Page 4 of 4 FirstFirst 1234
Results 91 to 103 of 103

Thread: Home prices surpass 1996 levels

  1. #91
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    300%? I am not too sure how long you can hold.
    He is right. He can hold on to the door and never let go. Doesnt matter what the price is. woooohahahahahaha

  2. #92
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    NO SIGN OF THE SPECULATORS.....THEY ARE FINISHED!!! MAD RUSH AT THE EXITS....OTHERS PLEASE AVOID THE EXITS....SPECULATORS FLEEING...WATCH OUT FOR YOUR OWN SAFETY.

  3. #93
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    NO SIGN OF THE SPECULATORS.....THEY ARE FINISHED!!! MAD RUSH AT THE EXITS....OTHERS PLEASE AVOID THE EXITS....SPECULATORS FLEEING...WATCH OUT FOR YOUR OWN SAFETY.
    Very very few property transactions only.nobody fleeinglah,
    see ghost or what...?

  4. #94
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    Of course they are pissed.

    They think they can get the price to increase by 42%? They must be dreaming!

    Too bad for them. Price only went up a pathetic 4.2%!
    Quote Originally Posted by Unregistered
    Haha this is damm funny.
    What's so funny?
    Price went up only 4.2%.
    It's pathetic - not funny.

  5. #95
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    What's so funny?
    Price went up only 4.2%.
    It's pathetic - not funny.
    Ha ha ha!!!!

  6. #96
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    Dear Retiree,

    Rest assured that your worries are unfounded.

    On the contrary, the Government continously invests billions throughout the island to enhance the values of assets owned by all Singaporeans.

    Read the following speech by none other than our MM Lee.

    "Singapore is undergoing a transformation. The Marina Barrage is completed. From next year 2009, saline water will be drained out and we will have a fresh water lake. PUB will make sure that the lake is free of debris and pollution. All streams, canals and monsoon drains will become the recreation waterways and be greened up and fitted with board water. This requires complex engineering task and also needs the cooperation of our people to keep our drains and waterways free of plastic and other waste.

    By 2011, the Marina Bay Area will be splendid, especially a water plaza, surrounded by a promenade fronting financial centres, integrated resorts, residential condominiums, food and beverages outlets, an enchanting sight to behold. It will be a unique city centre. We will not leave our heartlands behind. All new towns will be upgraded and beautified. The massive new investments in infrastructure and beautification, plus a steadily growing economy, with higher incomes, will keep property values going up."


    The full text of his speech can be found here:

    http://www.pmo.gov.sg/News/Speech+by...ear+Dinner.htm
    You mentioned ".. plus a steadily growing economy .." in your posting. Is that a guess or you actually know it?

    If the analysts and economists can predict it wrongly, I don't you know the answer.

    You must have made a wild guess about the rebound. Let's be honest. No one would have thought of 16.9%. Agree?

    Quote Originally Posted by mr funny
    April 10, 2008

    S'pore economy rebounds on growth in drugs output


    SINGAPORE - SINGAPORE'S economy picked up speed in the first quarter of this year, rebounding from a contraction as pharmaceutical factories produced more.

    A release from the Ministry of Trade and Industry on Thursday said the gross domestic product rose 7.2 per cent on a year-on-year basis in the first quarter, faster than the 5.4 per cent gain in the final quarter of 2007.

    The Advance GDP estimates also revealed that the annualised, seasonally adjusted rate of 16.9 per cent in the first quarter beat economists' expectations. It had declined 4.8 per cent in the previous quarter.

    The median forecast from economists polled by Reuters was for growth of 11.5 per cent after a recovery in pharmaceutical and electronics manufacturing, after an unexpected 4.8 per cent contraction in the economy in the fourth quarter of 2007.

    The manufacturing sector expanded 13.2 per cent in the first quarter, compared with a 0.2 per cent growth in the previous quarter. MTI said a surge in the output of biomedical manufacturing cluster helped boost the sector.

