Market Summary (6th Nov - 10th Nov)

2017-11-10:
Luckily it was a sunny day after rainy day. Stocks that reported good earnings soared.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
SATS	4.71	4.78	5.01	0.300	6.37%	65.8mil
YZJ Shipbuilding	1.565	1.58	1.64	0.075	4.79%	51.3mil
Food Empire	0.66	0.67	0.705	0.405	6.82%	2.4mil
COSCO	0.38	0.375	0.44	0.060	15.79%	23.3mil
Falcon Energy	0.088	0.088	0.096	0.008	9.10%	3.9mil
Pan Hong	0.36	0.355	0.375	0.015	4.17%	0.6mil

Two of my blue chips: SATS and YZJ shipbuilding reported good results, price rose, and so was my mood. Same for Food Empire shareholders, who got rewarded in their holdings in a good company. But the happiest should be COSCO shareholders, which price soared like sky is the limit upon huge buying from somewhere. Maybe funds from China? The ferocity in buying up is not common for any other stocks. 

Similarly, beloved Falcon Energy rose again on third wave, which makes you wonder what is all this about?

Pan Hong also rose few %, in tandem with Sino Harbour (1663:HKG), although with a lesser %. With Sino Harbour seems to be have firm support at this price level, it's both interesting and puzzling opportunity to grab Pan Hong while it is still pending the confirmation of distributing 3.5 Sino Harbours per each Pan Hong share. Perhaps people are not yet excited or still doubtful as there are no sign of news after their announcement at 25th Aug. 

2017-11-09:
Oh my, what a flushing day! It wasn't reflected by STI as the flushing was done mainly on growth stocks, tech stocks and stocks that have reported less-than-ideal earnings. I thought market sentiment would be weak as so many companies reported bad earnings and issued profit warning, but I didn't know it would turn out be a red ocean flooding.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Best World	1.415	1.345	1.26	-0.155	-10.95%	25mil
Sunningdale Tech	2.25	2.13	2.15	-0.1	-4.44%	5.2mil
Jadason	0.093	0.09	0.088	-0.005	-5.38%	1.6mil
CSE Global	0.375	0.36	0.345	-0.03	-8%	1.8mil
Valuetronics	1.035	1.06	0.995	-0.040	-3.87%	7mil
Frencken	0.585	0.56	0.54	-0.045	-7.69%	2.6mil
China Aviation	1.61	1.61	1.595	-0.015	-0.90%	4.6mil
KimHeng Offshore	0.101	0.099	0.098	-0.003	-2.97%	0.2mil
Hi-P	1.9	1.91	1.95	0.04	2.09%	7mil
Starhub	2.73	2.73	2.83	0.1	3.67%	43.9mil

Best World dived 11% on lower revenue despite net profit increased; while Sunningdale Tech gaped down but managed to rise higher than open price, on higher revenue but lower net profit. Company with bad results like Jadason, CSE Global got dumped, while company with decent results (not up to expectation?) like Valuetronics and Frencken also got dumped. China Aviation dropped in the fifth consecutive day after bad results. 

Amidst overwhelmingly negative sentiments, KimHeng Offshore stood strong and only took a small knock, despite announced the worst quarter in the year, which made an interesting case. Price was 30% lower on the previous two results, and with worse results now, why didn't the price dive? What made current investors to hold on to it? Could it be a near term turnaround, that is not visible from numbers in financial statements, is near? Or this is an illiquid and manipulated counter?

The tech bull Hi-P rebounded 2%. Is this a short term rebound? Or it will stay at this level? The most surprising stock, perhaps not even current shareholders could dream off, was Starhub. After XD, out of no where, it jumped 4%. Could it be out of frustration from Singtel given that it announced a much lower-than-expectation special dividends that they switched to Starhub? Just a funny thought. 

