Intraday view

Nothing really intersting today. North Korea testing nuclear stuff… SSE and HSI tanked.. STI surprisingly fighting hard to stay flat – positive, not participating in the downward move. Offshore doing alright.. banks taking a breather.

SPC gapped up like crazy. Too bad I missed this. It was on my list for a long time but that is on hindsight. Kepcorp sold its stake to petrochina for 6.25 a piece so naturally the price will chase that figure. Petrochina intends to make a mandatory takeover offer… the largest in Singapore in quite a few years.

Swiber is threatening to breakout on heavy volume. At this juncture it will trigger a buy signal if it closes at this price, but I rather not go in at this point. I personally prefer to use $1 as a resistance turn support. So let’s see what happens. Am in no hurry.

US Markets are closed today, so focus in Asia markets will probably shift to affairs within Asia, with STI being a possible headless chicken again. But this headless chicken… has been defying HSI’s blood shed.. hmm.. I am.. very impressed with the tenacity.