    The rest of the manufacturing clusters also enjoyed better performance except ofr transport engineering and precision engineering clusters whose growth moderated.

    The construction sector expanded by 14.6 per cent, after a 24.3 per cent gain in the preceeding quarter.

    The services producing industries grew steadily at 7.6 per cent. Financial services continued to be the fastest growing among the services sectors.

    The advance estimate, based largely on data from January and February, gives an early indication of the economy's performance in the January to March period.

    The GDP estimates for the first three months in this year will be released in May in the Economic Survey of Singapore.

  7. #97
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    You mentioned ".. plus a steadily growing economy .." in your posting. Is that a guess or you actually know it?

    If the analysts and economists can predict it wrongly, I don't you know the answer.

    You must have made a wild guess about the rebound. Let's be honest. No one would have thought of 16.9%. Agree?
    Don't guess. It's up!

    Quote Originally Posted by Reuters

    Technology and retail stocks fuel rally
    Kevin Plumberg
    Reuters
    New York, New York, U.S.
    Thursday, 10 April 2008, 4:31PM EDT


    Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters

    Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.

    Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

    Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.

    Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.

    Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.

    "If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

    The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.

    General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.

    An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.

    Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.

    "It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.

    Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.

    The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.

    DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see

    Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.

    Intel's stock gained 3.1% to $22.08 on the Nasdaq.

    Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.

    Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.

    Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.

  8. #98
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Unregistered
    GE Says Profit Fell, Citing Finance; Forecast Reduced

    By Rachel Layne

    April 11 (Bloomberg) -- General Electric Co. unexpectedly reported its first quarterly profit decline since 2003, sending U.S. and European stocks lower, as the credit market's seizure spread to the world's third-largest company by market value.

    GE dropped as much as 12 percent in New York trading, the most since the October 1987 market crash. The decline wiped out as much as $42.2 billion in market capitalization, or more than the 2006 gross domestic product of Ecuador.

    Chief Executive Officer Jeffrey Immelt cut the annual forecast he had once told investors was ``in the bag'' for 2008 and repeated as recently as March 13. GE now says capital markets seized up just days later, forcing it to cut the value of some securities in the last two weeks of the quarter and blocking some asset sales. The Federal Reserve's March 14 move to help rescue Bear Stearns Cos. created ``a different world,'' he said today.

    ``We hate disappointing investors,'' Immelt said on the GE- owned CNBC television network. ``It's not part of the company. It's not part of the culture. We take accountability for that.''

    Profit from continuing operations dropped to $4.36 billion, or 44 cents a share, from $4.93 billion, or 48 cents, a year earlier. Revenue rose 8 percent to $42.2 billion, less than GE's prediction of about $44 billion. GE was expected to earn 51 cents a share, the average of 15 analyst estimates in a Bloomberg poll.

    ``You're shocked'' by such results, Benjamin Pace, chief investment officer of Deutsche Bank Private Wealth Management in New York, told Bloomberg Television.

    Shares Plummet

    The stock dropped $4.23, or 12 percent, to $32.52 at 11:25 a.m. in New York Stock Exchange composite trading. The shares had fallen less than 1 percent this year compared with a 7.3 percent decline in the Standard & Poor's 500 index.

    On a conference call today, analysts demanded that Immelt explain why he told retail investors on a March 13 Webcast that Fairfield, Connecticut-based GE would likely meet its annual forecast of at least $2.42 a share.

    ``Two days after the Webcast, the Bear Stearns situation took place,'' Immelt said. ``The last two weeks in March were a different world in financial services.''

    The market turmoil also prevented GE from selling some finance assets, Immelt said. GE put its U.S. credit card business and Japanese consumer finance units up for sale last year. The health-care unit also trailed expectations.

    The U.S. may be near a recession because of a slump in housing prices and a tightening of credit markets. Some members of the Fed's rate-setting Open Market Committee said at their March 18 meeting that they saw the risk of a ``prolonged and severe downturn'' in the U.S. economy, the world's largest.

