Juninho,Ronaldinho, Dida, Kaka, Junior, Ricardinho, Belleti, Anderson Polga, Vampeta, Luizao and third reserve goalkeeper Regerio. And not forgetting the Brazilians stars of the past: Pele, Garrincha, Bebeto, Romario, Eder, Socrates, Jairzinho, Rivelino, Leao, Dirceu, Edinho, Branco, Careca, Jorginho, Zico, Falcoa, Junior (1982 team), Leandro, Aldair, Cerezo, Gerson, Tostao, Vava, Dunga, Marcio Santos, Carlos Alberto, Clodoado and etc. Previous commentaries |
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