Buy @ $3.78
With a sea of red today, I used % decline to help me screen for stocks to buy. The >-3% ones in my watch list are Genting, King Wan, Sheng Siong, Vard,… mostly sub-$1 ones where a single bid equates to a huge % swing. Decided to skip these as I'm suddenly more risk averse. For the >-2% ones, I decided to focus on the Yield Rotation list for Sep Q. Finally, decided on Singtel as it also allows me to average down my recent $3.90 ones… 😀
An interesting observation is US DJIA was +ve last night and the Tech & Internet-heavy NASDAQ was >-1% (Just read Lim & Tan report that the sell-down is mainly due to Fund Mgrs raising cash to switch to Alibaba IPO….). Around Asia, Shanghai was more negative than STI and HK behind STI, with the rest, mostly aound half as badly hit. A few, like Korea & Phillipines were even positive. As for Futures, Europe & US was red, but mostly by less than -0.5%.
So, FED 2-days meeting causing STI to bleed ahead of other regions??