    `Biggest Misses'

    ``This is one of the biggest misses that GE's had in quite some time,'' said Nicholas Heymann, an analyst with Sterne Agee & Leach Inc., in an interview today. ``The pressure is on like it's never been on before for all senior management at GE.''

    GE missed its own forecasts for its commercial and consumer finance units. That cut per-share profit by 5 cents and resulted in a lowered full-year forecast of $2.20 to $2.30 a share, down from the previous forecast of at least $2.42. Immelt had told investors in December that $2.42 a share was ``in the bag.''

    ``The quarter was disappointing,'' James Hardesty, president of Hardesty Capital Management in Baltimore, told Bloomberg Television. ``It does reflect a rather sharp economic slowdown that seems to be occurring in the U.S.''

    Finance units may have a profit decline of 5 percent to 10 percent this year and non-financial units will increase 10 percent to 15 percent. That makes total profit little-changed to up 5 percent, GE said in its statement.

    Didn't See It Coming

    ``This is something that we clearly didn't see until the end of the quarter,'' Immelt said on the conference call. ``What we did is try to reflect on that, not make excuses and take appropriate actions. The company's fundamentals remain strong. We believe that the strategy and the fundamentals remain strong.''

    GE Healthcare, the world's biggest maker of medical imaging equipment, had a profit decline of 17 percent, below the predicted 5 percent rise. GE hasn't shipped its OEC X-ray machines from a plant for 20 months as it works to comply with an FDA consent decree. That cost about 1 cent a share, Immelt said.

    GE Infrastructure, the largest of the six main segments, has units that focus on oil and gas equipment, jet engines, locomotives, power-turbines, water-treatment and aircraft leasing. Its revenue climbed 23 percent, more than forecast, driving a 17 percent increase in earnings, which matched GE's prediction.

    Downgrades

    Analysts at Goldman Sachs Group Inc. and Credit Suisse Group both cut GE's rating to ``neutral'' today. Fourteen analysts recommend buying the stock, and six suggest holding it. None recommend selling. Before today's earnings announcement, 16 analysts rated the stock a ``buy'' and four rated it ``hold.''

    ``There's probably a very good buy in here,'' Joseph Keating, chief investment officer of First American Asset Management in Birmingham, Alabama, said in an interview with Bloomberg Television. His firm manages $3 billion, including GE shares. ``They have a worldwide franchise in industrial products and with the decline of the dollar, their products are competitive worldwide.''

    The cost of protecting bonds of GE, the biggest U.S. corporate borrower, reached the highest in almost two weeks. Credit-default swaps on GE's General Electric Capital Corp. increased 10 basis points to 131 basis points, according to broker Phoenix Partners Group in New York. The contracts have about doubled this year as the credit-turmoil that started in the U.S. housing market led investors to flee everything from commercial paper to leveraged loans.

    Investors and analysts asked Immelt to assure them that GE's ability to forecast, and strategy as a whole, remained intact and whether this surprise decline eroded GE's reputation as a safe investment.

    ``I understand your frustration,'' Immelt said. ``I'm not going to be defensive about it, this is a company that's delivered for a long time. The franchise of the company is very strong. And I feel the same about the strategy of the company.''
    Wow what did you just say?
    GE had the biggest fall since 1987? You can't be kidding. GE is all about world economy. You mean eqvivalent amount to Equador's GDP wiped out in a few minutes? Tell me you are kidding....for God's sake. I have a weak heart.

  9. #99
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by mr funny
    Published March 27, 2008

    Home prices surpass 1996 levels

    Even if the US sub-prime problem drags on, mid and mass market homes would still see price increases this year, says HAN HUAN MEI


    RESIDENTIAL property prices in Singapore saw phenomenal growth in 2006-7. Robust economic growth of about 7-8 per cent in the past three years, a growing number of millionaires and anticipated spinoffs from the integrated resorts ignited the high-end segment before finally filtering down to the mid and mass markets in the second quarter of 2007.