2017-11-08:
Despite STI made meagre gains of 0.239%, profit taking were seen in a lot of stocks.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Venture	21.87	21.75	21.2	-0.670	-3.06%	62.1mil
Hi-P	1.93	1.93	1.9	-0.030	-1.55%	7.2mil
SIA	10.32	10.41	10.75	0.430	4.17%	43.8mil
Falcon Energy	0.077	0.077	0.094	0.017	22.10%	2.9mil

Leading the profit taking was Venture, whose rise is probably the most solid, took a 3% dip. More profit taking took place for Hi-P, will it bounce back or continue the slide to fairer valuation? With the trend reversing, momentum downwards may accelerate just like how it was surging. 

SIA reported a near 3-fold profit and the price jumped 4%. Will this mark the turnaround of SIA's business? Even if SIA could maintain the same earnings for all quarters, the valuation remains expensive compared to global peers. This is perhaps the premium that local investors like to pay to support national airline.

Falcon Energy seems to be a loved child in O&G industry. The price rose from 0.04 in end September to 0.09 in early October, before dipped to 0.06 in end of October. Now it rebounded to a higher high. Why do they like Falcon so much?

2017-11-07:
DBS and Genting carried STI to break 3400 level and caused the market to continue bullish.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Hi-P	2.06	2.01	1.93	-0.130	-6.31%	11mil
Cosco	0.355	0.36	0.38	0.025	7.04%	15.3mil
Manulife Reit	0.9	0.9	0.905	0.050	0.56%	12.9mil

So Hi-P did correct 6% on profit taking, still quite sizable gains for most who rode the trend. Just wonder who were those jumped in to buy (only 13% were short sellers), are they hoping for a reversal or they thought they got a bargain at this price level? If a $50 stock is expensive, would it become cheap when it jacks up to $100 and falls to $75? 

Cosco continued to rise, perhaps people were too excited on whether the falling giant has finally awaken. Perhaps it is worth take a look at its fundamental, if their businesses stop bleeding $, the huge cash pile of the company is worth more than the current share price. Anyway, DBS currently still maintain its TP of $0.33, so perhaps current level is a bit hyped? But I don't think it will come down though.

What's interesting for Manulife REIT is that the transaction volume is the most in this year, and yet the share price only rose 1 pip. Is this massive accumulation or distribution? I hope is the former since I holds it. 

Even more interesting in the market was, DBS, Chip Eng Seng, MM2 all rose after results or news, but not rose on the day after news were out, but on the second day. I wouldn't think market is so inept that need 1 day to digest the impacts of these results, but rather BB doesn't want to bring weak hands minority along. Mr cunning Market :)

2017-11-06:

Don't let the slight fall in STI index (-0.46 / -0.014%) deceives you that the market is not turning more euphoric.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Venture	19.3	20.27	21.99	2.69	13.94%	84.9mil
Hi-P	1.915	1.965	2.06	0.145	7.57%	7.4mil
Cosco	0.3	0.31	0.355	0.055	18.33%	12.8mil
Jiutian Chemical	0.059	0.059	0.079	0.020	33.90%	7.3mil

With Venture reported blockbuster earnings, the market opened 5% gap up. While I thought this gain is already impressive, it ran further 9% to close at near $22. 

The bullish sentiment obviously spread to Hi-P and investors pushed the already elevated price further to 2.06. So in few weeks time, after issuance of profit guidance, the price of Hi-P rose from 1.33 to 2.06, a whopping 55% gain in few weeks. And the results is just out, latest earnings increased by 24.9% y-o-y. I will be very surprise if the uptrend can continue.

For Cosco, the gain was fueled by the acquisition of Cogent on a low ball offer. Still, 18.33% increase for a struggling company, in a day? Amazing.

And the largest gain among them, belong to a penny. It's quite often penny rose few ten percents in a day, but note the total transaction value is almost 5% of the company's market cap, and the rose was purely driven by speculative trading without any catalyst. 

Simply put, there are so much liquidity in the market.