Singapore Straits Times Index – 2,730.98 (+6.8)
Volume: 1,548.8 million
Rises/Falls: 263 / 346
MMI Holdings - $1.11 (+0.09)
Shares of MMI Holdings broke out to new high after range-bounded between 0.970 and 1.06 for about 1.5 month. The stock shot up to a high of 1.14 before retreating to close at 1.11 on volume of 20.5 million shares. The fierce buying can be attributed to the expectation that MMI Holdings will post strong first quarter profit for FY07.
This evening after the Singapore stock market closed, MMI Holdings announced a set of record profit for the first quarter, FY07. Net profit was up 53% year-on-year after taking into consideration a one-time gain for first quarter FY06.
Pan Hong Property - $0.400 (+0.05)
Another property stock for punters!
Pan Hong Property Group, a China-based property developer, was listed in the Singapore Stock Exchange on 20 September at an IPO price of $0.350. Since listed, the company shares have never closed above its IPO offer price, though it touched a high of 0.365.
Today, stock of Pan Hong finally made a break through to close at $0.400 on high volume of 11.9 million shares. The resistance at 0.350 has become a strong support for the shares.
Tags: shares, stocks, singapore stock market, investing, stock-trading