    By the end of 2007, prices in dollar terms had surpassed the levels in 1996, although the Urban Redevelopment Authority (URA) private residential price index had yet to hit the peak of 181.4 points achieved in Q2 1996. This is especially the case for new projects. For example, units in luxury projects like Cliveden at Grange, Hilltops and The Orchard Residences were selling at above $3,500 per sq ft compared with those in Ardmore Park, which were selling above $1,800 psf in 1996.

    In the mid-tier segment, units in projects like Aalto, Jardin and Zenith were selling above $1,600 psf in 2007, compared to 1 King Albert Park and Trellis Tower, which were sold at $900-$1,100 psf in 1996. As for mass market projects, 2007 saw units in projects like Fontaine Parry, Hillvista and Oasis Garden being sold at $850-$1,000 psf while in 1996, units in Hazel Park, Ballota Park and Sherwood Condominium were sold at $680 psf-$850 psf.

    In the last two years, the URA price index showed that prices of landed homes rose by 32 per cent while those of non-landed homes (apartments and condominiums) rose by 47 per cent. Furthermore, within the non-landed segment, prices of uncompleted homes (mostly new launches and developers' sales) grew by 53 per cent whereas those of completed homes (existing stock, resale transactions) rose 45 per cent.

    Based on URA price indices by region for uncompleted non-landed properties, the Core Central Region (CCR, districts 9, 10, 11 and Downtown Core and Sentosa) took the lead with a 67 per cent growth followed by the Rest of Central Region (RCR, Central Region outside the core region) with a 41 per cent growth and the Outside Central Region (OCR), with a 35 per cent growth.

    For non-landed homes in the resale market, the price increase was 45 per cent over the last two years, driven mostly by transactions in the CCR. Prices there rose by 43 per cent, followed by 31 per cent for those in the RCR and 28 per cent for those in the OCR.

    A comparison of median prices in Q4 2007 showed an interesting geographical shift across the island from Q4 2006. For simplicity, we have confined our analysis to non-landed homes.

    For the new homes sold as at Q4 2006, the highest price band was $1,500-$2,000 psf for properties in districts 1, 2 and 4. Examples of new projects in these districts in 2006 would include Marina Bay Residences, Lumiere, and The Coast and The Oceanfront at Sentosa Cove.

    Properties in the lowest band - below $700 psf - were found in districts 5, 8, 12, 13, 14, 16, 17, 19, 22, 23, 6 and 27. Examples of new launches at that time included Ferraria Park, One St Michael's, The Infiniti, The Quartz and The Stellar. Most of these are 99-year leasehold projects catering to the mass market. However, by Q4 2007, the highest price band moved up to over $3,000 psf for properties in districts 9 and 10 for projects like 8 Napier, Cliveden At Grange, Scotts Square and The Orchard Residences. Similarly, the lowest band was raised to $700 psf to $1,000 psf for projects in districts 3, 5, 8, 12, 13, 17, 19 and 22, reflective of prices of Casa Fortuna, Fontaine Parry, Oasis Garden and The Lakeshore.

    As for properties in the popular East Coast area, their prices have moved up from $700-$1,000 psf to $1,000-$1,500 psf for district 15. In district 16, they moved from below $700 psf to $700-$1,000 psf over the same period.

    In the resale market, there was a lag in price growth because this sector involved basically older properties which lacked the aesthetic appeal and quality of new properties. As at Q4 2006, among the properties that were sold, only those in district 9 made it to the top of the range for the price band of $1,000-$1,500 psf. These included properties like Aspen Heights, Cairnhill Crest, The Claymore and The Pier At Robertson. However, a year on, the price band moved up to $1,500-$2,000 psf. Transactions in district 10 joined this category, involving units in Ardmore Park, Draycott Eight and The Tessarina.

