Rotational play continues in Singapore stock market

Singapore Stock Market Comments - rotational play continues

Despite recent warnings by some foreign brokers of potential sharp market correction, selective Singapore stocks continue to scale new heights, some in fact all time high, as traders, investors, punters and my aunties stay vested in the market. It is quite clear that almost all sectors have different stocks that you can find trading opportunities, penny stocks, property stocks, tech stocks, hotel stocks, oil and gas stocks, ….and even stock price for the Singapore Stock Exchange (SGX) all reach all time high exceeding S$10.00 mark. The latest IPO from China today in the Singapore Stock Exchange, called China XLX, with IPO price of $0.77 hits intraday high of S$1.27 before lunch, up a whopping 65% in the first day. This may put some spot light back to some of the China stocks which have gone into hibernation mode after the strong rally which started early 2006. Stock prices for many long forgotten small-mid cap tech stocks listed in SGX are also slowing crawling back. Meiban, Fuyu, Sunningdale, Longcheer……..stock prices of these stocks are hitting multi-week or multi-month highs again. Based on chart, these stocks look attractive for trading. But as we approach the next results season, we just have to be careful about those that are "really" recovering in terms of earnings and those that are still yet to do so.

Article by Stephen Yong