| 09/05/2002 Thurs 02:30 pm Thurs The market is showing signs of resilience in some sectors. Speculative Links Isle show signs of turning around. Dayen order book boosted by new 62 mln contract and looks firm on charts. ST Engr is showing signs of bottoming at 1.53 and fundamentally stay sound. Chartered still on bear run and hard to pick how much lower and best to stay out. Tues Another bad day ahead as Wall Street takes a beating. This time around, the downside looks limited as our market had taken most of the hard knocks but with Chartered and Stats likely to come under more pressure, it would take a brave man to call for a market rebound. City Axis came out with better than previous year's results and it could hold against the bear tide. PCI made 3.6mln and that is also positive relative to last reporting. However, market sentiments being bearish could cap any adventure on upside. In all, another poor day as US shows signs that the economy is slowing its pace of recovery. Thurs Another bad day on Wall Street due largely to profit warning from Nortel. However, the market is oversold here and a rebound could come sooner than expected. Datacraft found support for the short term at 0.81 and see range 0.90 to 0.81 for the 1-2 days. There were heavy selling last week and some short covering is possible. Singtel has been downgraded by S&P and it could stay stuck range bound for short term. Pfood announced 26.2% rise in profit for the half year ending June 30 and this is positive for the stock. Goodpack also announced a good set of results. In all, expecting early weakness but short covering possible ahead of the weekend. Previous commentaries |
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