    With the exception of districts 4, 9, 10 and 11, resale transactions in the rest of the island were largely below $700 psf in Q4 2006, the price band for mass market properties. Similarly, in Q4 2007, property prices in the more popular districts (1, 2, 3, 5, 7, 8, 12, 15, 16 and 21) moved up to the $700-$1,000 psf price band.

    Notably, prices of properties in districts 1 and 3 as well as 11 moved up to the $1,000-$1,500 psf band in Q4 2007 from previous price bands of below $700 psf and $700-$1,000 psf respectively.

    Last year ended on a cautious note as the sub-prime mortgage crisis in the US had a somewhat negative effect on global financial markets and the economy. Most home buyers have been infected by the current mood and have turned cautious. Should the US enter a mild recession in the first six months of 2008 and the sub-prime problems clear up so that sentiment improves after June this year, the private residential market should continue where it left off in the third quarter of 2007.

    Luxury prices would remain firm, mid-market homes would be expected to rise by 5 to 10 per cent while mass market home prices could grow by 10 to 15 per cent in 2008, once the situation becomes more positive.

    In the worst case scenario, where the US sub-prime problem drags on to the end of the year and beyond, prices of luxury properties may ease marginally, while mid- and mass market homes would still see price increases, albeit at one to 2 per cent and 3 to 5 per cent respectively.

    Han Huan Mei is an associate director, CBRE Research, CB Richard Ellis.
    What? Good good!

  10. #100
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by mr funny


    Yes! That's the way!

  11. #101
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Reuters

    Nikkei ends up 2.9%, led by Retailers on Positive Outlooks
    Taiga Uranaka
    Reuters
    Tokyo, Japan
    Friday, 11 April 2008

    Japan's Nikkei average rose 2.9% on Friday, snapping a three-day losing streak, with retailers Fast Retailing Co and Seven & I Holdings jumping on solid profit outlooks.

    Japan's second-largest bank Mizuho Financial Group extended gains after disclosing additional subprime-related trading losses.

    "Mizuho shares were bought as investors saw negative news as having run its course for the time being. The market had priced in subprime problems to a considerable degree," said Harushige Kobayashi, head of the research department at Maruwa Securities.

    High-tech shares such as Advantest Corp advanced after their U.S. peers lifted Wall Street on a brokerage upgrade of chip makers.

    "The previous three days' losses were caused by trades in connection with SQ. Now, with that over, the lid on the market is off," said Katsuhiko Kodama, senior strategist at Toyo Securities.

    The closely watched settlement price, known in Japan as the special quotation or "SQ", is calculated from the opening prices of the 225 shares on the Nikkei average on the second Friday of the month.

    The price for options contracts expiring in April is likely to have come to 13,129.58, according to market sources.

    The benchmark Nikkei ended up 2.9% at 13,323.73. The index gained 0.2 percent for the week.

    The broader TOPIX index added 2.5% to 1,278.62.

    Retailers High

    Shares of Fast Retailing jumped 5.2% to 10,100 yen, the biggest contributor to the Nikkei, after the retailer raised its full-year operating profit forecast by 10% to 80.1 billion yen on the back of a recovery at its Uniqlo casual-clothing chain.

    Seven & I Holdings shot up 11.6% to 2,895 yen after Japan's largest retailer said it would buy back and cancel up to 170 billion yen of its shares and Mitsubishi UFJ Securities lifted its rating on the stock to "1" from "2", saying the shares are cheap considering an expected improvement in return on assets.

    Seven & I posted its first drop in full-year operating profit in six years, hit by weak consumer spending and tough competition, but it forecast a recovery this year as it closes unprofitable outlets.

    Daiei Inc jumped 13.7% to 631 yen after the supermarket operator said it expects its operating profit this business year to rise 24.6% to 18 billion yen, better than a forecast of 13.6 billion yen in a poll of three analysts by Reuters Estimates.

    "Investors' buying interest is turning towards domestic, non-manufacturing sectors since they're less affected by the stronger yen," said Maruwa's Kobayashi.

