Just like the Kallang waves of the Malaysia cup heydays, what a beautiful day for the STI components. With investors' all time heavyweights making the best gains. Especially GLCs. I saw casino plays as being the most obvious while the rest are just up in tantem. Broadbase market are still weak. The inability to close at day's high is not convincing to me.
Semb Marine is up but i see hesistation in Cosco and Labroy Marine. Jaya Holdings reported a good set of results. This further add strength to my analysis that ship repairing sector should be watched.
Oil and Gas plays slept during the day once again. There were little volume in them for the longest time. When heavy volume comes in, they rallied up instead of down. I will continue to monitor this sector. Oil price has now dropped below US$70 per barrel. This should encourage the market to further test historical high. No doubt oil price may have simmered but i'm sure activities related to oil industry are still on going because the demand and supply are still very tight. If activities slow down, demand will definitely drives prices up and this is the last thing OPEC and rest of the world wants.
Chips were not in the mood for party today as well. Looks like some sort of profit taking in them. Volume traded were light while price holds steady. They were always volatile.
Bio medical companies also saw profit taking. The likes of AsiaPharm offers great opportunity. Templeton fund is an international reknown fund house and when they took up AsiaPharm's shares, definitely they saw something which they liked. Remember Celestial? If you have such a strong fund house supporting, it's worth to get invested as well. It will be best to use T.A to time your entry.
