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Straits Times 3,115.03 -11.06 -0.35%
Hang Seng 25,734.22 +238.76 +0.94%
Dow Jones 25,886.01 +306.61 +1.20%
Shanghai Composite 2,823.82 +8.03 +0.29%
Editorial Desk
Editorial Desk | 30 March 2012
By: Xavier Lim
Articles (51) Profile

Short selling seemed to have picked up as traders does not expect the positive market momentum to gain any steam in the near future. Adding to the selling in the global stock markets was the disappointing US durable goods orders figure released by the US Commerce Department. Despite being the fourth increase in five months, the big-ticket items rose by only 2.2 percent in February when economists were expecting an increase of 2.8 percent.

In Asia, China’s National Bureau of Statistics reported a 5.2 percent decrease in profits for China’s largest industrial groups during the first two months of the year. The weak data led the 2.7 percent fall in the Shanghai Composite Index, while the Shenzhen Composite Index slumped 4.1 percent to 909.58. Investors were worried that a recovery in China’s economy is further away than expected. Also, concerns over China’s inflation picking up again due to high oil prices added to the worry list.

On the other hand, crude oil prices fell on reports that the French government are working with the US and the UK on tapping strategic oil reserves.

Back home, despite the fifth round of the property cooling measures, private home sales continued its momentum into February, posting 2,413 units sold, the highest monthly figure since July 2009. In this issue, we take a closer peek at TA Corporation Ltd. Enjoying the fruits of its foray into property development, the company has certainly not forgotten about its core construction business, evidenced from the $271 million construction contracts won from Allgreen Properties. Find out more from page 6.

We also have a story on STX OSV Holdings. In an exclusive interview with the company over an online correspondence, the company’s management shared with us their take and opportunities in the oil and gas industry. For more information, please turn to page 12.

Despite the recent disappointing economic news, which led global stock markets to move broadly lower, overall volumes were light. This signals that the panic signs in the stock market are still manageable.

Armed with an arsenal of investment knowledge, Xavier is the Senior Research Editor at Shares Investment.

Please click here for more information about this author.


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