    Mizuho extended gains, ending up 5.2% at 407,000 yen, after the banking group said during the midday break that it expected 400 billion yen ($3.9 billion) of subprime-related trading losses at its unlisted brokerage, Mizuho Securities, for the year ended in March.

    The bank said it now expects a net profit of 310 billion yen ($3.1 billion) for the year to March 2008, down nearly 60% from its original estimate of 750 billion yen.

    Takeda Pharmaceutical Co Ltd fell 2% to 5,300 yen, becoming the biggest drag on the Nikkei 225, after news of its $8.8 billion acquisition of U.S. biotech company Millennium Pharmaceuticals Inc in the biggest overseas buyout by a Japanese drugmaker.

    Technology shares gained, with Advantest, the world's largest maker of microchip testers, up 5.3% at 2,795 yen.

    On Thursday, Intel Corp shares jumped and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

    Trade was moderate on the Tokyo exchange's first section, with 2 billion shares changing hands, compared with last week's daily average of 1.9 billion.
    Outlook positive is good what.

  12. #102
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by Reuters

    HK shares jumps 2% to 2-month high as Chinese banks lead way
    Judy Hua
    Reuters
    Hong Kong SAR
    Friday, 11 April 2008

    Hong Kong stocks rose 2% to a 2-month closing high on Friday, tracking higher overseas markets, with financial plays leading the gains as Chinese banks flagged rosy profit forecasts.

    Investors are cautious, however, as they await key economic data from China and the United States, as well as quarterly results from major U.S. financial institutions next week to gauge the outlook for the global economy.

    "China's stock market is still soft and lacks momentum even though it has stablised," said KGI Asia Ltd associate director Ben Kwong. "Investors are waiting for major economic data to assess if there is further need for tightening."

    "Technically, the (Hong Kong) market is quite resilient," he said, adding that he expected short-term support at 23,900.

    The benchmark Hang Seng Index ended 480.69 points higher at 24,667.79. The China Enterprises Index of Hong Kong-listed mainland companies , or H shares, gained 2.76% to 13,357.12.

    Mainboard turnover rose to HK$77.14 billion ($9.9 billion) from HK$74.81 billion.

    Chinese banks jumped after they estimated sharply higher first-quarter earnings due to higher interest on consumer lending as Beijing grants lenders more flexibility in pricing loans.

    China Merchants Bank closed up 4.6% at HK$29.85 after it estimated that net profit surged at least 140% in the first quarter of this year.

    China Construction Bank rose nearly 2.8% as investors expect it to post strong earnings after the market close.

    Industrial and Commercial Bank of China, the country's largest bank and the most active stock for the day, climbed 2.8%, while smaller rival Bank of Communications soared 5%.

    Another bright spot was China Coal Energy, the country's No.2 coal producer, which jumped more than 5% to HK$15.94 after Citigroup upgraded it to buy from hold as it plans to sell more coal on domestic spot market this year, which should drive margins.

    Offshore oil specialist CNOOC Ltd rose 4.6% and its bigger rival PetroChina climbed 2.8% after they signed landmark deals to buy liquefied natural gas from top LNG exporter Qatar.

    TPV Technology, the world's largest maker of PC monitors, jumped 4%to HK$5.24 after JP Morgan upgraded it to overweight from neutral on margin improvement and likely market share gain.

    But mobile phone and electronics components maker BYD bucked the broad market trend, tumbling as much as 12% to close at HK$12.90 after its Taiwanese rival, Hon Hai Precision Industry, said BYD's vice president Xia Zuoquan had been detained.

    CLSA downgraded BYD to underperform from buy, citing accelerating legal disputes between BYD and Foxconn International over alleged patent infringement. Foxconn jumped 7.3% to HK$11.70.

    Kingdee International Software Group Ltd, China's second-largest designer of software, fell 11 percent to HK$6.84 after the company and its chairman sold up to $21.5 million worth of shares.
    Wow! Jumped up 2%?

