Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (58461)	1/7/2002 1:55:53 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

"Motorola Unit to Lay Off Up to 800" Ya, but how about a little good news. Stan Monday January 7, 1:50 PM Singapore's share index crosses 1,700 mark sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares nudged above the psychological 1,700-point mark by midday on Monday for the first time since July as government-linked stocks were snapped up as proxies for the city state's expected economic recovery. The benchmark Straits Times Index was up 1.3 percent or 21.76 points at 1,700.43 by the lunch break after three straight sessions of gains last week. DBS Group, Singapore Press Holdings and Singapore Airlines led the charge but analysts warned profit-taking was imminent as the index charted deeper into overbought territory. The STI's 14-day relative strength index has risen to 86.17. A reading above 70 indicates the market is overbought. The index has risen some 42 percent since hitting lows around 1,200 points in late September in the aftermath of the U.S. attacks on September 11. "It has spiked up quite a lot. There will be consolidation as negative earnings news will still flow in," said Yang Sy Jian, research head at UOB Kay Hian. But Yang said there could be a powerful break upwards in the second half of 2002 as the focus would shift away from liquidity-driven gains to profit expectations as Singapore's recession-hit economy gets back on its feet. In the broader market, gainers beat losers 268 to 44, with 95 issues unchanged. Volume was heavy at 648 million shares, compared with 510 million at the break on Friday. DBS, Southeast Asia's biggest bank, added 10 cents to S$13.90. Media conglomerate Singapore Press was up 30 cents at S$23.00 and Singapore Airlines rose 50 cents to S$12.60. Early attempts to cash out property shares were quashed as sentiment remained upbeat. The property index, which dipped 0.8 percent in the morning, recouped its losses to add 0.18 percent. CapitaLand, Southeast Asia's largest listed property group, rose one cent to S$2.00 -- its highest level since August -- after falling to S$1.94 initially. Its gains came despite the company reiterating on Friday that its full year forecast for 2001 would be in line with 2000's loss of S$287 million. Despite recent gains, tech stocks were still well supported. Computer peripherals maker Creative Technology was up 60 cents at S$16.90 and electronics contract manufacturer Venture Manufacturing rose 20 cents to S$14.80.