  13. #103
    Unregistered Guest

    Default Re: Home prices surpass 1996 levels

    Quote Originally Posted by 联合早报

    中国一游客用银联卡 一天在本地消费60万元 ($600,000)
    联合早报
    2008-04-11

    人民币不断升值,鼓励越来越多中国旅客出境旅游。接受银联卡消费,将成为本地商家提升业绩的“润滑剂”。中国银联人士透露,有中国游客一天内在新加坡用多张银联卡消费了60万新元(S$600,000)!

    中国银联国际业务总部副总裁黄兴海昨天在第13届卡和付费亚洲峰会(Cards & Payments Asia)指出,人民币缓慢增值的趋势,意味着人民币越来越值钱,也促进中国居民出境旅游和消费。“我认为这完全是好现象,因为中国旅客带来的商机很大,对新加坡旅游业、银行、商户都是好事情。”

    尽管没有具体数据能说明自“破八”(跌破一美元兑八元人民币心理关卡)以来,人民币升值在多大程度上使银联卡业务受惠,黄兴海承认,中国银联是人民币升值的受益者,“对我们肯定有利”。

    香港、澳门、新加坡是中国旅客的主要旅游地,这些以华人为主的城市对银联卡的接受度要高于欧美城市。目前,每年到访新加坡的中国旅客都超过100万人次,是新加坡第二大外国旅客来源,每年消费额超过18亿新元。根据保守估计,未来十年中国旅客出境旅游人数,每年将以10.4%速度增长。

    中国银联自2005年1月开始,与星网电子付款公司(NETS)成为合作伙伴,目前本地星展银行、大华银行及花旗银行的自动提款机,都接受银联卡提款交易,覆盖率近100%。

    中国银联新加坡代表处首席代表杨建民说,过去,中国游客经常随身携带大量现金,在外国匪徒眼里是“流动提款机”,经常遭抢劫。使用银联卡,既方便又安全。

    中国银联新加坡高级市场代表刘裕德指出,中国政府规定出境不能携带超过两万元人民币或6000美元的现金,而信用卡又有消费额度限制。

    “银联卡提供另一种消费渠道。如果商户不接受银联卡,顾客走进他们商铺的消费能力,就取决于身上的现金有多少;如果可以使用银联卡,他们的消费能力就无限扩大。比如,一名顾客要买一件昂贵的商品,只要一通电话让亲友把钱存入他的银行账户,马上就可以转账。”

    杨建民透露,去年到访新加坡的中国旅客比前年增加了9万人次,但通过银联卡消费的业绩却上升了近80%。该公司的消费记录显示,曾有一名中国旅客刷银联卡,买走了一只价值20万新元的名贵手表。“还有人通过两、三张银联卡,一天之内就在乌节路上多家商场消费了60万元。”

    中国银联成立于2002年3月,总部设在上海,是全中国统一的银行卡跨行交易清算系统。截至2007年底,中国境内发卡机构有150多家,发卡总量超15亿张,同时在中国旅客常去的26个国家和地区获得接纳。
    Quote Originally Posted by Unregistered
    ... China RMB getting very very strong ... Chinese getting very very rich
    ... Singapore getting very cheap ... Singapore goods are very reliable
    ... so record number of Chinese tourists come to Singapore

    ... they keep buying things like there is no tomorrow ...
    ... tourism receipts from Chinese tourist is at record high ...

    ... one Chinese tourist spent S$600,000 in one day ...
    They are coming to buy buy buy.
    We better buy buy buy first.

Similar Threads

  1. Luxury condo prices surpass previous peaks
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 15-10-21, 12:22
  2. 1996: Curbs take property market by surprise
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 23-05-16, 10:57
  3. Home rates going back to 2003 levels? Not quite
    By mr funny in forum Finance and Legal
    Replies: 0
    -: 20-05-08, 13:15
  4. Will property market see a repeat of 1996?
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 25-07-07, 05:06
  5. Private housing prices 'may pass 1996 levels'
    By ahlahdin in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 08-07-07, 04:23

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •